What are the types of GST?

Goods and Services Tax, GST is an indirect tax for the entire nation. There are four different types of GST as listed below:

• The Central Goods and Services Tax (CGST): Levied by the State Government of every state, SGST replaces every kind of existing state tax that include Sales Tax, Entertainment Tax, VAT, Entry Tax, etc.
• The State Goods and Services Tax (SGST): It is the Central Tax levied on transactions of goods and services which take place within a state.
• The Union Territory Goods and Services Tax (UTGST): Levied when the movement of products and services occur from one state to another.
• The Integrated Goods and Services Tax (IGST): Applicable on the Intra UT supply of goods and services, the aim to impose UTGST is to apply a collection of the tax to provide benefits as same as SGST.

Further Reading:

• Goods and Services Tax Council
• Goods & Services Tax (GST) – One Nation One Tax