GST is the term used in the context of taxation, full form of GST is Goods and Services Tax. It is not implemented in India yet but it will be soon been done and it will replace the current indirect taxation which is there on various goods and services produced and sold by the producers to consumers. It should be noted these taxes are indirectly levied and hence it is not the producer which pays them but it is the consumer who has to bear the burden of these taxes in the form of higher prices for goods and services purchased or used by them.