Abstract
Tax policy of a country plays a vital role on the economy.Direct and indirecttaxes are the main sources of tax revenue for any Government. Goods and Services Tax(GST) is one of the biggest tax reforms in India after independence.This paper present anoverview concept and various tax slabs of GST. It was supposed to be implemented in April2010. But due to political situations in India ,it was implemented in 1st July 2017. The totaltax of GST will be shared equally by both central and respective state governments/unionterritories.
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