GST: One tax nationally:
GST has 3 tax components, which includes a central component (Central Goods and Services Tax or CGST) and a state component (State Goods and Services Tax or SGST) where centre and state levy GST on all entities, i.e. when a transaction happens within a state. Inter-state transactions attract the Integrated Goods and Services Tax (IGST), levied by the centre, i.e. when a transaction happens one state to another.