What is Integrated GST? Integrated GST or Integrated Goods and | All English Newspapers

What is Integrated GST?
Integrated GST or Integrated Goods and Services Tax is one of the four types of GSTs levied by the Central Government on interstate supply of goods and services. The revenue collected under IGST is apportioned equally between the Central and the State Governments (of the state where the goods/services are consumed).
Features of IGST
Some of the key features of IGST (Integrated Goods and Services Tax) are:
IGST is applicable when goods/service is transferred from one state to another.
The tax is collected by the Central Government from the party sending the goods/service.
The revenue collected as IGST is distributed equally between the Central Government and the government of the state to which the goods/service is supplied (the state of consumption of the goods/service).
The input tax credit from all four categories of GSTs can be claimed while paying IGST.