IGST

The Integrated Goods and Services Tax (IGST) is a type of tax applied under the Goods and Services Tax (GST) regime in India. IGST is levied on interstate supplies of goods and services, as well as on imports into the country. It is designed to ensure a seamless flow of tax credit between states, thereby avoiding the cascading effect of taxes. The tax collected under IGST is shared between the central and state governments based on the place of consumption. This helps in maintaining uniformity in tax rates across the country and facilitates the ease of doing business.