Meaning of the terms CGST, IGST, UTGST and SGST used in GST Regime

Meaning of the terms CGST, IGST, UTGST and SGST used in GST Regime

Govt of India has implemented the largest reform in the matter of indirect taxes, i.e. GST, in 2017 and necessary Acts/ Rules/ Forms have been formulated in due course. To understand GST, one need to study various GST laws (i.e. Acts/ Rules), like CGST, IGST, UTGST, SGST, etc. to understand their full form/ definition/ meaning /scope. These terms are explained in short, as under:

Meaning/ Full Form of CGST ?

Full form of the term CGST is ‘Central Goods and Services Tax’ which relates to levy and collection of tax on “intra-State supply of goods or services or both” by the Central Government under the GST regime. Accordingly, Govt. has notified the “Central Goods and Services Tax (CGST) Act, 2017” for relevant provisions in this regard.

Meaning/ Full Form of IGST ?

Full form of the term IGST is ‘Integrated Goods and Services Tax’ which relates to levy and collection of tax on “inter-State supply of goods or services or both” by the Central Government under the GST regime. Accordingly, Govt. has notified the Integrated Goods and Services Tax (IGST) Act, 2017″ for relevant provisions in this regard.

Meaning/ Full Form of UTGST ?

Full form of the term UTGST is ‘Union Territory Goods and Services Tax’ which relates to levy and collection of tax on “intra-State supply of goods or services or both” by the Union territories under the GST regime. Accordingly, Govt. has notified the “Union Territory Goods and Services Tax (UTGST) Act, 2017” for relevant provisions in this regard.

Meaning/ Full Form of SGST?

Full form of the term SGST is ‘State Goods and Services Tax’ which relates to provision for levy and collection of tax on supply of goods or services or both within the state concerned under the GST regime. Accordingly, the Govts. of the respective states have notified the State GST (SGST) Act, like Delhi GST Act, etc. for relevant provisions in this regard.

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