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of <h1>State Governments Agree to Union's GST Revenue Sharing Formula per Articles 269A and 270.</h1> The State Governments have accepted the Union Government's proposed formula for sharing Goods and Services Tax (GST) revenue. Under the GST system, both the Centre and States will levy GST on goods and services. The Central Goods and Services Tax (CGST) and State Goods and Services Tax (SGST) will apply to intra-state transactions, while the Integrated Goods and Services Tax (IGST) will apply to inter-state transactions. IGST revenue will be divided between the Centre and States according to Article 269A, based on GST Council recommendations. The CGST and the Centre's share of IGST will be distributed to States as per Article 270.
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