What is IGST..............?
Answers
Hello ❤️
GST stands for Good Service and Tax it is the indirect tax on supply or goods.
Hope it will help you ☺️
Answer:
Before the introduction of GST, there were multiple taxes, such as the service tax, central excise, and state value-added tax (VAT). However, GST is just one tax with three categories—IGST, SGST, and CGST—that depend on whether the performed transaction is intrastate or interstate.
Explanation:
The Goods and Service Tax (GST) is a term signifying a one tax, one nation policy. An end user that consumes any good(s) or service(s) pays the GST. We get the concepts of IGST, SGST and IGS when we observe the ways in which GST removes the cascading effect of taxes. These terms have the following meanings:
♦ IGST: Integrated goods and service tax
♦ SGST: State goods and services tax
♦ CGST: Central goods and services tax.