GST
Goods and Services Tax
TaxationIndia's unified indirect tax replacing multiple taxes. Has three components: CGST (Central), SGST (State), IGST (Inter-state).
Formula
Intra-state: CGST + SGST; Inter-state: IGST
Why it matters
Affects cost of goods and services. Businesses can claim input tax credit, reducing cascading effect.
Indian example
Related terms
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