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