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GST Structure

Goods & Service Tax or GST will be levied on goods and services. It will replace all the various taxes and bring them under one umbrella to make compliance easier. It  will replace the following taxes:
 
(i) Taxes currently levied and collected by the Centre:
 
 Central Excise duty
 Additional Duties of Customs (commonly known as CVD)
 Special Additional Duty of Customs (SAD)
 Service Tax
 
(ii) Taxes currently levied and collected by the State:
 
State VAT
Central Sales Tax
Entertainment and Amusement Tax (except when levied by the local bodies)
 
3 taxes will be implemented to help tax-payers to take credit against each other thus ensuring “One nation one tax”.
 
The GST to be levied by the Centre on intra-State supply of goods and/or services is Central GST (CGST).
The GST to be levied by the States is State GST (SGST).
On inter-state supply of goods and services, Integrated GST (IGST) will be collected by Centre. IGST will also apply on imports.