IGST (Integrated GST)
Definition
GST levied on inter-state supplies and imports. IGST equals the full GST rate (e.g., 18% IGST vs 9% CGST + 9% SGST). The central government distributes the state portion to the destination state.
Related Terms in India GST
GSTIN
A 15-digit GST Identification Number assigned to every registered taxpayer in India. Format: 2 digits state code + 10 digits PAN + 1 digit entity number + 1 blank + 1 check digit. Must appear on all GST invoices.
GSTR-1
A monthly or quarterly return filed by registered dealers reporting all outward supplies (sales). Must be filed by the 11th of the following month. HelloBooks exports GSTR-1 data directly from your invoices.
GSTR-3B
A monthly self-declaration return summarizing outward supplies, input tax credit claimed, and net tax payable. Filed by the 20th of the following month. HelloBooks generates GSTR-3B summaries from your transaction data.
Input Tax Credit (ITC)
The GST paid on business purchases that can be offset against GST collected on sales. Reduces your net GST liability. ITC is only available if the supplier has filed their return and the invoice is valid.
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