Understanding the Types of GST in India
What is GST?
Goods and Services Tax (GST) is a single tax system in India that consolidates various indirect taxes.
Types of GST:
CGST: Collected by the central government on intra-state sales.
SGST: Levied by state governments on intra-state sales.
IGST: Applied to inter-state sales and imports, collected by the central government.
UTGST: Specific to Union Territories, applied alongside CGST.
Why It Matters:
Understanding the types of GST helps businesses comply with tax regulations and optimize their tax liability.
https://www.bajajfinserv.in/types-of-gst-in-india
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