Types of GST in India- CGST, SGST, IGST and UTGST Explained.GST stands for Goods and Services Tax. It is considered as the biggest taxation reform in the history of Indian economy. It will subsume multiple taxes like VAT, Service Tax, CST, excise and additional excise duty, entertainment and luxury tax.GST is a type of value added tax and a proposed comprehensive indirect tax levy on manufacture, sale and consumption of goods as well as services at the national level.Refer more GST Software it will replace all indirect taxes levied on goods and services by the Indian central and state governments.The importance of the GST is that when applicable it will abolish all indirect taxes. Hence the entire system of taxation will be simpler