CGST
Central GST
Levied by the Central Government towards a sale occurring within the state
(Eg: Within theStates of India)
Take a look about GST
GST stands for Goods and Services Tax. GST is imposed on value added goods and services that are sold for domestic consumption. GST has replaced many indirect taxes in our nation. It was enforced on 29th March, 2017 and came into effect on 1st July 2017.GST is paid by the consumers but is remitted (to the government) by the enterprises selling goods and service. GST generates revenue for the government.
GST is the multi-stage, comprehensive, destination-based tax that is imposed on every value addition.Simply put, GST is an indirect tax imposed on the goods and services. GST has replaced many indirect taxes.
GST = one indirect tax for the entire nation.
Example: Let us consider the example of a biscuit manufacturer for understanding “What is GST?”The biscuit manufacturer buys flour, sugar and other ingredients. He makes biscuits from it and thus adds value to it. Then it goes to the warehouse where it is labeled. There is value addition here too! Finally, the retailer packs these biscuits in small packets and does some marketing for the same. GST will be imposed on these value additions. The monetary worth increased at each stage will be taxed and levied on the buyer of the end product.
