GST internationally

Although GST is likely to be introduced in India in 2017, this is a widely accepted indirect taxation system followed in over 160 countries globally. It is known internationally as VAT(Value Added Tax) or as Goods & Service Tax and was first introduced in France in 1954. GST (or VAT) is a comprehensivelevy of tax on goods and services at each point of sale/service. The standard rate in most countries ranges between 15%-20% and most countries have a single GST rate.
The latest country to implement GST is Malaysia in 2014.

The latest country to implement GST is Malaysia in 2014.

Discussed below is the GST scenario of some countries around the globe