‹ The Bank Account
GST. One tax instead of seventeen.
Front
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GST
One tax instead of seventeen
One tax on the final price, replacing a chain of separate taxes.
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Back
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Before GST, a shirt was taxed when the cotton was sold, when the fabric was woven, when the shirt was stitched, and when the shop sold it. Each tax stacked on the one before. GST replaced all of those with one tax, charged only on the value added at each step. The shirt costs less. The maths is cleaner.
- GST has four rates: 5%, 12%, 18%, and 28%. Items people need most are taxed at the lowest rate.
- Check any restaurant bill. The GST line shows how much of your meal went to the government.
SourceGST Council, Government of India
Pre-GST tax structure documentation
Pre-GST tax structure documentation
Keep exploring
Because you read GST.
Money SenseGL-00007
The SIP
Small bets, long game
A fixed amount put into an investment on the same day every month.
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EMI
The cost of "easy"
A large price broken into equal monthly payments, with interest added.
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The Bank Account
Where your money lives
A record at a bank showing money held in a person's name.
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