Explanation:

Goods and Service Tax (GST) is the single comprehensive indirect tax, operational from 1 July 2017, on supply of goods and services, right from the manufacturer/ service provider to the consumer. It is a destination-based consumption tax with facility of Input Tax Credit in the supply chain. It is applicable throughout the country with one rate for one type of goods/service. It has amalgamated a large number of Central and State taxes and cesses. It has replaced large number of taxes on goods and services levied on production/sale of goods or provision of service. GST has simplified the multiplicity of taxes on goods and services.
The laws, procedures and rates of taxes across the country are standardized. It has facilitated the freedom of movement of goods and services and created a common market in the country. various taxes on consumers. It has also reduced the overall cost of production, which will make Indian products/services more competitive in the domestic and international markets.
It will also result into higher economic growth as GDP is expected to rise by about 2%.
Compliance will also be easier as all tax payment related services like registration, returns, payments are available online through a common portal www.gst.gov.in.
It has expanded the tax base, introduced higher transparency in the taxation system, reduced human interface between Taxpayer and Government and is furthering ease of doing business.
All the above statements are correct.