Taxation
GST
pronounced: [Gee-Ess-Tee]
Goods and Services Tax is an indirect tax levied on the supply of goods and services across India, replacing multiple cascading taxes.
Rates range from 0% to 28% depending on the category.
Key Facts
| Fact | Value |
|---|---|
| Interest Rate | 0% p.a. |
Example
A restaurant bill of ₹1,000 includes GST at 18% (₹180). If the food alone costs ₹820 and GST is ₹180, the total billed is ₹1,000. Businesses can claim input tax credit on GST paid.
Frequently Asked Questions
Related Terms
Last updated: 21 May 2026