Question

What are the components of GST?

Answer 1

Components of GST:
The component of GST is of 3 types. They are CGST, SGST & IGST.

1. CGST: Collected by the Central Government on an intrastate sale (e.g. Within state/ union territory)
2. SGST: Collected by the State Government on an intrastate sale {e.g. Within state/ union territory)
3. IGST: Collected by the Central Government for inter-state sale {e.g. Maharashtra to Tamil Nadu)