Question
Consider the following statements regarding IGST:
Select the correct answer using the code given below:
- It is levied by the Centre on interstate supply of goods
- The IGST rate is equal to CGST plus the SGST/UTGST rate
- The tax revenue is shared equally among the Centre and the consuming State/UT
Select the correct answer using the code given below:
Answer: Option D
Answer: (d)
Integrated GST (IGST) is levied by the Centre on inter-state supply of goods and services and on imports and exports (on exports effectively there is no tax) of goods and services.
The IGST rate is equal to CGST and the SGST/UTGST rate. The tax revenue is shared equally among the Centre and the consuming State/UT.
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Answer: (d)
Integrated GST (IGST) is levied by the Centre on inter-state supply of goods and services and on imports and exports (on exports effectively there is no tax) of goods and services.
The IGST rate is equal to CGST and the SGST/UTGST rate. The tax revenue is shared equally among the Centre and the consuming State/UT.
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