CHAPTER-1 GST INTRODUCTION AND CONSTITUTION:-(परिचय और संविधान ) PART-2

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                                         GST INTRODUCTION AND CONSTITUTION




                                                      WHAT IS GST; -

 

                           - GST is a TAX imposed on GOODS and /or SERVICES.


                           - There must be a Supply of GOODS/SERVICES.


                           - Supply Can be of TWO TYPES AS FOLLOWS--





1. INTERSTATE SUPPLY: -   

                                                      Where the origin & destination of Supply fall under 2 Different States, 

UTs, State & UT, Countries, then the Supply will be INTER-STATE, and IGST would be levied.

IGST will be payable to C.G., and the CGST portion out of IGST & Balance Portion (SGST) will be 

Transferred to Destination or Consuming State. [Where Destination is a UNION TERRITORY then 

Balance portion (UT GST) will be retained by C.G. itself in a different Pocket / Account.







2. INTRA-STATE: -    
                                    
                                  Where the origin and Destination of Supply fall under the Same State/UT, 

Then the Supply will be INTRA-STATE & ACCORDINGLY CGST & SGST /UT GST would be 

Payable.








                                                    GST LAW: -

  • For Levy and collection of CGST, CGST Act,2017 (Total 1 Act)
  • For Levy and collection of SGST, SGST Act, 2017 (Total 3 Acts)
  • For Levy and collection of UTGST UT GST Act, 2017 (Total 1 Act)
  • For Levy and collection of IGST, IGST Act, 2017 (Total 1 Act)
  •  For Levy and collection of GST Compensation Cess, GST Compensation Cess Act, 2017 (Total 1 Act)         






























                                           

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