GST India Forum – Goods and Services Tax (GST) in India › Forums › Discussion › Difference between SGST, CGST and IGST?
- AmitParticipantDecember 24, 2016 at 4:34 PMPost count: 1Topics: 1
Been thanked: 0 times
What is the meaning of SGST, CGST and IGST when there should be just one kind of tax to be levied?CA Ashish BadalaModeratorDecember 24, 2016 at 4:50 PMPost count: 184Topics: 181
Been thanked: 5 times
All the indirect taxes will be replaced by a single tax i.e.GST
It will comprise of:-
The GST to be levied on intra-State supply of goods and / or services
by the Centre- Central GST (CGST)
by the States- State GST (SGST).
Similarly GST to be levied and administered on every inter-state supply of goods and services by Centre- Integrated GST (IGST).Adarsh MadrechaModeratorDecember 26, 2016 at 2:21 PMPost count: 57Topics: 36
Been thanked: 4 timesAlisha SharmaParticipantJune 15, 2017 at 4:49 PMPost count: 1Topics: 0
Been thanked: 1 time
Types of GST
Complete abbreviation of GST is Goods and Service Tax which is Single Tax Imposed by Government on citizens of India on Goods and Services.
Basically GST is classified into 3 types :->
CGST: CGST means Central Goods and Service Tax. The revenue collected under CGST is for Central Government not State ones
SGST: SGST means State Goods and Service Tax and the whole revenue is collected by State Government.
IGST: Integrated Goods and Service Tax. This type of tax is imposed when goods are transferred from one state to another state like Tamil Nadu to Uttar Pradesh. Revenue is distributed between central Govt. and State Govt.Sunil SmoParticipantJune 15, 2017 at 5:42 PMPost count: 13Topics: 0
Been thanked: 3 times
You must be logged in to reply to this topic.