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of <h1>Understanding CGST and SGST: Simultaneous Taxation on Goods and Services with Non-Transferable Tax Credits</h1> Central GST (CGST) and State GST (SGST) are levied simultaneously on each transaction involving the supply of goods and services, except for exempted items, those outside GST's scope, and transactions below threshold limits. Both taxes are applied to the same value, unlike State VAT, which includes CENVAT. CGST applies nationwide, while SGST is limited to transactions within a state. Tax credits for CGST and SGST are non-transferable between the two, meaning CGST credits can only offset CGST liabilities, and SGST credits can only offset SGST liabilities. Examples illustrate this process for goods and services transactions within a state.
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