The conversation between human and AI assistant.
In the GST bill, what is the meaning of SGST, IGST and CGST when there should be just one kind of tax to be levied?
That makes sense. But how does this affect the consumers?
When a consumer buys goods or services within the same state, they pay both CGST and SGST. But when the transaction happens between two different states, the consumer pays IGST instead. This helps to avoid double taxation and ensures that the revenue is distributed fairly among the states.