Accounting cycles

General Accounting Principles

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When the goods are sold outside the state then which GST is levied

CGST & SGST

IGST

SGST & IGST

IGST & CGST

Explanation:

Inter-State supply of goods or services is when the location of the supplier and the place of supply are in different states. Also, in cases of export or import of goods or services or when the supply of goods or services is made to or by a SEZ unit, the transaction is assumed to be Inter-State. In an Inter-State transaction, a seller has to collect IGST from the buyer.

By: Munesh Kumari

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