The following pulls all category from a custom taxonomy that has a slug as ‘product-type’

function getcategoryname_forproduct($postid){
	$categorys = get_the_terms($postid,'product-type'); 
	foreach ($categorys as $category) {
		$categor .= $category->name.', '; 
	}
	return rtrim($categor, ', '); 
}

The following pulls all categories a post belongs to default post

function getcategorynameallinpost($postid){
	$categorys = get_the_category($postid); 
	foreach ($categorys as $category) {
		$categor .= $category->name.', '; 
	}
	return rtrim($categor, ', '); 
}

Following Pulls all the tags (Custom Taxonomy in this case) of the post (custom post type in this case)

   
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