UNDERSTANDING GST, IGST, CGST, SGST

GST is a comprehensive tax levied on the supply of goods and services.

IGST is levied on the inter-state supply of goods and services.

CGST is levied by the central government on intra-state supply of goods and services.

SGST is levied by the state government on intra-state supply of goods and services.

The difference between CGST and SGST is that CGST goes to the central government while SGST goes to the state government.

The calculation of GST involves adding the CGST and SGST or IGST, depending on the nature of the transaction.

GST has simplified the tax structure in India and has made it easier for businesses to comply with tax regulations.