Gst is a single tax on the supply of services & good. It will replace current state taxes, central taxes and duties. Under the GST structure, credits of input taxes paid at each level and subsequent stage of the value addition.

Taxes Replaced by GST as Under.

  • Central Excise Duty
  • Additional Excise duty (Goods of Special Importance)
  • Additional Customs Duty (Commonly known CVD)
  • Special Additional Duty of Customs (Commonly known SAD)
  • Service Tax
  • Excise Duty levied under Medicinal & Toilet Preparation
  • VAT/Sales Tax
  • Entertainment and Amusement Tax
  • Luxury Tax
  • Tax on Lottery/Betting/Gambling
  • Octroi
  • Purchase Tax

Gst structure in India has three categories.

  1. SGST – State Goods and Service Tax : is levied by local bodies on all transaction within a State.
  2. CGST – Central Goods and Service Tax: It is levied by Central Government.
  3. IGST – Integrated Goods and Service Tax: SGST+CGST=IGST, Supplies of goods or services from one State to another.


zero-rated supplies’

No tax pay on exports of goods or services. The Exporters exports goods or services under Letter of undertaking (LUT) without paying integrated tax(IGST) and unutilized input credit claim a refund.

The Exports of goods and services under the letter of undertaking or bond have certain procedure & rule to take LUT and export without payment of IGST.

‘payment of integrated tax’

The exports goods or services with payment of integrated tax.exportes have an option to either pay tax on the output and claim refund of IGST.

The Exports of goods and services with payment of IGST have certain procedure & rule to refund claim which paid at a time of exports.

Export Import Funda

About Export Import Funda

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