In simple terms, GST, or Goods and Services Tax, is a type of tax that was introduced in India in 2017. It replaced several other taxes like excise duty, service tax, VAT, etc. The idea behind GST was to make taxes easier to understand and pay.

Under GST, goods and services are taxed at different rates, ranging from 0%, 5%, 12%, 18%, and 28%, depending on the type of goods or services. This tax is applied at each step of the production and distribution process, but businesses can get credit for the tax they paid on the things they bought. This means that they only must pay tax on the value they add, not on the full price.

Overall, GST was meant to make things simpler for businesses and consumers alike by streamlining the tax system and reducing hidden taxes. However, some people find it complicated, and there have been some challenges in its implementation.

·      Basic Documents Requirement for GST

A.   For Individual

1.                Aadhaar card

2.                Pan card

3.                Land deed/record/rent agreements

4.                Trade licence

5.                Electric bill

6.                Passport photo

7.                Property tax

8.                Bank details 

B.   For firm/partnership firm/NGO/Society/Trust/Companies/others

1.     Firm PAN Card

2.     Authorized Signatory Details

3.     Authorized Signatories full KYC (PAN, Aadhaar, Passport Photo)

4.     Land Details (Deed/Record/rent agreements, Property Tax)

5.     Trade Licence

6.     Electricity Bill

7.     P-Tax