Question

the tax levied by central government for trading within a state is

Answer 1

Answer : $\bold{CGST}$


The tax levied by Central Government for trading within a state is "CGST"

Extra Information :-

GST :-

GST stands for Goods and Services Tax. Goods and Services Tax levied on the supply of goods and services.

GST is an indirect tax for the whole Nation. It is a single tax on the supply of goods and services right from the producer to the customer.

GST is categorised into CGST, SGST and IGST depending on whether the transaction is Inter state or Intra state.

CGST stands for Central Goods and Service Tax. This tax is levied on Intra state supply of goods and services.

The Tax which is levied on Goods and services by the Central Government within a state is "CGST".

SGST stands for State Goods and services tax. This tax is levied on Intra state supply of goods and services by the State Government.

IGST is stands for Integrated Goods and services tax. This tax is levied on all Inter state supply of goods and services.

The Tax which is levied on Goods and services by the Central Government within a state is "CGST". Hence, Option - B "CGST" is required answer.

Answer 2

After the introduction of GST, the SGST and CGST govern the trade within the state.

SGST stands for State Goods and Services Tax. This tax is governed by the state government on the goods and services which are traded within the state boundaries.

CGST stands for Central Goods and Services Tax. This tax is also important on the goods and services that are intra traded in the state but the difference is that this tax is imposed and regulated by the central government.

For any item or goods and services that are being traded within the state both the CGST and SGST will be applied but there is a condition implied that the the tax imposed cannot exceed above 14%.

SGST will be regulated by the SGST act and CGST will be regulated by the CGST act passed.