what is GST TAX ? and what is SGST TAX '
Answers
Answer:
Goods and Services Tax is an indirect tax used in India on the supply of goods and services.
Answer:
The short form of Goods and Service Tax is GST. Goods and Service Tax implementation is the great tax regime movement of this decade in India by rectifying tax on tax. GST eliminates many indirect taxes like central excise tax, sales tax, service tax etc. with an aim of ‘one nation one tax’. The Prime minister of India calls tax system before GST is ‘Tax Terrorism’. GST is imposed at end user level of movement of goods and services.
The full form of SGST is State Goods and Service Tax. SGST is one of the three components of GST (The other two are CGST and IGST). SGST is levied at the final stage of distribution of goods and services. SGST amount is meant for state government.