With the introduction of GST in India, it has become important for businesses to plan their taxes in order to maximize their savings. GST tax planning is a process of analyzing and understanding the various aspects of GST and its implications on businesses. It involves understanding the different types of taxes applicable, filing returns on time, and taking advantage of available exemptions and deductions. The Budget 2023 India has proposed several measures to simplify GST compliance for businesses. This includes simplifying the return filing process, introducing new tax slabs, and providing incentives for small businesses. With these measures in place, it is now easier than ever for businesses to plan their taxes effectively and save money on their GST payments. GST is levied on the supply of goods and services in India. Although there are multiple taxes levied under GST, the most important one is the GST Compensation Tax. There are four types of Compensation Taxes – Central Tax, State Tax, Special Category States Tax, and Union Territory Tax. The central tax is applicable to all goods and services except those which fall within the exclusions list under Section 9(1) of the CGST Act as well as those which are allocated to states or union territories by notifications issued by respective state governments or union territory administrations after consultation with other states or union territories.