Free Press Journal

One year of GST! Did you know? GST also stands for these 10 things


One Year of GSTOne Year of GST

July 1, 2018 marks one year of the Goods & Services Tax (GST). While the debate over how beneficial the tax regime has been to the country remains debatable, one cannot deny the fact that GST has had a significant impact on the economy as a whole. The pros and cons will be kept discussing in the times to come.

Real estate sector players say the benefits of GST — frequently termed as the “most radical tax reform in India’s history” — mostly lie in the long-termed macro-economic scenario while loopholes are many in the current scheme of things.

On a lighter note though, we look at other full forms of GST, which are not as taxing!

Gulf Standard Time: One of the many world time zones

General Systems Theory: One among several methodologies used to understand complex phenomenon and problems

Generation Skipping Transfer: In the US, a generation skipping transfer (GST) means shift of property by gift or at death to a person who is two or more generations below that of the one giving the gift

Ground Surface Temperature: It is defined as the surface or near-surface temperature of the Ground measured in uppermost centimetres of ground

Global Science and Technology: A software company found in 1991

Geological Survey of Tanzania: Government agency responsible for acquisition and storage of geoscientific data and information used in mineral resources and other sectors of the economy

Gulf States Toyota: It is one of America’s most successful private companies and one of the world’s largest distributors of Toyota vehicles and parts

Gnome System Tools: A computing software for Linux and other Unix-like operating systems

Gabbar Singh Tax: Rahul Gandhi referred to GST as Gabbar Singh Tax

Great Selfish Tax: Mamata Banerjee called GST the ‘Great Selfish Tax’