What are the Key Advantages and Limitations of GST in India?

Below are some of the prime benefits of GST and its implementation in India:

Following are some of the challenges posed by GST:

Below-mentioned are the four key types of GST in India:

• CGST – Central Goods and Services Tax or CGST is levied by the central government on the movement of goods and services within one state. The revenue generated from CGST is collected by the central government.
• SGST – State Goods and Services Tax or SGST is levied by the respective state government on the movement of goods and services within the state. The state government collects this tax and the revenue generated is used for the welfare and development of the state.
• UTGST – Union Territory Goods and Services Tax or UTGST, also referred to as UGST, is levied by the union government on the movement of goods/services within the respective union territory. This tax applies only to the union territories.
• IGST – Integrated Goods and Services Tax or IGST is levied on the movement of goods and/or services across the states (inter-state). The central government collects IGST and the revenue is distributed between the centre and state governments.