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Does CGST differ from SGST?
Is the tax calculated separately? How?
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Answers
Answered by
2
Step-by-step explanation:
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■ CGST is collected by Central government whereas SGST is collected by State government
■ Apart from that , there is no difference in performing their calculations.
■ Suppose a tax was sold at GST% =x%
so, SGST will be calculated as x/2%
Similarly CGST will also be calculated as x/2%
And then, both are added along with the Marked price to get the Selling price
■ So, we conclude that they have the same value .
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Answered by
3
Answer:
- SGST, IGST, and UTGST? CGST means Central goods and service tax that replace the existing tax like service tax, excise tax etc. SGST means the state goods and service tax, replaces the existing tax like sales tax, entry tax, luxury tax etc.
- You can combine your deductions, and you pay your taxes jointly. ... When you file separately, it means each of you adds up your income, and you pay your taxes separately. You have to divide up your deductions — both of you can't use the same expenses to calculate the amount of your separate deductions.
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