Give brief information about GST.

(Note- This is the most important which is being asked in all the Banking interview questions, so always update yourself with this question and keep detailed information about the topic.)

The full form for GST is Goods and Service Tax. On the supply of any types of services and goods, this GST tax is imposed on those items. In the Parliament on 29th March 2017, this tax was passed. This procedure has a simple online process. It helps in regulating the unorganized sector.