Difference between CGST, SGST and IGST?
The GST tax laws have been divided into three parts :
- CSGT : Central Goods And Services Tax
- IGST : Integrated Goods And Services Tax
- SGST : State Goods And Services Tax
- CGST is collected by the Central Governments
- SGST is collected by the State Governments
- IGST is collected by Center on inter state transactions and later divided between Center and State Tax Revenue.
GST Tax laws remain same throughout the country. The Central Government used to take care of excise duty, service tax and custom duty. State takes care of VAT and Luxury tax. The functions remain the same but it all now falls under GST umbrella.