Types of GST in India

Types of GST in India

The Goods and Service Tax is meant to be a unified indirect tax across the country on products and services. In the current system, the tax is levied at each stage separately by the Union government and the States at varying rates, on the full value of the goods. But under the GST system, the tax will be levied only on the value added at each stage. It is a single tax (collected at multiple points) with a full set-off for taxes paid earlier in the value chain.

In India, there are three types of GST: CGST, SGST, IGST

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