GST Calculator

 

Introduction to GST

Goods and Services Tax (GST) is a value-added tax applied to most goods and services sold for domestic consumption. It is a unified tax system that replaces multiple indirect taxes, making tax collection more efficient and transparent.

Understanding GST

GST is a consumption-based tax, meaning it is paid by the end consumer but collected at each stage of production and distribution. It is categorized into different slabs, such as 5%, 12%, 18%, and 28%, depending on the type of goods or services. Businesses must register for GST and charge it on their invoices while claiming tax credits on the GST they pay for business expenses. This system helps reduce tax evasion and ensures a fair and transparent tax process.

GST Calculator
GST Calculator

Comments

Popular Posts