Understanding GST Rates in India
Goods and Services Tax (GST) in India is structured into multiple rates to accommodate various goods and services. This guide provides a detailed understanding of these GST rates and their implications.
What is GST
GST is a comprehensive, multi-stage, destination-based tax that is levied on every value addition. It has replaced many indirect taxes in India such as the excise duty, VAT, services tax, etc. GST is categorized into three types:
- CGST: Central Goods and Services Tax, collected by the Central Government on intra-state sales.
- SGST: State Goods and Services Tax, collected by the State Government on intra-state sales.
- IGST: Integrated Goods and Services Tax, collected by the Central Government on inter-state sales.
GST Rates Structure
India
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