Q.What is GST? State its three components and when each is charged.

GST unified India's indirect taxes into one tax whose components depend on where the buyer is.

GST (Goods and Services Tax) is a single, comprehensive, destination-based indirect tax on the supply of goods and services in India. It came into force on 1 July 2017, replacing earlier taxes such as VAT, service tax, and excise duty, and it allows input tax credit across the supply chain.

Its three components and when each applies:

1. CGST (Central GST) — the Central Government's share, charged on an intra-state supply (buyer and seller in the same state).
2. SGST (State GST) — the State Government's share, charged on the same intra-state supply (called UTGST in a Union Territory). …

The three components are CGST, SGST, and IGST — not 'GST' as a fourth. Remember CGST+SGST go together (same s …