GST – Goods and Service Tax

The Goods and Services Tax, popular as GST, is an integrated indirect tax that is levied on manufacture of goods, provision of services and on consumption. GST, which came in to effect in July 2017, has been imposed in the government’s bid to get rid of the tax barriers between states and different types of taxes and improve tax efficiency in the country by operate as a single market. The GST rate slabs range from nil to 28%, across all possible products and services. To know more about GST types, registration process, rate slabs, explore informative blogs on GST in this section at MyLoanCare.