CGST Full Form In English
CGST stands for Central Goods and Services Tax, which is a part of the Goods and Services Tax (GST) system in India. It is levied by the Central Government on the supply of goods and services within a single state. The revenue collected through CGST goes directly to the central government. CGST works alongside SGST (State Goods and Services Tax), where both central and state governments share tax revenues on intra-state transactions. The introduction of CGST simplified the indirect tax structure by replacing multiple central taxes like excise duty, service tax, and others, ensuring uniformity and reducing the tax burden on consumers.
CGST Full Form In Hindi
CGST का अर्थ सेंट्रल गुड्स एंड सर्विसेज टैक्स है, जो भारत में लागू वस्तु एवं सेवा कर (GST) प्रणाली का एक महत्वपूर्ण हिस्सा है। यह कर केंद्र सरकार द्वारा एक ही राज्य के भीतर वस्तुओं और सेवाओं की आपूर्ति पर लगाया जाता है। CGST से प्राप्त राजस्व सीधे केंद्र सरकार को जाता है। यह SGST (स्टेट गुड्स एंड सर्विसेज टैक्स) के साथ मिलकर काम करता है, जहाँ राज्य और केंद्र सरकार दोनों कर संग्रह में हिस्सेदारी करते हैं। CGST की शुरुआत ने पुरानी अप्रत्यक्ष कर प्रणाली जैसे एक्साइज ड्यूटी, सर्विस टैक्स आदि को समाप्त कर दिया और पूरे देश में एक समान कर ढांचा प्रदान किया।
Read More: RTI Full Form In English And Hindi
Frequently Asked Questions
What is the full form of CGST?
The full form of CGST is Central Goods and Services Tax.
Who collects CGST in India?
CGST is collected by the Central Government on intra-state supply of goods and services.
How is CGST different from SGST?
CGST is levied by the Central Government, while SGST is levied by the State Government on the same transaction within a state.
When was CGST implemented in India?
CGST was implemented on 1st July 2017 as part of the GST reform.
What taxes were replaced by CGST?
Ans CGST replaced several indirect taxes such as excise duty, service tax, and central surcharges.
Conclusion
CGST is a vital component of the Goods and Services Tax system in India that simplifies the taxation process by bringing multiple central taxes under one umbrella. It ensures transparency, uniformity, and ease of doing business, while also contributing to the revenue of the central government.
