UNDERSTANDING THE DIFFERENCE BETWEEN CURRENT TAXATION AND THE NEW GOODS AND SERVICES TAX (GST) IN INDIA: IMPACT AND BENEFITS

India's taxation system has undergone a significant transformation with the introduction of the Goods and Services Tax (GST). GST replaced a multitude of indirect taxes levied by the central and state governments, creating a unified tax structure across the country. While the new tax regime offers several benefits, it also brings along challenges,