The full form of CST is Central Sales Tax. It is a tax imposed by the Indian government on the sale of goods within the country. The tax is collected by the state government where the goods are sold, and the revenue is then distributed among the states by the central government.
The Central Sales Tax Act, 1956, which governs the levy and collection of CST, was enacted to provide for the levy and collection of tax on sales of goods in the course of inter-state trade or commerce. The tax is levied at the point of first sale, and the rate of tax is determined by the state where the goods are sold.
The CST applies to all goods except those specifically exempt under the Act. The tax is typically calculated as a percentage of the value of the goods sold. The rate of tax varies from state to state, but it is generally around 2%.
The CST is a tax that is levied on the inter-state sale of goods, but it is collected by the state where the goods are sold. This creates a system of tax credit, which allows the seller to claim credit for the CST paid on the goods sold in the state where they are located, and use that credit to offset the CST payable on goods sold in other states.
The CST is a tax on inter-state trade and commerce, and it is imposed to ensure that the states receive a share of the revenue from such trade and commerce. The tax is levied on the sale of goods, and the revenue is collected by the state government. The revenue is then distributed among the states by the central government.
The Central Sales Tax (CST) is a tax that is imposed by the Indian Government on the sale of goods within the country. The tax is collected by the state government where the goods are sold and the revenue is then distributed among the states by the Central Government. It is governed by the Central Sales Tax Act, 1956 and is typically calculated as a percentage of the value of goods sold. The rate of tax varies from state to state but it is generally around 2%. This tax is levied on inter-state trade and commerce to ensure that the states receive a share of the revenue from such trade and commerce.