Do you know what the full form of GST is? There are many taxes are there in India, which was implemented by the Government; but recently the Indian Government had launched a new system of Tax, which is actually the combination of all taxes, this tax is known as GST. Do you know what the full form of GST is? If you don’t know exactly about the full form of GST, then really this article will be going helpful to you. In this article, we will provide all the information related to the full form of GST.
As an Indian, we should know about some questions like what is GST, What is the full form of GST, What are the types of GST. Even as a student we must know about all information related to GST, as because most times competitive exams ask about such information related to GST. If we don’t know about GST, then it will be very rare thing for us as an Indian, as GST was introduced in India. In this article, we are trying to define every single information related to GST. Without wasting a time let’s begin the topic GST Full Form.

What is GST?
GST is a Federal Tax. Actually GST is an Indirect Tax, which are earn through Good and Services. The GST was started in Indian from July 1, 2017. GST is paid by the Consumers, but it is remitted to the Government by businesses selling goods and services.
In real sense, GST actually provides revenue to the government by many processes. Actually, GST is added to the products, and when the buyer or customer buy the product then he should pay GST along with selling price. After collecting the GST, it will be sent to Government Revenue part. In some countries, the GST is known as VAT (Value Added Tax).

GST full form – Full form of GST
The full form of GST is Goods and Service Tax. We are clearly seen than the full form of GST is made up of two different words, as Goods and Service. Here, Goods means the essential goods, which are we used in our daily life. Good is also called as Products. Products are those essential things through which we can live our life properly. Some of the examples of Goods are including crops, movable property, and other related thing which we generally used; along with this the land-related thing is also named as Goods. And here Good Tax means those taxes which are collecting from the essential goods as we mention above.
In other hand, Service Tax means Central Tax, State Tax or the Tax of supply of goods. After going too deeply about the GST or Good and Service Tax, let’s discuss the Tax system of India.
Actually, the government collects the taxes by the public and also spent it on the development of the public through many sectors.

In India, the tax is classified into two types; those are:
◦ Direct Tax
◦ Indirect Tax

Let’s discuss the both tax system of India briefly.

◦ Direct Tax:
Direct Tax is collected directly from the people through income tax, the government collect this type of tax from the common people directly from their income as income tax. In this case, high salary means a high amount of tax should be pay from them to the Government. If people will pay their tax regularly than it will be very helpful to others especially to the poor.

◦ Indirect Tax:
Indirect taxes are not directly collected from the people. This type of taxes are collected from all people of India, Even The government can get Indirect taxes from the poor. Generally, this type of taxes is added to the price of our daily usage items, such as Chocolates, Biscuits, Tea, and Coffee etc. Actually, the percentage of taxes is different in different categories.

What is the full form of GST?
The full form of GST is “Goods and Service Tax”. The term is actually new for Indians, as the term GST was implemented in the whole country from 1 July 2017.

Types of GST
There are many types of GST are there in India. Those types are discussed below:
◦ CGST: The full form of CGST is “Central Goods and Service Tax”. Actually, this types of GST is collected under the Central Government.
◦ SGST: The full meaning of SGST is “State Goods and Service Tax”. Actually, this type of GST is collected under the control of the State Government, as different states have different SGST.
◦ IGST: The full form of IGST is “Integrated Goods and Service Tax”. This type of tax is collected under both Central and State Government.
◦ UTGST: The full meaning of UTGST is “Union Territory Goods and Service Tax”. Actually, Union Territories are placed under special GST. UTGST is responsible for implementing uniform tax for all union territories in India.