- Goods and Service Tax (GST) is an indirect tax that replaced multiple taxes in India. It was introduced following the passage of the Constitution 122nd Amendment Bill. - GST is governed by the GST Council chaired by the Union Finance Minister. Goods and services are taxed at rates of 0%, 5%, 12%, 18%, 28% under GST. - The introduction of GST subsumed many existing taxes levied on goods and services by central and state governments. It is expected to make India a unified common market by improving tax compliance and raising revenue.