GST
SGST (State Goods and Services Tax)
State government's share of GST on intra-state supplies.
Full Definition
State Goods and Services Tax (SGST) is the state government's share of GST levied on intra-state supplies. It equals exactly half the applicable GST rate (e.g., 9% out of 18% total GST). SGST revenues go to the respective state government. Each state has its own SGST Act (uniform in structure, enacted by state assemblies). In Union Territories without legislature, it is UTGST instead.
More GST terms
GSTIN (Goods and Services Tax Identification Number)
Unique 15-digit registration number assigned to every GST-registered business.
GSTR-1
Monthly/quarterly return for outward supplies (sales) filed by GST-registered businesses.
GSTR-3B
Monthly summary return where GST liability is declared and payment made.
GSTR-9 (GST Annual Return)
Annual reconciliation return filed by regular GST taxpayers, summarising the full year's GST transactions.
ITC (Input Tax Credit)
Credit available to GST-registered businesses for GST paid on business purchases, which reduces their GST payable.