Which of the following statement/s is/are correct about GST structure? 1. Central GST is collected by the Central Government on an inter-state sale. 2. State GST is collected by the state government on an intra-state sale. 3. Interstate GST is collected by the Central Government for an intra-state sale. Select the correct answer from below given codes: |ForumIAS

[A] Only one

[B] Only two

[C] Only three

[D] None

Answer: A

Notes:

Explanation: GST Structure:

Central GST (CGST): It is collected by the Central Government on an intra-state sale. Revenue is shared equally between the Centre and the State.
State GST (SGST): It is collected by the state government on an intra-state sale. Revenue is shared equally between the Centre and the State.
Interstate GST (IGST): It is collected by the Central Government for an inter-state sale. The Centre shares the IGST revenue with states based on the destination of goods.

Source: FORUMIAS