Particle on gst

Dear Student
  • GST- GST is goods and services tax.
  • This is indirect tax.
  • Came in effect on 1st July 2017
  • This is destination-based tax that is levied on every value addition.

There are 3 taxes applicable under this system: 

  • CGST: Collected by the Central Government on an intra-state sale (Eg: transaction happening within Maharashtra)
  • SGST: Collected by the State Government on an intra-state sale (Eg: transaction happening within Maharashtra)
  • IGST: Collected by the Central Government for inter-state sale (Eg: Maharashtra to Tamil Nadu)

Regards
 

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