What is SGST, CGST & IGST

                      What is SGST, CGST & IGST?

Goods & Service Tax or GST will be levied on goods and services. It will replace all the various taxes and bring them under one umbrella to make compliance easier. It will replace the following taxes.

(i) Taxes currently Centre:

1.  Central Excise duty
2.  Additional Duties of Customs (commonly known as CVD)
3.  Special Additional Duty of Customs (SAD)
4.  Service Tax

 (ii) Taxes currently State:

1. State VAT
2. Central Sales Tax
3. Entertainment and Amusement Tax (except when levied by the local bodies)
4. Taxes on lotteries, betting and gambling

                                 


 

Sachin Kr. Mishra