What is the full form of CST?
The CST full form is Central Sales Tax. It is a sort of indirect tax that is imposed on interstate sales of products. CST is added by a seller in one state to products sold to a buyer in another state. CST is covered by the Central State Tax Act of 1956. The Act governs interstate commerce, the circumstances under which CST is applicable, sanctions and trade restrictions, etc. The Central Government of India levies CST, however, its applicability varies by state.
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CST is an indirect and origin-based tax, as it is governed by the state where the transaction originated and paid in the state where the goods is sold. It is strictly for interstate transactions. It does not refer to products sold within a state, manufactured, or exported products.
Exemptions from CST
In a few circumstances, CST is not applicable to the items listed below.
- If outbound freight is paid separately and outward, product coverage is transferred to the buyer at the time of shipment and is excluded.
- It is excluded if the goods are returned within 180 days.
- SEZs and overseas missions are exempt from CST.
Another CST full form is Central Standard Time. CST is six hours behind Coordinated Universal Time (UTC). Therefore, six hours must be subtracted from Universal Time to determine the local time in that region. CST is mostly found in the areas of North and Central America.
Several more names for CST may exist on the ground in various geographic places, some of which are given here.
- CT or Central Time
- NACST (North American Central Standard Time)
- In Spanish Tiempo Central Estandar (CST)
- In French HNC (Heure Normale du Centre)
