What is gst?? What many types it has??

Question

Accepted Answer

GST stands for Goods and Services Tax. It is a comprehensive indirect tax levied on the supply of goods and services.

GST is a value-added tax system implemented in many countries to replace multiple indirect taxes.
It aims to simplify the tax structure, eliminate cascading effects, and promote ease of doing business.
There are mainly four types of GST: CGST (Central Goods and Services Tax), SGST (State Goods and Services Tax), IGST (Integrated Goods and Services Tax), and UTGST (Union Territory Goods and Services Tax).
CGST and SGST are applicable for intra-state transactions, while IGST is applicable for inter-state transactions.
UTGST is applicable for transactions within Union Territories.
For example, if a product is sold within a state, CGST and SGST will be levied. If a product is sold from one state to another, IGST will be levied.

Accepted Answer

Accepted Answer

Gst-goods service tax, it is divided into 2 types

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