GST, one of the biggest fiscal reforms in India, is the uniform tax system implemented recently, across the nation. With the advent of this new tax system, all the previous taxes have been discontinued. Out of the numerous benefits, the most important one from the introduction of GST is the removal of the cascading tax effect which means a tax on tax. Consequently, a consumer will now pay a single tax on any good or service that is Goods and Services Tax or GST.