Question
Download Solution PDFThe number of structures in India's GST model is:
Answer (Detailed Solution Below)
Detailed Solution
Download Solution PDFThe correct answer is 4
Key Points
- India's GST model comprises 4 structures.
- The four structures are: Central GST (CGST), State GST (SGST), Integrated GST (IGST), and Union Territory GST (UTGST).
- CGST is collected by the central government on an intra-state sale, i.e., within the same state.
- SGST is collected by the state government on an intra-state sale.
- IGST is collected by the central government for inter-state sales, i.e., between different states.
- UTGST is collected in Union Territories without a legislature.
- This model ensures a uniform and simplified tax structure across the country.
Additional Information
- The Goods and Services Tax (GST) was launched in India on 1st July 2017.
- GST is a comprehensive, multi-stage, destination-based tax that is levied on every value addition.
- It replaced a plethora of indirect taxes previously levied by the central and state governments.
- The primary objective of GST is to consolidate multiple taxes into a single tax, thus simplifying the tax system and reducing the tax burden on businesses.
- GST aims to create a single, unified Indian market to boost the economy and make Indian products more competitive in the international market.
Last updated on Jun 19, 2025
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