- Interstate GST applies to transactions between different states in India, levied by the central government
- Intrastate GST applies to transactions within the same state, with both CGST and SGST being levied
- Key terminologies include CGST, SGST, and IGST
- Interstate GST ensures tax revenue goes to the state where goods or services are consumed
- Intrastate GST supports states’ financial independence by allowing them to retain revenue from local transactions
- Interstate GST applies to transactions across state borders, while Intrastate GST applies to transactions within the same state
- Understanding the differences between Interstate and Intrastate GST is crucial for businesses to ensure compliance and optimize tax management.
Source: blog.tatanexarc.com
Note that this post was (partially) written with the help of AI. It is always useful to review the original source material, and where needed to obtain (local) advice from a specialist.
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