What is the Full form of GST? Types of GST in India

The new indirect tax regime was implemented by the Government of India on 1st July 2017 with the objective of making compliance easier for businesses. You must have heard about it. You must know that GST has replaced many indirect taxes in India like excise duty, VAT, service tax etc.

We all have heard the name of GST but there are many people who do not know about its full form. Let’s know what is the full form of GST.

Full form of GST

Full form of GST – Goods and Service Tax. This tax has to be paid on the purchase of goods or the use of services. This tax system is applicable in all the states and union territories of India.

Brief explanation of GST in India

Many countries have already implemented Goods and Service Tax; in India, it was implemented on 1st July 2017. This tax must be paid on purchasing goods or use of services. It is a single domestic indirect tax law for the entire country.

How many types of GST in India

There are four different types of GST in India which are as follows –

  1. Central Goods and Services Tax  (Short form – CGST)
  2. State Goods and Services Tax (Short form – SGST)
  3. Integrated Goods and Services Tax (Short form – IGST)
  4. Union Territory Goods and Services Tax (Short form – UTGST)

Do you know which was the first country to implement GST?

France was the first country to introduce GST in 1954.

Lal Anant Nath Shahdeo

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