GST (Goods and Services Tax)
Definition
Unified indirect tax on goods and services in India, replacing multiple state and central taxes. Businesses/professionals with turnover > ₹20L (₹10L in special category states) must register.
In Context
GST rates vary (0%, 5%, 12%, 18%, 28%). Freelancers and consultants with annual receipts > ₹20L must register. Export of services can be zero-rated. GST registration doesn't automatically mean GST tax liability.
Related Terms
Want personalized financial guidance?
Use Kuber.AI to understand how GST (Goods and Services Tax) applies to your financial plan.
Download Kuber.AI
⚠️ Disclaimer: This glossary is for educational purposes. Simplify Money provides analytical insights and guidance. We have applied for SEBI RIA registration.