The introduction of GST is expected to not only make the tax system simpler but also help increase tax compliance, boost tax revenues, bring transparency and effeciency in taxation system and make exports competitive. Why is GST  important  ? The Goods and Service Tax is a value added tax that will be levied on both goods and services (except for a list of exempted goods and services), at both the Central and state levels (Central GST and State GST respectively). In other words, the single GST will replace multiple taxes like VAT,CST and ST etc. Indirect taxation like GST had been implemented by 165 nations and india will become 166 nation to implement indirect tax. What makes GST an important indirect tax reform in india? 1. A Simpler Tax System As multiple taxation will be eliminated and replaced by a single tax, the tax structure is expected to be much easier and transparent than today. A simple taxation regime will also enhance the ease of doing business, makin