Cryptocurrency Q&A
Where does the GST money go in India?
Where does the GST money go in India?
SamuraiCourageous
Fri Nov 29 2024
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7 answers
1533
I want to understand the distribution and utilization of Goods and Services Tax (GST) revenue in India. Specifically, where does this money go after being collected by the government?
7 answers
CryptoWizard
Sun Dec 01 2024
When a product is sold for ₹1,000 with an 18% GST rate, the total GST amount amounts to ₹181.
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PulseEclipse
Sun Dec 01 2024
This total GST amount is then divided equally between CGST and SGST.
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CosmicDreamWhisper
Sun Dec 01 2024
Each component, CGST and SGST, will receive ₹91.
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CryptoAce
Sun Dec 01 2024
The GST Council holds the authority to determine the rates for CGST and SGST.
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NebulaNavigator
Sun Dec 01 2024
The seller collects the total amount, which includes the GST, from the buyer.
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