What is GST? Type , & Tax
What is GST? Goods and Service tax is an indirect tax levied on the supply of goods and services. This law has replace many indirect tax laws that previously existed in india. Type of GST The three type of GST in india are; Central Goods and Service Tax (CGST), State Goods and Services Tax (SGST), Union Territory goods and service tax (UTGST), and integrated goods and service tax(IGST). CGST & SGST :- Under GST, CGST is a tax levied on intra state supplies of booth goods and services by the central government and will be governed by the CGST act. SGST will also be levied on the same intra state supply but will be governed by the state government. IGST :- Under GST , IGST is a tax levied on all Inter-State supplies of goods and/or services and will be governed by the IGST Act. IGST will be applicable on any supply of goods and/or services in both cases of import into India and export from In...