📢 Too many exams? Don’t know which one suits you best? Book Your Free Expert 👉 call Now!

    Question

    Which of the below import duties would be imposed?

    A CGST Correct Answer Incorrect Answer
    B SGST Correct Answer Incorrect Answer
    C IGST Correct Answer Incorrect Answer
    D CGST and SGST Correct Answer Incorrect Answer

    Solution

    CGST (Central Goods and Services Tax) and SGST (State Goods and Services Tax) are applicable to domestic supplies within a state in India. IGST (Integrated Goods and Services Tax) is imposed on import of goods and services into India and on inter-State supplies of goods and services. It is a combination of both CGST and SGST. IGST is collected by the Central Government for both inter-State supplies and imports.

    Practice Next
    More Accounts Questions

    Relevant for Exams:

    ask-question