Section 5 IGST Act 2017 levies IGST on:
Answer & Solution
Correct answer: C.
1. Section 5 IGST Act 2017: LEVY and COLLECTION of IGST (INTEGRATED GST) on inter-State supplies of goods and services.
2. RATE: not exceeding 40%; current rates 0%, 5%, 12%, 18%, 28% (matching CGST + SGST combined).
3. EFFECTIVELY: IGST = CGST + SGST equivalents on inter-State supply;
4. Section 7 IGST Act defines INTER-STATE SUPPLIES.
5. Section 9 IGST Act: APPORTIONMENT — IGST collected by Centre is distributed between Centre (CGST share) and consumption State (SGST share).
6. Importation of goods: IGST levied along with Customs duty.
7. Hence option B is correct.
_Source: CS Executive Paper 4 Tax Laws (ICSI BoS) + Income Tax Act 1961 + CGST Act 2017 — IGST Act 2017, Section 5_
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