Introduction:
The GST Act came in force from 1st July, 2017. There were many interpretation issues with respect to the definitions, glossary and terms use in the law. Since, such definitions were adopted from various legacy laws in India prior to GST; such as Service Tax, State VAT, Central Excise Act, Luxury Tax, Entertainment Tax, etc. it was difficult to make applicable one definition for different sectors. Hence, some modifications from existing definitions were made. Therefore, it was important to established a nexus of the terms used in the GST definitions. The definition discussed here is“Integrated Goods and Services Tax Act”.
So what do you mean by “Integrated Goods and Services Tax Act”?
Section 2(57) of CGST Act, 2017 – “Integrated Goods and Services Tax Act” means the Integrated Goods and Services Tax Act, 2017;
Conclusion:
Integrated Goods and Services Tax Act (IGST) is a tax levied on all Inter-State supplies of goods and/ or Services and will be governed by the IGST Act. IGST will be applicable on any supply of goods and/ or services in both cases of import into India and export from India.