FORMULA
CLASS - X Goods And Services Tax (GST) • GST is a comprehensive indirect tax for the whole nation. It is a value added tax. • Types of GST in India i) Central Goods and Services Tax (CGST) : For any intra-state supply (supply within the state) half of the GST collected as the output GST is deposited with the Central Government as CGST. ii) State GST (SGST) Union Territory GST (UGST/UTGST): For any local supply (Supply within the same state or Union Territory) half of the output GST is deposited with the respective state or UT Government as the beneficiary. This is known as SGST/UGST. iii) Integrated GST (IGST): The GST levied on the supply of goods of services in case of interstate trade within India or in case of exports/imports is known as IGST. The entire tax collected under IGST is paid to the account of the Central Government. However, as per the law, the Central Government distributed the IGST between the respective State Gover...