Situations when IGST is payable

 

When to pay IGST?

 

Situations when IGST is payableWhat are the situations where IGST is levied?


IGST is one of the three components of GST tax system in India. IGST is the short form of Integrated Goods and Service Tax.

When does the IGST levy on Goods and services? Is IGST payable on exports? Why does IGST attract on imports? Is interstate transfer of goods attracted IGST?


Centre levies IGST at four different situations.


IGST for movement from one state to another state of India

If goods and (or) services are moved from one state to another, IGST is levied on such goods and services. So mainly, IGST is charged on interstate supply of goods and services.


IGST for stock transfer of goods

The IGST is charged by centre for stock transfers of goods from one state to another. So, inter-state stock transfer of goods attracts IGST in the new GST tax regime.


IGST on import of goods to India

IGST is taxed up on import of goods and or (and) services, as imports to India attracts IGST by replacing CVD (Counter Vailing Duty) and SAD (Special Additional Duty).


IGST for export of goods under GST rebate claim

If GST rebate is under claim for any export of goods and (or) services, such exports also attracts IGST.



The above posts explain, when IGST is payable in India under GST Tax regime.


Comment below your suggestions about this article, Areas where IGST (Integrated Goods and Service Tax) collects?

 

 

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