GST
GST (Goods and Services Tax) is a single tax that is levied on the supply of goods and services in India. It replaced multiple indirect taxes such as VAT, service tax, excise duty, and others, creating a unified tax structure across the country. The goal of GST is to simplify the tax system, promote ease of doing business, and ensure a transparent tax regime.
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FAQ about GST
GST (Goods and Services Tax) is a single tax on the supply of goods and services, replacing various indirect taxes like VAT, service tax, and excise duty.
CGST (Central GST): Collected by the Central Government on intra-state sales.
SGST (State GST): Collected by State Government on intra-state sales.
IGST (Integrated GST): Collected by Central Government on inter-state sales.
GSTIN (GST Identification Number) is a unique registration number assigned to each GST-registered business.
Yes, returns can be amended by filing a revised return or rectifying errors during subsequent return filings.
Yes, you can apply for a refund if you have excess tax paid or a balance in your Input Tax Credit that hasn’t been utilized.
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