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Types of GST Filing

Different Types of GST: India currently recognizes four types of Goods service tax returns. These are: 1.CGST (Central Goods and Services Tax): When buying or selling things within one state, CGST is collected as an indirect tax by the central government in order to raise money for activities like infrastructure development and public services. 2.SGST (State Goods and Services Tax): When purchasing or selling something within your state, an SGST tax is collected by your government and used for local projects, schools and other purposes that benefit the entire population of that particular state. The money collected stays within its borders to fund local needs or state initiatives. 3.IGST (Integrated Goods and Services Tax): When buying something that originates in another state, IGST comes into effect to facilitate transactions smoothly across state boundaries and ensure a fair distribution of revenues among participating jurisdictions. 4.UTGST (Union Territory Goods and Services Tax): UTGST is applied only on sales occurring within Union Territories governed directly by the central government; thus enabling more consistent financial management and development across these regions.