The document provides an overview of the Goods and Services Tax (GST) system that was implemented in India in 2017. It describes the existing indirect tax structure, the key aspects of GST including CGST, SGST, IGST and UTGST. It explains the taxes that will be subsumed under GST and those that will not. The document also summarizes features like input tax credit and the various GST returns required to be filed by businesses.