GST stands for Goods and Services Tax, enforced by the Government of India. GST is an indirect tax that is levied on the sale of goods and services by the Union and State Governments. This tax system came into effect on July 1, 2017.
TAX HEADS UNDER GST:
| Name | Information |
| State Goods and Services Tax: | State Government collects this tax |
| Central Goods and Services Tax: | Central Government collects this tax |
| Union Territory Goods and Services Tax: | Union Territory Government collects this tax |
| Integrated Goods and Services Tax: | It is collected by the Central Government for inter-state transactions and imports. |
CONCLUSION:
FAQ: