Types of GST in India
- Blog|GST & Customs|
- 2 Min Read
- By Taxmann
- |
- Last Updated on 7 June, 2021
Latest from Taxmann
There would be three different types of levies in GST:
-
- CGST ( Central Goods and Services Tax )
- SGST ( State Goods and Services Tax )
- UTGST ( Union Territory Goods and Services Tax )
- IGST ( Integrated Goods and Services Tax )
SGST would be leviable along with CGST on the supply made by a registered person within a State.
Just as SGST is leviable along with CGST on the supply made by a registered person within a State, UTGST would be levied along with CGST on the supply made by a registered person within a Union Territory.
However, in no case, both SGST and UTGST would be leviable on an invoice of supply of goods or services or both. It would either be SGST or UTGST along with CGST would be leviable on the invoice.
IGST would be leviable on Import or Inter-State supply of goods or services or both. IGST would be equivalent to sum total of CGST and SGST/UTGST.
You can also read: What is GST in India?
What are the major taxes being presently leived in the supply chain of goods and services by the state/Central government?
Following are the major taxes being levied in the supply chain of goods by the State/Central Government:
|
S.No. |
Taxes |
Taxable Event |
Nature of Tax |
|
1. |
State VAT |
Sale of Goods within the State |
State Tax
|
|
2. |
Excise Duty |
Manufacturing of Goods |
Central Tax |
|
3. |
Central Sales tax |
Sale of Goods between two States |
State Tax
|
|
4. |
Additional Customs Duty |
Import of Goods |
Central Tax
|
|
5. |
Special Additional Duty |
Import of Goods |
Central Tax |
|
6. |
Entry Tax |
Entry of Goods into Local Area |
State Tax |
Following are the major taxes being levied in the supply chain of services by State/Central Government:
|
S.No. |
Taxes |
Taxable Event |
Nature of Tax |
|
1. |
Service Tax |
Provision of Service |
Central Tax |
|
2. |
Entertainment Tax |
Provision of Entertainment |
State Tax |
|
3. |
Luxury Tax |
Provision of Luxury |
State Tax |
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