What is GST?

Goods and Services Tax (GST) is a consumption-based tax levied on the supply of goods and services. It is designed to consolidate multiple indirect taxes into a single, unified tax structure.

In India, GST is regulated by the Goods and Services Tax Council. GST applies to most goods and services and is structured to replace various central and state-level indirect taxes. Businesses registered under GST must collect tax on taxable sales and file returns on the GST portal.

In Singapore, GST is administered by the Inland Revenue Authority of Singapore (IRAS) and applies to most local supplies as well as imported goods and services. Businesses that are GST-registered are required to charge GST on taxable transactions and submit periodic GST returns to IRAS.