CGST Full Form | What Does CGST Stand For?

CGST: Central Goods and Services Tax

CGST Full Form

CGST full form stands for Central Goods and Services Tax. The Goods and Services Tax (GST) is an indirect tax (or consumption tax) used on the supply of goods and services in India. It is a comprehensive, multilateral, destination tax: Comprehensive because it has collected almost all indirect taxes except for some state taxes.

As it happens, GST is applied at every stage of the production process, but it is intended to reimburse all parties at different stages of production except the end-user and as a destination tax, attributable to earlier points like taxes goes.

Brief Explanation

The Goods and Services Tax Network (GSTN) is a non-profit organization designed to create a sophisticated network that can reach stakeholders, government, and taxpayers through a single source (portal).

Goods and services are divided into five different tax slabs for tax collection – 0%, 5%, 12%, 18% and 28%. However, petroleum products, alcoholic beverages, and electricity are not taxed under GST and are instead taxed separately by the previous state governments under the previous tax system.

What Is The Full Form Of CGST?

CGST full form stands for Central Goods and Services Tax. It is an indirect tax (or consumption tax) used on the supply of goods and services in India. It is a non-profit organization designed to create a sophisticated network that can reach stakeholders, government, and taxpayers through a single source.

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