GST AND GST TABLES IN ORACLE APPS
What is GST ? Goods and service tax is an indirect tax throughout India to replace taxes levied by the central and state governments. when goods and service taxes implemented, there will be three kinds of applicable goods and services taxes. CGST Where the revenue will be collected by the central government. SGST Where the revenue will be collected by the state government for intra-state sales. IGST Where the revenue will be collected by the central government for intra-state sales. Below is the comparison between new and old taxes regime TRANSACTION NEW REGIME OLD REGIME COMMENTS Sale within state CGST+SGST VAT+central excise/service revenue will tax be shared