Goods & Service Tax.

In my Goods and Services Tax (GST) project, I present an in-depth study of India’s groundbreaking tax reform, aiming to make GST accessible to everyone. The project explains how GST replaces a complex network of state and central taxes with a unified, destination-based system. Drawing on official resources like Karnataka’s Business Studies curriculum, the GST portal, and other trusted online sources, I explore the foundation of GST, including how it simplifies tax compliance by replacing multiple indirect taxes with a single, cohesive structure. This reform reduces cascading taxes and creates a more transparent environment, benefiting both businesses and consumers alike.

 

The project also dives into the functional aspects of GST, focusing on CGST, SGST, and IGST and how they work in tandem to support fair and balanced tax distribution across states and the central government. Through a breakdown of GST’s impact on different goods, from luxury items to essentials, I shed light on how tax rates vary to promote both accessibility and fairness in the market. Additionally, the project examines GST’s role in reducing tax evasion and fostering economic stability, ultimately aiming to make this complex system understandable for everyone, whether you’re a consumer, entrepreneur, or student.