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CGST Full Form and CGST Meaning

The abbreviation “CGST” refers to Central Goods and Services Tax. Under Goods and Services Tax (GST), the CGST (Central Goods and Service Tax) Act, 2017 has been authorized to arrange for levy and collection of tax on supply of goods and/or services in case of intra-state supply by the Central Government and the issues associated … Read moreCGST Full Form and CGST Meaning

Amendment in GST ITC Set off Rules and Impact Analysis

The government has amended the CGST Act 2017 vide CGST Amendment Act 2018, one of the most important change is the new order to set-off GST credit, w.e.f 1st February 2019. According to this new rule, IGST credit shall be fully utilized before utilizing the credit of CGST and SGST. Impact of amendment   Rules … Read moreAmendment in GST ITC Set off Rules and Impact Analysis

Top CGST Amendment Act 2018 Updates Applicable from 1st February 2019

The government has published below amendment in the act through official Gazette on 30 August 2018. However, it is going to be applicable from 1st February 2019. Important Changes in CGST ACT 2017 You can find some of the important changes made in CGST ACT 2017 through CGST Amendment Act 2018, which is going to … Read moreTop CGST Amendment Act 2018 Updates Applicable from 1st February 2019

Cross-Utilization of Credits and Fund Transfer

The Goods and Services Tax (GST) was introduced as a unification of indirect taxes. It was mainly divided into Central (CGST), State (SGST), and Integrated (IGST) GST. CGST and SGST mainly apply to supplies within a state, whereas IGST is applied on interstate and international supplies. CGST is a representation of tax levied by the … Read moreCross-Utilization of Credits and Fund Transfer

CGST, SGST, IGST and UGST – Meaning, Apportionment and Method of Payment

Unlike the Value Added Taxation (VAT) laws, the Goods and Service Tax (GST) is a destination-based tax. It means that it has to be collected and deposited in the state where the end-user or the consumer buys the goods or services. India is a federal country, where both the Central and State governments are empowered … Read moreCGST, SGST, IGST and UGST – Meaning, Apportionment and Method of Payment