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The Government of India has introduced one of the biggest reforms in the indirect taxation system in India. Goods and Services Tax is a comprehensive tax regime wherein tax is levied on both supply of goods as well as services on the basis of where the goods or services on the basis of where the goods or services are finally supplied.
Dual GST : Both Centre and States will simultaneously levy GST across the value chain on the same base. Tax will be levied on every supply of goods and services.
CGST : Centre would levy and collect Central Goods and Services Tax (CGST) on intra state supply.
SGST : States would levy and collect the State Goods and Services Tax (SGST) on all transactions within a State.
IGST : The Centre would levy and collect the Integrated Goods and Services Tax (IGST) on all inter-State supply of goods and services and apportioned with the concerned state.