This guide discusses all types of GST , differences between them, real life examples, characteristics, advantages and disadvantages, and the most recent changes that are important to businesses and consumers in 2020. What are Types of GST in India? There are four broad categories of GST in India: CGST - Central Goods and Services Tax Explore the types of GST in India, CGST, SGST, IGST, UTGST. Learn how GST is structured across intra-state and inter-state transactions with clear examples and categorization. CGST, SGST, IGST & UTGST are the 4 components or types of GST with a concept of one tax one nation. Read the details of CGST, SGST, IGST & UTGST. Input Tax Credit Under GST Input Tax is the GST charged on the goods or services supplied to a taxable person. Input Tax Credit means reducing or adjusting the taxes paid by an individual or firm on the inputs from the taxes to be paid by them on the output, i.e., the final product. In other words, it means to claim the credit of the GST paid by an individual or a firm on the purchase of goods or services used as a raw material for manufacturing the finished goods or services. The suppliers ...
