GST Full Form

What is The Full Form of GST 

The full form of GST is Goods & Service Tax. This taxing system was implemented in 2017 by the NDA government, and it is known to be a single taxation system. When the government levies the indirect tax, all the tax components have now been compiled into GST. Before the implementation of GST, you could have seen different taxes on your bill. This would have included VAT, Luxury Tax, Central Excise Tax, Service Tax, Entry Tax, Entertainment Tax and other such taxes.

Today, if you look at the bill, you will only find three types of entries which are IGST, SGST and CGST. We have shared more information about this in the pointers below.

Types of GST

There are three different types of GST, and the details are listed below

• The full form of SGST is State Goods & Services Tax, and it is within the boundaries of the state government. Earlier, this component had a luxury, entry, entertainment, and state income tax.
• The full form of CGST is Central Goods & Services Tax, and this tax includes excise duty, service taxes and other taxes which are often controlled by the government.
• The full form of IGST is Integrated Goods & Services Tax, and this tax is applicable for the international delivery of services & goods.