What is the full form of CST?
The full form of CST is Central Sales Tax. It is a form of indirect tax which is imposed on goods sold from one state to another. CST is put by one state’s seller on products sold to another state’s purchaser. The Central State Tax Act of 1956 covers CST. The Act decides Inter-state trade, the situations in which CST is applicable, sanctions and trade restrictions are outlined, etc. The Central Government of India charges CST, but its playability is state-specific.
CST is an indirect & origin-based tax since it is regulated by the state in which the transaction originates & payable in the state wherein the product is sold. It is for inter-state transactions only. It does not refer to products sold within a state and to products being manufactured or exported.
Exemptions from CST
In a few instances, CST is excluded from a few of that are listed below.
- If outward freight is paid separately & outward, product coverage is passed on to the purchaser during dispatch, and it is excluded.
- It is excluded if, within 180 days, the goods are returned.
- For SEZs & international missions, CST is exempted.
2) Another full form of CST is Central Standard Time. A time zone 6 hours behind the Coordinated Universal Time (GMT) is represented. So, you have to subtract six hours from Universal Time to find the standard time in that region. CST is found primarily in the North & Central American territories.
CST may have several additional names on the ground of different geographic locations, a few of that are listed below.
- CT or Central Time
- NACST (North American Central Standard Time)
- In Spanish Tiempo Central Estandar (CST)
- UTC -0600
- In French HNC (Heure Normale du Centre)