Question:
What does 'I' stand for in IGST?
What does 'I' stand for in IGST?
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IGST is governed by the IGST Act, 2017, which regulates the taxation of goods and services moving across state lines in India.
Updated On: Jun 5, 2026
- International
- Internal
- Indian
- Integrated
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The Correct Option is D
Solution and Explanation
Concept:
The Goods and Services Tax (GST) system in India categorizes tax into different heads depending on the nature of the transaction. IGST is one of these heads.
Step 1: Decoding the acronym.
Under the GST regime, tax levied on the inter-state supply of goods and services is known as Integrated Goods and Services Tax (IGST).
Step 2: Identifying the 'I'.
The term "Integrated" is used because it combines the Central GST (CGST) and State GST (SGST) components for inter-state transactions. equation Full form of IGST = Integrated Goods and Services Tax equation center Integrated center
Step 1: Decoding the acronym.
Under the GST regime, tax levied on the inter-state supply of goods and services is known as Integrated Goods and Services Tax (IGST).
Step 2: Identifying the 'I'.
The term "Integrated" is used because it combines the Central GST (CGST) and State GST (SGST) components for inter-state transactions. equation Full form of IGST = Integrated Goods and Services Tax equation center Integrated center
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