What is GST?
GST (Goods and Services Tax) is the single indirect tax India charges on most sales of goods and services. Within a state it is split equally into CGST and SGST, and on sales between states it is charged as IGST.
Example
A ₹10,000 service taxed at 18% carries ₹1,800 of GST. Sold within the same state, that appears on the invoice as ₹900 CGST and ₹900 SGST.
Related terms
Inflation
Inflation is the rate at which the general level of prices for goods and services rises over time, reducing the purchasing power of money. Moderate inflation is normal in a growing economy; high inflation erodes savings.
Interest Rate
An interest rate is the cost of borrowing money or the reward for saving it, expressed as a percentage. Central banks adjust benchmark rates to influence inflation and growth.