Types of GST , CGST, SGST, IGST, UTGST these four types of GST levied by registered association firm , company etc.

 We have further prescribed about GST now we are going to prescribe about types of GST .

•   IGST (Integrated goods and service tax)
•   CGST(Central goods and service tax)                                                                                            SGST(State goods and service tax)                                                                                       UTGST (Union territory Goods and service Tax)                                                                       During the tax levied first of all we ( registered person) consignee have to consider that where the supply of goods made ?                                                                       
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•           Supply of Goods may be intra state or, inter state.

inter state means : when consignee supply of goods or, service made with different place from where the firm situated, that is considered as an inter state supply. Also in case of export or, import of goods or, service or, when supply made by SEZ unit the transaction is assumed to be inter state , a seller has to collect IGST from buyer.

 .whereas Intra state means when consignee supply of goods or, service made with same place that is considered as an intra state supply in case of intra state a seller has to collect CGST and SGST from buyer. 

  

Now let's start to learn about three types of GST ( indirect tax).              1.  What is Integrated Goods and service Tax (IGST) ?      

Under GST , IGST is a tax levied on all inter-state supply of goods or, service. IGST will be applicable on any supply of goods or, service in both cases of Import in India and Export from India. IGST is goes to in the hands of central Government.

     2.  What is central Goods and service Tax (CGST) ?

Under GST, CGST is a tax levied on all intra-state supply of goods or, service. intra means within one state . CGST is also goes to in the hands of central Government.

     3.   What is state Goods and service Tax ( SGST) ?

Under GST,  SGST is also a tax levied on all  intra-state supply of goods and service . SGST is goes to in the hands of state Government. 

    4.    What is union territory Goods and service Tax ( UTGST) ?  

  

 Under GST that takes places in any of the the five territories of India including Chandigarh, Lakshadweep, Daman and Diu, Dadra and Nagar Haveli, Andaman and Nicobar Island   .    and the time of supply of goods in above five territories of India then tax levied with CGST+ UTGST  .                                                                                                                                                           learningtaxpoint.blogspot.com