This document provides an overview of the Goods and Services Tax (GST) that is proposed to be implemented in India. It defines GST as a comprehensive tax on the production and sale of goods and provision of services. The key points are: 1) GST will replace existing indirect taxes and be collected as Central GST and State GST by the central and state governments respectively to reduce complexities and compliance costs. 2) There will be four tax rates for essential goods and services, standard goods and services, precious metals, and exempt categories. 3) Businesses must register for GST if their annual turnover exceeds Rs. 1.5 crore and file regular returns detailing taxes collected. Input