The Goods and Services Tax (GST) is a single tax applied to the sale of goods and services. It replaces multiple indirect taxes, making the tax system simpler and more efficient. GST is collected at each stage of the supply chain, from production to sale, ensuring that tax is paid only on the value added at each step. GST is designed to be transparent and fair, benefiting both consumers and businesses. It helps reduce the overall tax burden and encourages compliance by providing a clear framework. Many countries, including India and Canada, have implemented GST to streamline their tax systems.