GST Full Form ~ Hey Guy’s Do you want to know the full form of GST. In this post we shall discuss about GST. This artical is fully based on gst. So Guy’s first of all we shall know what is gst and how it works?
What is GST and How it Works
GST is a consumption based tax levied on sale, manufacture and consumption on goods & services at a national level. This tax will be substitute for all indirect tax levied by state and central government. Exports and direct tax like income tax, corporate tax and capital gain tax will not be affected by GST.
GST would apply to all goods other than crude petroleum, motor spirit, diesel, aviation turbine fuel and natural gas. It would apply to all services barring a few to be specified. With the increase of international trade in services, GST has become a global standard. The proposed tax system will take the form of “dual GST” which is concurrently levied by central and state government. This will comprise of:
- Central GST (CGST) which will be levied by Centre
- State GST (SGST) Which will be levied by State
- Integrated GST (IGST) – which will be levied by Central Government on inter-State supply of goods and services.
Hope You Understand about GST. Now we will know What is the Full form of GST?
What is The Full Form oF GST | GST Full Form
The Full Form Of gst is given below:
G = Goods And
S = Service
T = Tax
“GST = Goods And Service Tax” is The Full Form of GST. Goods and Services Tax (GST) is an indirect tax which was introduced in India on 1 July 2017 and was applicable throughout India which replaced multiple cascading taxes levied by the central and state governments.
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