GST Categories This maybe new to most of you, but yes, there are two different product categories regarding taxation - GST levied and GST exempt. Let’s understand how and what are these items. There’s a whole list of items which comes at a GST-free price. It’s a lesser-known fact that GST is not applicable to every product sold in the market. But here’s an interesting fact: Not all products come with GST.
So much so that we’ve got habituated to calculating a product’s cost after adding its GST rate. Today while selling or buying anything GST is in the back of everyone’s mind. It is a single domestic indirect tax law for the entire country and the amount depends on the goods and services availed.
According to Cleartax, GST or Goods and Services Tax is an indirect tax which has replaced many indirect taxes in India such as the excise duty, VAT, services tax, etc.
