<p style="margin-left:72px; text-align:justify"><span style="font-size:14px"><span style="background-color:white"><span style="color:black">The GST regime replaces those confusing taxes with a single, nationwide tax rate. This is intended to unify India&rsquo;s tax system, make it easier to do business, and reduce prices for consumers. Because of India&rsquo;s federal structure, dual GST model had been adopted. This means GST is administered by the central government and the states.</span></span></span></p>

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<p style="margin-left:72px; text-align:justify"><span style="font-size:14px"><span style="background-color:white"><span style="color:black">In India, a dual GST is proposed whereby a Central Goods and Services Tax (CGST) and a State Goods and Services Tax (SGST) will be levied on the taxable value of every transaction of supply of goods and services.</span></span></span></p>

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<p style="margin-left:72px; text-align:justify"><span style="font-size:14px"><span style="background-color:white"><strong><span style="color:black">Summary Chart of Structure of Dual GST Model</span></strong></span></span></p>