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.

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