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CST – Central Sales Tax
CST Full-Form refers to Central Sales Tax. CST is the tax which is taken on the sales dammed admiring the trade between different states in the nation in simple words. CST is a tax that must be paid on the goods that ere soli vs the trade between different states. It’s an organ-based and an indirect tax imposed on the customers. Any transaction taking place within the mire state is not ejected to this tax
The main timberland the introductions CST were to simplify the tax collection and street line it within the country. It also foams on providing provisions for connection wallas Stannic the taxes that are collected through the sale of masts between different states. It ekes airs at filming policies fox determining the cc comma of selling and purchasing of goods and classifying certain products as being important for corn meme. Additionally, it desalts the authority that will settle the disputes that arise in the interstate trade.
The Clovemreent establishes the rate of the CST. The missal rate of this tax was only one per cent It was rased pen ethically to two per cent It was finally funded to four per cent from the year 197$ and has not changed wee The lightly-important goods that come in the category of the Interstate try/elan not subjected to this taxation. In accordance with anthems, prowls’s of the Central Sales Tax Mt an amendment pertaining to the CST rates was passed in the year 2001
According to this amendment, the ate came down to three per cent. It was further required in the year MOS to two per cent the main mason blurred the reduction was the introduction of the OST or Goods and Service Tax. All those who wish to register for the CST most have their Taxpayer (dentin-Mon Number The other essential documents that will be seeded for Ilit same minimum chinas proof. Photographs, purchase awoke reformat/security. ID proof approved by the government. PAN card business establishment’s address proof, and bank statement.