Open AccessAn overview of the integrated goods and services tax act in india
Author(s) -
T Tamilselvy
Publication year - 2017
Publication title -
journal of management and science
Language(s) - English
Resource type - Journals
eISSN - 2250-1819
pISSN - 2249-1260
DOI - 10.26524/jms.2017.58
Subject(s) - goods and services , state (computer science) , revenue , business , government (linguistics) , commerce , tax revenue , constitution , economics , public economics , market economy , finance , political science , law , computer science , algorithm , linguistics , philosophy
GST focuses on the concept of one tax, one nation. IGST stands for Integrated Goods andServices Tax which is charged on the supply of commodities and services from one state toanother state. Under Article 269A of the Indian Constitution, the inter-state trade andcommerce activities that involve the movement of commodities and services shall be leviedwith an integrated tax (IGST) under the GST regime. The Government of India will collectthe revenue under IGST. Further changes can be made by the Goods and Services TaxCouncil of India. This paper presents an overview of IGST concept, along with levy andcollection of integrated goods and services tax.