FULL FORM OF IGST??????????
Answers
●Integrated Goods and Services Tax
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Answer:
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The meaning of IGST or Integrated Goods and Services Tax (IGST) is the tax collected on interstate transactions when the seller and the consumer are located in different states.
Note: Any tax liability obtained under SGST can be set off against SGST or IGST input tax credit only. An example for CGST and SGST: Let's suppose Rajesh is a dealer in Maharashtra who sold goods to Anand in Maharashtra worth Rs. 10,000. The GST rate is 18% comprising of CGST rate of 9% and SGST rate of 9%.
Ex: IGST is a part of Goods and Service Tax (GST). IGST means Integrated Goods and Service Tax, one of the three categories under Goods and Service Tax (CGST, IGST and SGST) with a concept of one tax one nation. ... For example, if goods are moved from Tamil Nadu to Kerala, IGST is levied on such goods.