Respected Principal, teachers and my dear friends, a wonderful morning to all of you. Today on this special occasion, I would like to speak some words on the topic- GST.
GST is the abbreviated form of Goods and Services Tax. It refers to the unified tax policy that was implemented in India in 2017. Before this, states in India would have different tax policies each, which would then be added with the central tax policy to arrive at the amount of tax levied on a certain thing. However, the implementation of GST has created a one nation one tax scenario, which has benefitted India greatly.
Taxes from GST are distributed between the states and the central government in a systematic manner. GST allows tax collection to be smoother and easier all over the country. It also leads to more transparency during tax collection, combatting corruption.
To conclude, GST is indeed an amazing thing! Thank you for listening to me so attentively.