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IGST stands for Integrated Goods and Services Tax. It is a term commonly used in the context of taxation in India. Introduced as part of the Goods and Services Tax (GST) regime, IGST is a comprehensive indirect tax levied on the supply of goods and services between different states and union territories. This tax mechanism ensures seamless movement of goods and services across state borders and promotes the concept of “one nation, one tax”.
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Igst Full Form in English
IGST stands for Integrated Goods and Services Tax. It is a type of tax levied on the movement of goods and services between different states in India. The implementation of IGST aims to streamline the taxation process and create a unified tax structure for the country. This tax is levied on inter-state supplies of goods and services, as well as imports, and it is administered by the central government. The revenue generated from IGST is distributed among the central and state governments based on pre-determined rules. Overall, IGST plays a crucial role in facilitating trade and commerce across state borders and helps in maintaining a harmonious taxation system in the country.
Igst Full Form in Hindi
IGST का पूर्ण रूप इंटीग्रेटेड गुदाजरात-स्थिति शुल्क है। यह भारतीय कर व्यवस्था में एक प्रकार का कर है जो देश के विभिन्न राज्यों के बीच वस्तुओं और सेवाओं के आदान-प्रदान पर लगाया जाता है। इसका उद्देश्य वस्तुओं की आपूर्ति को नष्ट न करते हुए प्रभावी तरीके से टैक्स को वितरित करना है। इंटीग्रेटेड गुदाजरात-स्थिति शुल्क द्वारा लगाया जाने वाला कर देश के विभिन्न राज्यों को समानरूप से राजस्व प्राप्त करने का सुनिश्चित करता है।
In conclusion, IGST stands for Integrated Goods and Services Tax. It is a tax levied on the supply of goods and services between different states in India. This tax aims to promote and facilitate the seamless movement of goods across state borders, ensuring uniformity and avoiding multiple taxes. The introduction of IGST has simplified the taxation process and streamlined the inter-state movement of goods, benefiting both businesses and consumers alike.