GST is the-indirect tax levied on goods and services across the country. It is a comprehensive, multi-stage, destination-based tax that is levied on every value addition.
There are 3 taxes applicable under this system
(i) CGST: Collected by the Central Government on an intra-state sale (Example: transaction happening in Tamil Nadu)
(ii) SGST: Collected by the State Government on an intra-state sale (Example: transaction happening within Tamil Nadu)
(iii) IGST: Collected by the Central Government for inter-state sale (Example: Punjab to Tamil Nadu).

(i) Integrity: we will be fair, honest, transparent and ethical in our conduct; everything we do must stand the test of public scrutiny.
(ii) Excellence: We will be passionate about achieving the highest standards of quality, always promoting meritocracy.
(iii) unity: we will invest in our people and partners, enable continuous learning, and build caring and collaborative relationships based on trust and mutual respect.
(iv) Responsibility: We will integrate environmental and social principles in our businesses, ensuring that what comes from the people goes back to the people many times over.
(v) pioneering: We will be bold and agile, collrageously taking on challenges, using deep customer insight to develop innovative solutions.
(vi) Mission: To improve the quality of life of the communities we serve globally through long-term stakeholder value creation based on Leadership with Trust.

Tata has always been values-driven. These values continue to direct the growth and business of Tata companies. The five core Tata values underpinning the way we do business are:
(i) Integrity: We will be fair, honest, transparent and ethical in our conduct; everything we do must stand the test of public scrutiny.
(ii) Excellence: We will be passionate about achieving the highest standards of quality, always promoting meritocracy.
(iii) Unity: We will invest in our people and partners, enable continuous learning, and build caring and collaborative relationships based on trust and mutual respect.
(iv) Resonsibility : We will integrate environmental and social principles in our businesses, ensuring that what comes from the people goes back to the people many times over.
(v) Pioneering: We will be bold and agile, courageously taking on challenges, using deep customer insight to develop innovative solutions.
(vi) Mission: To improve the quality of life of the communities we serve globally through long-term stakeholder value creation based on Leadership with Trust.

The significance of understanding business environment is as follows
(i) Helps in formulating strategy and future planning
(ii) Enables to identity the opportunities available
(iii) Environment scanning
(iv) Business aids
(v) Public image
Internal factors affecting business:
(a) Values system:
The values of the founder/owner of the business, percolates down to the entire organization and has a profound effect on the organisation.
(b) Vision and objectives:
The vision and objectives of a business guides its operations and strategic decisions.
(c) Management structure and nature:
The structure of management/board and their style of functioning, the level of professionalism of management and the composition of the board are the various factors which affects the decision making.
(d) Internal power relations:
This refers to the internal power relations that exist in an organisation.
(e) Human resources : 
The success of an enterprise is solely dependent on its manpower. Therefore the quality, skill competency, right attitude and commitment of its human resources is essential for the success of an organisation.
(f) Company image:
The image of an organisation plays an important role in introducing new products, selecting agents and dealers for distribution, forging alliances with suppliers, expanding and entering new markets both domestic and international, raising finance etc.

Economic environment:
The business is an integral part ofthe economic system prevalent in a nation. The multiple variables in the macro environment system which has a bearing on a business include
(i) The nature of economy based on the stage of development:
1. The countries across the globe can be categorised on the basis of growth and per capita income as developed nations, developing nations and under developed nations.
2. The USA, Japan, Germany, Canada and Australia developed economies generally have high degree of technological advancement, very strong and robust industrial base, and high standard of living.
3. Many of these developed nations have successtully integrated the computer based technologies with their existing business.
4. Developing nations like India, China, Brazil Mexico are middle income economies are characterised by low to moderate industrial growth, the inequality in the distribution of income, high population, a low standard living and slow absorption of technology.
5. Under developed nations are low income economies with a very low degree of technology adoption and a very poor standard of living.
(ii) The nature of economic systenm: The economic systems can be classified as Capitalistic, Socialistic and Mixed economy. Capitalistic economy is a free enterprise market where individual ownership of wealth is predominant. Socialistic economy is a state controlled with a lot of restrictions on private sector. Mixed economy is a combination of both state owned and private sector ownership.
(iii) The econonmic policies of a nation: Monetary policy, fiscal policy, Export-import policy, Industrial policy. Trade policy, Foreign exchange policy etc., are part of the economic environment.
(iv) Economic indices: The Economic indices like GDP, GNP national income, per-capita income, balance of payments, rate of savings and investments etc., form an important part of economic environment.
(v) Development of financial market: The organisation and development of money market, capital market, securities market and the banking system has a greater impact.
(vi) Economic structure: The Economic structure includes capital formation, investment pattern, composition of trade balance, occupational distribution of workforce and the structure of national output.