The Goods and Service Tax in India is categorized into four subgroups:
CGST (Central Goods and Services Tax)
Intrastate or within-the-state transactions are subject to the CGST tax under India’s GST regime. The CGST Act controls the CGST. India’s Central Government is responsible for looking into the CGST income.
IGST (Integrated Goods and Services Tax)
The IGST is a GST tax imposed on the interstate supply of goods and services, imports & exports of goods. The IGST Act controls the IGST. India’s Central Government oversees tax collection under the IGST. The Central Government further divides the taxes among the corresponding states after collecting them.
SGST (State Goods and Services Tax)
Intrastate or within-the-state exchanges are subject to the SGST tax under the GST regime. State GST and Central GST are imposed in the event of an intrastate supply of goods and services. However, the state imposes the SGST on goods or services purchased or sold inside the state. The SGST Act controls it. The corresponding state government is the only one who may claim the SGST money.
UTGST (Union Territory Goods and Services Tax)
The State Products and Services Tax imposed on the trade of products and services in the Indian UTs is mirrored by the Union Territory Goods and Services Tax. In Chandigarh, Andaman and Nicobar Islands, Dadra & Nagar Haveli, Lakshadweep, and Daman Diu, products and services are subject to the UTGST. The UTGST Act controls the UTGST. The Union Territory governments oversee collecting the UTGST revenues. In Union Territories, the SGST is replaced by the UTGST. Consequently, the UTGST is also be imposed along with CGST in Union Territories.
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