What is the lowdown on the Goods and Services Tax

What is it? It’s the new system proposed to be rolled out from July 1 this year for taxing all goods and services that you consume. The Goods and Services Tax or GST will replace the myriad local, State-level and Central taxes that are built into the price you pay for products, and the service tax as well as cesses that are dovetailed to your outgoes when you dine at a restaurant or pay your mobil…