Goods and Service Tax is a new indirect taxation systems introducing in India from July 2017, It is levied on Sales, Manufacturing and consumption of goods and services across india.
It is a dual taxation system levied by both central and state and it includes.
CGST (Central GST) Levied by Central government.
SGST / UTGST (State / Union Territories GST) levied by State / Union Territories Government IGST (Integrated GST) Levied by Central government on interstate supply of goods or services
Many Taxes are subsumed in GST
Central Taxes like : Excise duties, Additional Excise duties , Additional Custom duty, special additional custom duty, Service Tax, Central surcharge and Cesses
State Taxes : VAT , Entry Tax, Purchase Tax, Octroi, Luxury tax, State Surcharge and Cesses
IGST - Can be adjusted against IGST then any proportion and any order against CGST or SGST
CGST - Can be adjusted against CGST and then IGST
SGST - Can be adjusted against SGST and then IGST