Central Sales Tax, CST
CST means Central Sales Tax.
This articles explains about Central Sales Tax; What is Central Sales Tax? How does CST work? Who has to pay Central Sales Tax, CST? Who are exempted to pay Sales Tax? When to pay Central Sales Tax?
CST is one of the two components of VAT, Value Added Tax. CST is imposed when sale of goods from one state to another state. CST is levied when the goods are transferred or at the time of generating invoice whichever is earlier. For example, if sale of goods is moved from Mumbai to Bangalore, CST is levied.
The revenue collected as Value Added Tax VAT is meant for central government.
Exemptions to collect CST
The exempted goods are not charged CST. Government fixes turn over for small business of firm time to time and any business turn over falls under such category, CST amount need not to be paid. Exports are totally exempted to pay Central Sales Tax, CST, if paid at any point of movement of goods can be claimed for reimbursement.
The above information provides about Central Sales Tax; What is Central Sales Tax? How does CST work? Who has to pay Central Sales Tax, CST? Who are exempted to pay Sales Tax? When to pay Central Sales Tax?
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