GST is an Indirect Tax, Full form of GST is Goods and services tax.GST is the tax that is usually imposed on buying or selling goods and services.
The rate is charged at different rates on the basis of goods or services, such as 0.25%, 3%, 5%, 12%, 18%, 28% percent.
With the coming of the GST Act, a lot of taxes were removed and they were clubbed inside the GST. The tax is as follows:
Central Excise Duty, Duties of Excise, Additional Duties of Excise, Additional Duties of Customs, Special Additional Duty of Customs, Cess, State Vat, Central Sales Tax, Purchase Tax, Luxury Tax, Entertainment Tax, Entry Tax, Taxes on advertisements, Taxes on lotteries, betting and gambling
Now all these taxes have been removed and only one tax has come, which we know by the name of GST.
There are 4 types of taxes in GST, which are named as follows: CGST, SGST/UTGST, IGST and Compensation Cess.
CGST and SGST/UTGST Charged on the intra-state supply whereas IGST is charged on inter-state movement.
GSTIN denotes Goods and Service Tax Identification Number. GSTIN consists of 15 alphanumeric digits. GSTIN is generated by the system on the approval of government after filing the application for GST Registration.
Documents Required for New Registration Application of a Normal Taxpayer
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