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What is GST? CGST, SGST & IGST

GST stands for Goods and Services Tax which is a destination based, indirect tax replacing various previously applicable indirect taxes e.g., Service Tax, VAT etc.

by Inwisely in GST


GST stands for Goods and Services Tax which is a destination based, indirect tax replacing various previously applicable indirect taxes e.g., Service Tax, VAT etc. The Goods and Service Tax Act came into effect since 1st July 2017, after being passed in the Parliament on 29 March 2017.

Within the GST regime, tax is applicable at every point of sale. For intra-state supplies, CGST (Central GST) and SGST (State GST) are levied while inter-state supplies attract IGST (Integrated GST).

Tags: gst cgst sgst igst gst software billing software inwisely

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