GST dictionary: Decoding terms used in the new indirect tax regime

Know what terms like anti-profiteering, CGST, SGST, IGST means in the new regime

Anti-profiteering:

Any benefit by way of reduction in rate of tax or increase in input tax credit arising due to introduction of GST shall be passed on to the customers (through reduction in sale price) by way of commensurate reduction in prices. 

Casual taxable person:

A person who occasionally supplies goods and/or services in a state where he has no fixed place of business. 

Central GST, State GST:

CGST is levied on intrastate supplies by the central government and SGST is levied on intrastate supplies by respective state governments. 

  

Composition dealer:

A dealer who has opted to