What is GST and GST on commission?

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GST stands for Goods and Services Tax, a tax levied on the supply of goods and services in India.

GST is a comprehensive indirect tax that has replaced many indirect taxes in India.
It is levied on the value-added to goods and services at each stage of the supply chain.
GST on commission refers to the tax levied on the commission earned by a person or entity for providing services.
The rate of GST on commission varies depending on the type of service provided.
For example, the GST rate on commission earned by insurance agents is 18%.
GST has simplified the tax structure in India and made it easier for businesses to comply with tax regulations.

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