Accountancy, asked by prasunkashyap93, 6 months ago

Which GST account will be used in inter-state transactions?​

Answers

Answered by kartiksharma0711
6

Answer:

Revenue from IGST will be apportioned among Union and States by Parliament on basis of recommendation of Goods and Service Tax Council [Proposed Article 269A(2) and Article 270 (1A) of Constitution of India]. The apportionment will be required as input tax credit of IGST can be used for SGST and vice versa.

Answered by ItzMissKomal
1

Answer:

  • In the case of inter-state transactions, GST is collected as IGST, which indirectly charges tax for the State and Central government clubbed together. SGST and CGST are collected in case of intrastate transactions and are both collected directly for the State and Central Government, respectively
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