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GST Full Form and Meaning in Indian Languages

GST Meaning Explained

What is GST?

Full form of GST is Goods and services taxes. It is levied on the production, supply, transfer or leasing of goods and on rendering of services.  GST was first introduced in France in 1954, followed by- Russia in 1991 and China in 1994. In India GST law was implemented on 1st July 2017. It is considered to be a revolutionary step taken by the Indian government in the history of indirect tax reforms. GST subsumed 17 indirect taxes namely – VAT, Excise, Customs duty, Octroi, Luxury Tax, Entertainment Tax etc., which ultimately helped in removing the cascading effect of taxes.

GST is also termed as One Nation One Tax, which removed the barriers of inter-state transactions having a uniform tax structure across nation.  Our nation, India, has its own unique beauty of many states having it is own unique culture and language. Therefore, the word GST can be explained and written in various Indian languages. Let’s consider a few examples: GST in Hindi is written as वस्तु एवं सेवा कर, in Gujarathi as સામાન અને સેવાઓ કર, and Punjabi as ਗੁਡਸ ਐਂਡ ਸਰਵਿਸਿਜ਼ ਟੈਕਸ (Refer to the table below for translations of GST in other Indian languages)

 

Languages

 

GST Meaning Explained

English Goods and Services Tax
Arabic ضريبة السلع والخدمات
Hindi वस्तु एवं सेवा कर
Bengali পণ্য ও পরিষেবা কর
Gujarathi સામાન અને સેવાઓ કર
Kannada ಸರಕು ಮತ್ತು ಸೇವೆಗಳ ತೆರಿಗೆ
Punjabi ਗੁਡਸ ਐਂਡ ਸਰਵਿਸਿਜ਼ ਟੈਕਸ
Sindhi سامان ۽ خدمتون ٽيڪس
Tamil பொருட்கள் மற்றும் சேவைகள் வரி
Telugu వస్తువులు మరియు సేవల పన్ను
Urdu سامان اور خدمات ٹیکس
Malayalam വസ്തുക്കളും സേവന നികുതിയും
Nepali सामान र सेवा कर
Marathi वस्तू आणि सेवा कर

 

Tax Slabs in GST Bill

As, GST has replaced several taxes, the tax slabs vary.  The tax slabs under GST regime are- 0%, 5%, 12%, 18% and 28% levied as per the different categories of products.

Unlike other countries, there are different types of GST applied in India.  Like Canada, India has also adopted a Dual GST model that is CGST and SGST, where both central and state government would collect taxes on the transactions taking place within the state and on inter-state supplies central government would collect IGST.

For example, a supplier from Mumbai selling his goods and services within Maharashtra (termed as an Intra-state supply) would levy CGST and SGST on such transactions and if he is supplying it to any other state in India, IGST will be applicable.

The implementation of GST, with its many complexities and procedures can take your attention away from doing your business.  So, consult the GST experts at earlyGST at H&R Block India to take care of all your GST needs from registration to filing, so that you can focus your energy on growing your business.

Jyoti
Jyoti
Jyoti works as a Tax Advisor at H&R Block in Business Services team (GST Centre of Excellence). She has experience in handling the Enquiry Management System, client conversion and escalation. She enjoys writing and explaining complicated tax related topics in a simplified manner.

3 Comments

  1. Amruta says:

    Very useful

  2. HARSHIL DHANWANI says:

    Really appreciate your hard work.

  3. Somnath Dey says:

    I have newly Started working GST Works in a CA Firm. Can you give Me he Details of GST with GST Form Format?

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