What is Inter State supplies & IGST Mechanism?

1.	What is Inter State supplies & IGST Mechanism?
Answer» The Centre would levy and collect the Integrated Goods and Services Tax (IGST) on: All inter-State supply of goods and services in India. Inter-state stock transfers of goods. Import of goods / services. Export of goods / services. The IGST mechanism has been designed to ensure seamless flow of input tax credit from one State to another. The inter-State supplier would pay IGST on the supply of his goods and/ or services to the Central Government, which will be collected by the Central Government as IGST. The importing consumer (dealer/manufacturer) will claim credit of IGST while discharging his output tax liability (both CGST and SGST) in his own State. Centre will transfer to the importing State the credit of IGST used in payment of GST.

Answer»

The Centre would levy and collect the Integrated Goods and Services Tax (IGST) on:

All inter-State supply of goods and services in
India. Inter-state stock transfers of goods.
Import of goods / services.
Export of goods / services.

The IGST mechanism has been designed to ensure seamless flow of input tax credit from one State to another. The inter-State supplier would pay IGST on the supply of his goods and/ or services to the Central Government, which will be collected by the Central Government as IGST.

The importing consumer (dealer/manufacturer) will claim credit of IGST while discharging his output tax liability (both CGST and SGST) in his own State. Centre will transfer to the importing State the credit of IGST used in payment of GST.

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What is Inter State supplies &amp; IGST Mechanism?

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What is Inter State supplies & IGST Mechanism?