ERP glossary · Accounts
What is Goods and Services Tax (GST)?
Definition
Goods and Services Tax is India's indirect tax on the supply of goods and services, charged at each step of the supply chain with credit for tax already paid.
It is split into CGST and SGST for sales within a state and IGST for sales between states.
Goods and Services Tax in IndustryX
IndustryX keeps GST on every invoice and bill, uses HSN codes for classification, and offers an e-invoice and e-way bill add-on.
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