<p style="text-align:justify"><span style="font-size:11.0pt"><span style="color:#34495e">GST stands for Goods and Services Tax, which is levied on supply of goods or services. &ldquo;Supply&rdquo; is a legal term which has very broad sweep and various types of economic activities are covered by it. For example, sale of goods is a type of supply.</span></span></p>