Master Mnemonic for GST – "GST-GURU"

Each letter in GST-GURU represents a key aspect of GST: G – Grand Tax Reform → Replaced 7 major taxes like Excise, VAT, Service Tax, etc. S – Structure & Types → 4 Types: CGST, SGST, IGST, UTGST. T – Tax Slabs → 0%, 5%, 12%, 18%, 28% (+ special rates for Gold, Real Estate). G – Goods & Services Scope → GST covers most goods & services but excludes Petrol, Diesel, Alcohol, and Electricity. U – Uniform ITC System → Eliminates "Tax on Tax" through Input Tax Credit (ITC). R – Returns & Compliance → Regular filing required (GSTR-1, GSTR-3B, GSTR-9), with turnover limits ₹40 lakh (Goods), ₹20 lakh (Services). U – Unification & Benefits → "One Nation, One Tax" simplifies taxation and boosts economic growth.