Types of GST Tax in India:
1. Integrated Goods and Services Tax or IGST
- The Integrated Goods and Services Tax or IGST is a tax under the GST regime applied on the interstate (between 2 states) supply of goods and/or services and on imports and exports.2. State Goods and Services Tax or SGST
2. State Goods and Services Tax or SGST
- The State Goods and Services Tax or SGST is a tax under the GST regime that is applicable on intrastate (within the same state) transactions. In the case of an intrastate supply of goods and/or services, both State GST and Central GST are levied.
3. Central Goods and Services Tax or CGST
- Just like State GST, the Central Goods and Services Tax of CGST is a tax under the GST regime that is applicable on intrastate (within the same state) transactions. The CGST is governed by the CGST Act. The revenue earned from CGST is collected by the Central Government.
4. Union Territory Goods and Services Tax or UTGST
- The Union Territory Goods and Services Tax or UTGST is the counterpart of State Goods and Services Tax (SGST) which is levied on the supply of goods and/or services in the Union Territories (UTs) of India.
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