Question

Discuss the different kinds of GST.

Answer 1

GST is of three kinds: CGST, SGST/UGST, and IGST.

1. CGST – Central Goods and Services Tax – imposed and collected by the Central Government on all supply of goods within a state (intra-state) under CGST Act 2017.

2. SGST – State Goods and Services Tax – imposed and collected by the State Governments under State GST Act. (Tamil Nadu GST Act 2017 passed by Tamil Nadu Govt.)

3. UGST – Union Territory Goods and Services Tax – imposed and collected by the five Union Territory Administrations in India under UGST Act 2017.

4. IGST – Inter-State Goods and Services Tax – imposed and collected by the Central Government and the revenue shared with States under IGST Act 2017.

5. IGST on exports – All exports are treated as Inter-State supply under GST. Since exports are zero-rated, GST is not imposed on all goods and services exported from India. Any input credit paid already on exports will be refunded.