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CGST is a part of GST. It is collected by the Central Government. It is a tax levied on Intra State supplies of both goods and services.
CGST Full Form:- To say that even though GST is the only tax left, it is actually charged by four different names – CGST, SGST, UGST and IGST. What is CGST, SGST & IGST? What is their meaning? When is which GST used? We have given information about all these things in this article.
CGST Full Form
सीजीएसटी, एसजीएसटी, UGST और IGST की फुल फॉर्म इस पृष्ठ से जानिए!! CGST, IGST and SCGT are only part of Goods and Service Tax (GST), which has been implemented in India from 1 July 2017. Selling goods within the state will attract CGST (Central goods and service tax) and SGST (State goods and service tax).
CGST Full Form
India is currently going through major reforms in its overall economic sectors. India’s growth rate is so high that it is set to become the world’s third largest economy by 2030. The government is taking important initiatives to promote the overall economic development of the country. Introduction of GST and its 3 variants – CGST, SGST, IGST and UTGST are effectively supporting such major economic development programs.
CGST Full Form
CGST Full Form In English
“Central Goods and Services Tax”
SGST Full Form In English
“State Goods and Services Tax”
IGST Full Form In English
“Integrated Goods and Services Tax”
UTGST Full Form In English
“Union Territory Goods and Services Tax”
CGST Full Form
What Do You Mean By GST?
GST stands for Goods and Service Tax It is considered to be the biggest taxation reform in the history of Indian economy. It will sell many taxes like VAT, service tax, CST, excise and additional excise duty, entertainment and luxury tax etc. It is the only uniform taxation system that will help in eliminating time, cost and effort.
The GST has been introduced in the Parliament as the Constitution Amendment Act 2016 and is regulated by the Union Ministry of Finance, India. It is a consumption-based tax levied on the supply of goods and services which means that it will be levied at each stage of the sale or purchase of goods or services based on the input tax credit method.
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CGST Full Form
Types of GST in India
- CGST is Central Goods and Service Tax
- SGST is State Goods and Service Tax
- IGST is Integrated Goods and Services Tax
These three types of GST are levied based on the aspect of inter-state and intra-state transactions. While CGST and SGST are levied on Intra-state transactions, IGST is levied on Inter-state transactions.
CGST Full Form
What is CGST, SGST & IGST?
CGST (Central Goods and Services Tax):- This Tax is levied and collected by Central Government in India. In the case of intra-state supplies of goods or services within the state, this tax is paid to the central government. That is, if the trader of a state makes a purchase from another merchant of his own state, then on this deal he will have to pay CGST to the Government of India. At present the rate of CGST is equal to State GST (SGST), and it is charged at the same time.
SGST (States Goods and Services Tax):- This Tax is levied and collected by State Government in India. SGST also seems to be in a state of intra-state supplies of goods and services within the state. That is, if the merchant of a state makes a purchase from another merchant of his own state, then he will also have to pay SGST to the state government on this deal. Currently, the SGST rate in India is also equal to the CGST rate.
IGST (Integrated Goods and Services Tax):- This Tax is levied and collected by Central Government apportioned between Union and States. When there is a deal between individuals or businessmen of two different states, then only Integrated GST (IGST) will be imposed on it. This is actually a single tax equal to the total of both CGST and SGST. Only the central government has to pay it. However, after being deposited with the Central Government, it finally gets into two equal parts Cetntral and the State Government where it is consumed. That is, the right to recover IGST rests with the center alone, while the receipt is equal to both the center and the state.
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केंद्रीय वस्तु एवं सेवा कर (CGST) क्या है?
जीएसटी के तहत, सीजीएसटी केंद्र सरकार द्वारा वस्तुओं और सेवाओं दोनों की इंट्रा स्टेट आपूर्ति पर लगाया गया कर है और यह सीजीएसटी अधिनियम द्वारा शासित होगा। एसजीएसटी भी उसी इंट्रा स्टेट आपूर्ति पर लगाया जाएगा, लेकिन राज्य सरकार द्वारा नियंत्रित किया जाएगा।
इसका तात्पर्य यह है कि केंद्र और राज्य सरकारें दोनों अपने राजस्व के बंटवारे के लिए उचित अनुपात के साथ अपने लेवी के संयोजन पर सहमत होंगी। हालाँकि, यह जीएसटी अधिनियम की धारा 8 में स्पष्ट रूप से उल्लेख किया गया है कि वस्तुओं और / या सेवाओं की सभी इंट्रा-स्टेट आपूर्ति पर कर लगाया जाएगा लेकिन कर की दर 14% से अधिक नहीं होगी।
CGST Full Form
Tax Rate Applied By The Government
| S.NO. | DESCRIPTION | RATE OF TAX |
| 1. | SGST | 9% |
| 2. | CGST | 9% |
| 3. | IGST (1+2)= | 18% |
How much tax will be levied on GST?
The GST Council has divided all goods and services into four tax slabs (5 percent, 12 percent, 18 percent and 28 percent). The GST Council has placed 12011 items in these four categories. About 80 items useful to the general public will be subject to zero tax (tax free). Cigarettes, alcohol and petroleum products (petrol, diesel, kerosene and LPG) are currently excluded from GST.
There will be no tax on these – jute, fresh meat, fish, chicken, egg, milk, buttermilk, curd, natural honey, fresh fruits, vegetables, flour, gram flour, bread, prasad, salt, dot, vermilion, stamp paper, printed Books, newspapers, bangles, handlooms, cereals, kajal, children’s drawing, color book etc. Hotels and lodges etc. priced below one thousand rupees.
The GST Council has divided all goods and services into four tax slabs (5 percent, 12 percent, 18 percent and 28 percent). The council has placed 12011 items in these four categories. Apart from cigarettes, alcohol, petroleum products, jute, fresh meats, fish, chicken, poultry, milk, buttermilk, yogurt, natural honey, fresh fruits, vegetables, flour, gram flour, maida, bread, coffee, jaggery, vegetable oil, offerings, No tax will also be levied on salt, bindi, vermilion, printed books, newspapers, bangles, handlooms, grains, kajal, children’s drawing, color books, contraceptives, handloom products etc. Hotels and lodges, judicial documents, stamp papers priced below one thousand rupees are also excluded from GST.
In this post, we learned about the different types of GST to be paid in the GST system. For more information about CGST you can read our article What is CGST? And what is the CGST Full Form. So Kindly stay in touch with us for more useful information. You can also bookmark this page using Ctrl+D abd get valuable updates from this page.
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CGST Full Form
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