GST is on supply of goods and services. There are four Categories of GST under the Act.
Central Goods and Services Tax (CGST) and State Goods and Services Tax (SGST) are levied on the supply in goods and services wherein the supplier and receiver of goods and services are within the state. Further in the case of supply of goods and services within the union Territories of India CGST and UTGST are levied.
Integrated Goods and Services Tax (IGST) is levied on the supply of goods and Services between Two States or Union Territories of India. Further IGST is also levied on the import of goods and services from the place of outside India to the place of imports in India. The rates of GST are contained in the scheduled to the GST Act.
Goods and services Tax are normally payable by the supplier of goods and services. But in some cases, the receiver of goods and services is required to pay under the reversal charge system. The receiver of goods from non-registered supplier of taxable goods in some cases covered under the reversal charge system. Further there are services by goods transport agency, sponsorship services and so on are covered under the reversal charge system.
Cyber Records provide the professional services on Goods and Services Tax. We serve the client on registration, filings and consultations on various aspects of GST law.