Advertisements
Advertisements
Question
What are the components of GST?
Short Note
Solution
Components of GST:
The component of GST is of 3 types. They are CGST, SGST & IGST.
- CGST: Collected by the Central Government on an intrastate sale (e.g. Within state/ union territory)
- SGST: Collected by the State Government on an intrastate sale {e.g. Within state/ union territory)
- IGST: Collected by the Central Government for inter-state sale {e.g. Maharashtra to Tamil Nadu)
shaalaa.com
Tax Revenue
Is there an error in this question or solution?
APPEARS IN
RELATED QUESTIONS
The tax possesses the following characteristics ______.
Which of the following canons of taxation was not listed by Adam smith?
GST is an quivalence of ______.
The direct tax has the following merits except for ______.
Which of the following is a direct tax?
Which of the following is not a tax under the Union list?
Consider the following statements and identify the correct ones.
- The central government does not have exclusive power to impose a tax that is not mentioned in the state or concurrent list.
- The Constitution also provides for transferring certain tax revenues from union list to states
Differentiate tax and fee.
Give two examples for direct tax.
Describe canons of Taxation.
State any three characteristics of taxation.
Point out any three differences between direct tax and indirect tax.
Bring out the merits of indirect taxes over direct taxes.
