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. INTER STATE SUPPLY:-   

                                                      Where 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 retain CGST potion out of IGST & Balance Portion (SGST) will be 

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

balance Portion ( UT GST) will be retained by C.G. itself in different Pocket / Account]







2 . INTRA STATE:-    
                                    
                                  Were origin and Destination of Supply falls under 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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