Central Goods and Service Tax

Central GST

Basis of Distinction

Central GST

Meaning

It is levied by Central government to replace the existing tax like service tax, excise, etc

Applicability

It is applicable only within the state

Input Tax Credit

The credit of CGST, is available only against CGST and IGST

Collection of tax

It is collected by central government

Exemption limit

The exemption limit of Rs.20 Lakh is applicable

Composition Scheme

The dealer, can use the benefit of composition scheme up to turnover of 50 lakh.

Free Supplies

Applicable on free supplies

Registration

No registration till the turnover crosses 20 Lakh (10 Lakh in north eastern states).





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