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Goods and services tax
What does GST stand for in the Indian tax system?
GST stands for Goods and Services Tax, a comprehensive indirect tax levied on the supply of goods and services across India, replacing multiple cascading taxes.
What is the full form of CGST under the GST framework?
Central Goods and Services Tax levied by central government.
When was GST introduced in India?
GST was introduced in India on 1st July 2017, replacing a complex multi-tax structure that included central excise duty, service tax, and state VAT.
What is the full form of SGST under the GST framework?
State Goods and Services Tax levied by state governments.
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