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Question
Write the structure of GST.
Solution
Structure of GST
1. SGST (State Goods and Services Tax):
Levied Intra-state (or) within the state
Eg:
- VAT/sales tax, purchase tax
- Entertainment tax, luxury tax
- Lottery tax
- State surcharges and cesses.
Payable to State Government.
2. CGST (Central Goods and Service Tax):
Levied Intrastate (or) within the state.
Eg:
- Central Excise Duty, services tax
- Customs duty, surcharges
- Education and sec. Hr. sec. cess.
Payable to Central Government.
3. IGST (Integrated Goods and Services Tax)
Levied Inter-State (or) between States.
Payable to Central Government.
Four major GST rates are
5%, 12%, 18%, 28%
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