The Earth has a surface area of 196,939,900 square miles. Areas covered by water is about (361,740,000 km), square miles equals about 71% of the total surface of the Earth. The Earth has a surface area of 196,939,900 square miles. Areas covered by water is about (361,740,000 km), square miles equals about 71% of the total surface of the Earth.
Now, if the dealer in Maharashtra had sold goods to a dealer in Gujarat worth Rs. 1,00,000. The GST rate is 18% comprising of CGST rate of 9% and SGST rate of 9%. In such case the dealer has to charge Rs. 18,000 as IGST. This IGST will go to the Centre.
The Indian Government is all set to bring in Goods and Services Tax (GST) in a few months from now. It is being deemed as the biggest tax reform in the country till now. GST will be levied at multiple rates ranging from 0 per cent to 28 per cent. GST Council has finalized a four-tier GST tax structure of 5%, 12%, 18% and 28%, with lower rates for essential items and the highest for luxury and de-merits goods that would also attract an additional cess.