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of <h1>GST Introduced to Streamline Tax System, Eliminate Cascading Taxes, and Reduce Compliance Costs by Merging Central and State Levies.</h1> The introduction of the Goods and Services Tax (GST) addresses the issue of cascading taxes prevalent in the previous Central excise duty and State sales tax systems. While Central VAT (CENVAT) and State VAT reduced some cascading effects by allowing set-offs for taxes paid on inputs, they were incomplete. CENVAT did not cover the entire value chain below production, and many Central taxes were excluded. State VAT did not integrate with service taxes, and inter-State Central Sales Tax burdens remained. GST aims to subsume various Central and State taxes, eliminate cascading effects, and create a seamless tax set-off chain, reducing compliance costs and improving the tax system.
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