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Integrated Goods and Services Tax

If the transportation of goods and services happens between the states, it is called inter-state transactions. IGST is applicable only to inter-state transactions. IGST extended form is Integrated Goods and Services Tax. IGST percentage varies from 0%, 0.25%, 3%, 5%, 12%, 18%, and 28% depending on the commodity. <br>You can use Eazybills for filling IGST, CGST, and SGST. <br>

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Integrated Goods and Services Tax

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  1. INTEGRATED GOODS AND SERVICES TAX 7068073935 www.eazybills.com

  2. ABOUT US India gives both central and state governments the power to levy and collect taxes. Traditionally, there were so many types of indirect taxes running together that made the country's taxation system complicated. However, after GST (Goods and Services Tax) 2017, the system became much smoother and easier to understand.

  3. BILLING SOFTWARE About Company Features of IGST 01 04 IGST: Meaning IGST Refund 02 05 Objectives of IGST CGST, SGST, and IGST 03 06 www.eazybills.com

  4. IGST: MEANING If the transportation of goods and services happens between the states, it is called inter-state transactions. IGST is applicable only to inter-state transactions. IGST extended form is Integrated Goods and Services Tax. IGST percentage varies from 0%, 0.25%, 3%, 5%, 12%, 18%, and 28% depending on the commodity. You can use Eazybills for filling IGST, CGST, and SGST.

  5. OBJECTIVES OF IGST The following are the two main objectives of the IGST Act: To prevent a cascading effect, allow inter-set off state and central GST. To help in fulfilling the principle of destination-based consumption tax.

  6. FEATURES OF IGST IGST is the total of CGST and SGST. The government charges this on the Interstate and the cross-border transactions of Goods and Services. There will be a uniform IGST rate across the country. The Centre and State will share IGST. Interstate traders will pay IGST after adjusting the I - G - S -T available input on the transactions.

  7. IGST REFUND Integrated Goods and Services Tax Exporters can export goods with payment of Integrated Goods and Services Tax or without payment of Integrated GST (IGST) under Bond or Letter of Undertaking (LTU). In both cases, he is eligible for an IGST Refund.

  8. DIFFERENCES BETWEEN CGST, SGST, AND IGST I-G-S-T S-G-S-T C-G-S-T There are several critical differences between CGST, SGST, and IGST. Let's take a look into some fundamental differences: Applicability- CGST and IGST apply to intra-state goods and services supply. IGST applies to inter-state goods and services supply. Tax Collecting Authority- the central government collects CGST, the state government collects SGST, and the central government collects IGST. Still, there is equal distribution of revenue between central and state governments. Input Tax Adjustment Permissible- You can use the input tax credit of CGST against CGST or IGST but not SGST. In the case of SGST, you can use Input Tax Adjustment against SGST or IGST but not CGST.

  9. CONTACT US info@eazybills.com www.eazybills.com 7068073935

  10. THANK YOU

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