Goods and Services Tax subsumes all other indirect taxes such as Sales tax, Service tax, Excise duty, VAT etc. into one tax called GST. GST is levied on all goods and services produced in India as well as imported into India. Current GST rate applicable in India vary from 5%,12%,18% to 28% depending upon tariff head under which commodity falls.
GST registration is mandatory for businesses with annual revenue of more than Rs. 40 Lakh ( Rs.20 Lakhs in case of North eastern states)