Evaluate inclusive or exclusive Goods and Services Tax alongside CGST and SGST division ratios.
The **Goods and Services Tax (GST)** is a unified, destination-based indirect tax system implemented in India on July 1, 2017. Replacing a maze of cascading indirect central and state taxes like Excise duty, Value Added Tax (VAT), Service Tax, Entry Tax, and Octroi, GST has streamlined taxation under a single umbrella. Under the GST model, tax is levied at every point of value addition, making it comprehensive and multi-stage.
To ensure balanced fiscal distribution between the Central and State Governments, GST is divided into three major categories:
• CGST (Central GST): Collected by the Central Government on an intra-state transaction (e.g., selling goods within Maharashtra).
• SGST (State GST): Collected by the State Government on an intra-state transaction. It is always equal to CGST.
• IGST (Integrated GST): Collected by the Central Government on an inter-state transaction (e.g., selling goods from Karnataka to Tamil Nadu) and distributed accordingly.
Our tool implements standard corporate tax formula algorithms: