Accountancy, asked by Shreyas24771, 9 hours ago

What is GST and what are its types?

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Answered by warriorslegendary118

Answer:

Goods and Services Tax is an indirect tax used in India on the supply of goods and services. It is a comprehensive, multistage, destination-based tax: comprehensive because it has subsumed almost all the indirect taxes except a few state taxes.

CGST, SGST, IGST and UGST are the 4 types of GST in India. CGST and SGST are levied on intra-state transactions. CGST is collected by the centre and SGST by the state. IGST is charged on inter-state goods/services transactions.

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