Basis of Difference <\/strong><\/td> IGST<\/strong> <\/td> CGST <\/strong><\/td> SGST\/ UTGST <\/strong><\/td><\/tr> Who will Levy Taxes?<\/strong> <\/td>Central Government will levy IGST on Inter-state supplies<\/em><\/strong> of goods and services. <\/td>Central Government will levy CGST on Intra-state supplies<\/em><\/strong> of goods and services. <\/td>State or Union Territory Government will levy SGST or UTGST on Intra-state supplies<\/em><\/strong> of goods and services. <\/td><\/tr>Taxes that will be Replaced?<\/strong> <\/td>CST (Central Sales Tax) <\/td> Excise Duty, Service Tax, CVD (Countervailing Duty), SAD (Special Additional Duty), ADE (Additional Duties of Excise), etc. <\/td> VAT (Value Added Tax), Luxury Tax, Sales Tax, Entry Tax, Purchase Tax, Entertainment Tax, Octroi Duty, Taxes on Lottery, etc. <\/td><\/tr> Applicability<\/strong> <\/td>Inter-State Supplies and Import of Goods and Service. <\/td> Intra-State supplies of Goods and Services <\/td> Intra-State supplies of Goods and Services <\/td><\/tr> Input Tax Credit (ITC)<\/strong> <\/td>Against CGST, SGST, and IGST <\/td> Against CGST and IGST <\/td> Against SGST\/UTGST and IGST <\/td><\/tr> Sharing of Tax Revenue<\/strong> <\/td>Shared between the State and Central Government <\/td> Central Government <\/td> State\/ Union Territory Government <\/td><\/tr> Free Supplies<\/strong> <\/td>Applicable on Free Supplies <\/td> Applicable on Free Supplies <\/td> Applicable on Free Supplies <\/td><\/tr><\/tbody><\/table>\n\n\n\n<\/span>GST Tax Slabs<\/span><\/h2>\n\n\n\nIn India, there are 5 Tax Slabs<\/em><\/strong> prescribed\nunder GST Law. Those are 0%, 5%, 12%, 18%, and 28%.<\/em><\/strong> A summarized\nbifurcation between all the tax slabs is given below: <\/p>\n\n\n\nSlab Rates<\/strong> <\/td>Popular Goods<\/strong> <\/td>Popular Services<\/strong> <\/td><\/tr> 0% (Exempt)<\/strong><\/td>Bread, Salt, Rakhi without Precious Metal, Sanitary Napkins, Eggs, Sindoor, Bangles, Newspapers, Handlooms, etc. <\/td> Hotels or Lodges with a Charge up to Rs 1000, bank charges of saving account, etc <\/td><\/tr> \n 5%<\/strong>\n <\/td>Fertilizers, Frozen vegetables, Spices, Plastic waste <\/td> Takeaway Food, Newspaper printing, Restaurants <\/td><\/tr> 12%<\/strong> <\/td>Ghee, Nuts, Handbags, Fruits, Purses, Pouches, etc. <\/td> Building Construction for Sale, Temporary basis IP rights <\/td><\/tr> 18%<\/strong> <\/td>Camera, Washing Machine, Shampoo, etc. <\/td> IT services, Outdoor Catering, Telecom Services, etc. <\/td><\/tr> 28%<\/strong> <\/td>Pan Masala, Sunscreen, Motorcycles, etc. <\/td> Food\/Drinks\/Stay at AC Five Star Hotels, Cinemas, etc. <\/td><\/tr><\/tbody><\/table>\n\n\n\n<\/span>Eligibility Criteria for GST Online Registration<\/span><\/h2>\n\n\n\nThe Individuals or Business eligible to obtain GST Online Registration<\/em><\/strong> are as follows:<\/p>\n\n\n\nIndividuals or Businesses registered under VAT, Excise, and Service Tax<\/em><\/strong>;<\/li>Businesses having an Annual Turnover<\/em><\/strong> of more than Rs 40 lakhs<\/em><\/strong>;<\/li>Businesses having an Annual Turnover<\/em><\/strong> up to Rs 10 Lakhs<\/em><\/strong> in special states<\/em><\/strong>. The Special States denote Uttarakhand, Jammu and Kashmir, Himachal Pradesh, and the North-Eastern States;<\/li>Casual Taxable <\/em><\/strong>Person;<\/li>NRI<\/em><\/strong> (Non-Resident of India) person;<\/li>Agents<\/em><\/strong> of ISD (Input Service Distributor) and Suppliers;<\/li>One who is paying tax under the Reverse Charge Mechanism<\/em><\/strong>;<\/li>Individuals who supply through E-commerce Aggregator<\/em><\/strong>;<\/li>E-commerce Aggregator<\/em><\/strong>;<\/li>Individual dealing in Online Information<\/em><\/strong> and Database Access,<\/em><\/strong> or Retrieval Services<\/em><\/strong> from any place outside India<\/em><\/strong>. <\/li><\/ul>\n\n\n\n