GST
Also called Goods and Services Tax
Goods and Services Tax: the tax added to the price of most things you buy in India.
GST stands for Goods and Services Tax. It’s the tax added to the price of most goods and services in India, collected by the seller. You pay it without filing anything yourself, but it adds to your costs: on gold, on making charges, and on many fees like a loan processing fee. Rates differ by item, so look for the GST line on your bill.
Questions people ask
What is the full form of GST?
GST stands for Goods and Services Tax. It's the tax added to the price of most goods and services you buy in India, collected by the seller and paid to the government.
Do I pay GST on fees and charges too?
Often, yes. Many fees, such as a loan processing fee or a bank charge, have GST added on top. Your bill or statement usually shows the GST separately, so check it to see the full cost.
One money lesson, in your inbox
A short, plain money lesson built from real news. Free. Unsubscribe anytime.
We will never spam you or sell your details. How we handle your email