7 Points
Joined April 2023
IGST is a tax that is levied on the supply of goods and services that take place across state borders. It is a single tax that is charged on the total value of the goods or services, including the central and state components of the GST.
IGST is collected by the central government and is then distributed among the states based on the consumption of goods and services in each state. This ensures that the state where the goods or services are consumed receives the appropriate share of the tax revenue.
Exporting goods and services under the GST regime is a simple process. Businesses that export goods or services need to pay IGST at the time of export. The IGST paid can then be claimed as a refund by the exporter.
To read more about this, you can visit Exporting Goods & Services upon payment of IGST