What is GST?

 

What is GST?

The Goods and Services Tax (GST), a consumption-based tax designed to boost the efficiency and openness of the Indian tax system, is charged when we purchase products or services. There are three types of this tax: the Integrated Goods and Services Tax (IGST), Central GST (the CGST), and State GST (SGST). While CGST and SGST are applicable for internal delivery, IGST applies for shipping above state lines. Getting a handle on these basic differences is necessary for understanding “what is GST in India”.