Calculating GST

GST is one indirect tax for the whole nation, which is designed to turn India into a common unified market for taxation purposes.

GST or Goods and Services Tax is a single tax on the supply of goods and services, right from the manufacturer to the consumer. Credits of input taxes paid at each stage will be available in the subsequent stage of value addition, which makes GST essentially a tax only on value addition at each stage.

The final consumer will thus bear only the GST charged by the last dealer in the supply chain, with set-off benefits at all the previous stages. For the financial market sector, the GST is fixed at 18%.