Question

Q7. Answer in Brief:
1. Explain Types of Taxes under GST
​

Answer 1

CGST >•CGST stands for Central GST.

•this is applicable on supplies within the state.

•tax collected will be shared to centre.

SGST>•SGST stands for state GST.

•this is applicable on supplies within the state.

•tax collected will be shared to state.

IGST>•IGST stands for integrated GST.

•this is applicable on interstate and important transactions.

•tax collected is shared between centre and state.