What is GSTR-2B?

Types of GST and Slab of GST??

 

types & slabs

            Hi friends, the last topic we discuss is what is GST? How GST calculated any kind of goods or services. We also know that there are many types of indirect tax calculated on goods or services in India to remove all this indirect tax which is calculated on production, sales, or services government of India implement GST concept. That is why the government said that "One Nation One Tax."

            In this topic, we learn about types of GST and Slabs of GST. Here we discuss in detail how many types of GST and how many percentages of tax are calculated on any kind of goods and services.  

Types of GST

Types of GST
            There are four types of GST. Which is known as CGST, SGST, UTGST, and IGST.

1.) CGST (Central Goods & Services):

            Any type of transaction which is related to goods and services on which tax is calculated in this tax amount some of the percentages is collected by Central Government. Which is known as CGST.

2.) SGST (State Goods & Services):

            Any type of transaction which is related to goods and services on which tax is calculated in this tax amount some of the percentages is collected by State Government. Which is known as SGST.

3.) UTGST (Union Territories Goods & Services):

            Any type of transaction which is related to goods and services on which tax is calculated in this tax amount some of the percentages is collected by Union Territories Government. Which is known as UTGST.

4.) IGST (Integrated Goods & Services):

            Any type of transaction which is related to goods and services on which tax is calculated in this tax amount some of the percentages is collected by Other State Government. Which is known as IGST.

The slab of GST Percentage

            In GST there are many slabs, But mainly there are many products that have 0%, 5%, 12%, and 18% and 28%. Indian government discusses that on which product how many rate calculated of GST percentage.
            The government also dialer that the necessary product of life like Food, Grains, Gur, Milk, Unpacked Panir, etc. calculated only 0%  tax which is also said that "EXEMPT". 5% is calculated on Sugar, Tea, Coffee, Oil, Cola, etc. The government is calculated only a 5% tax rate. Some products like Butter, Ghee, Mobiles, Cashew, Almonds, etc. products have calculated a 12% tax rate. The government calculated an 18% of the tax rate on regular products like Hair oil, Soap, etc. The last thing is the 28% tax rate which is calculated on luxuries products like cars, motorbikes, etc. 

            As we know that different types of tax rate is calculated on the product. For example, If any product is manufactured in Gujarat and sold in Gujarat too and the production tax rate is 18% then tax on product is divided into equal percentages 9% tax is collected by CGST, and the remaining 9% is collected by SGST. 
            In another case, if the product is manufactured in Gujarat and the tax rate is 18% but sold in another state like Maharashtra or Chennai at that time tax is calculated in IGST, and IGST is totally collected by the central government of India,

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