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Difference-Chart-between-SGST-CGST-and-IGST

 

Difference Chart between SGST, CGST and IGST

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See the related post : GST credit on Capital Goods

Particulars

SGST

CGST

IGST

Meaning

SGST means State Goods & Service Tax

CGST means Central Goods & Service Tax

IGST means Integrated Goods & Service Tax

Applicability

Goods & Services transfers with in one State

Goods & Services transfers with in One State

Goods & Services transfers from one state to another state

Whether Registration required or not

Registration not required till the turnover crosses Rs. 20.00 lakhs (Rs. 10.00 lakhs for north east states)

Registration not required till the turnover crosses Rs. 20.00 lakhs (Rs. 10.00 lakhs for north east states)

Registration is compulsory

Collection of Taxes

State Government

Central Government

Central Government

To whom Tax benefit

Tax benefit to State Government

Tax benefit to Central Government

Tax benefit to Central Government & State Government proportionately

Input Tax Credit used

SGST Credit, first used to set off SGST payable, then adjusted with IGST Payable

CGST Credit, first used to set off CGST payable, then adjusted with IGST Payable

IGST Credit, first used to set off IGST payable, then adjusted with CGST Payable and then SGST payable

Composition Scheme

The dealer can opt composition scheme, whose aggregate turnover does not exceed Rs 1.5 crore threshold in a Financial Year. In case of Special category states, this limit is Rs 75 lakhs

The dealer can opt composition scheme, whose aggregate turnover does not exceed Rs 1.5 crore threshold in a Financial Year. In case of Special category states, this limit is Rs 75 lakh.

There is no option for composition scheme under Interstate sale

Difference to earlier taxes

SGST replaced the taxes like Local sales tax (VAT), Entertainment Tax, Luxury Tax, Surcharges & Cess etc.

CGST replaced the taxes like Central Excise Duty, Additional Excise Duty, SAD, Service Tax, Surcharges & Cess etc.

IGST replaced the taxes like Central Sales Tax (CST), Surcharges & Cess etc.




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