What is GST (Goods and Services Tax in India) ?

  • Goods and services tax (GST) is an indirect tax levied in India on the supply of goods and services.
  • Three types of GST in India
      1. Central GST (CGST)
      2. State GST (SGST)
      3. Integrated GST (IGST)
  •  Central GST (CGST) and State GST (SGST) for intrastate transactions and IGST (Integrated GST) for interstate transactions.
  • GST is divided into five tax slab  0%, 5%, 12%,18% and 28%

 

Reference: Wikipedia