Duplicate name issue with SGST while Creating sister/child companies

I have discovered ERPnext recently and am evaluating it for implementing it to a few clients.

We have a requirement to setup multiple child companies/franchisees under a parent company.
When i try to create a new company, it is showing this error:

Account Output Tax SGST - CC already exists

I have setup one company during installation, the chart of accounts is created and entire setup seems to be working well, although I haven’t done major accounting operations.

The CC was a child company test i created, and it is showing this issue. I tried changing abbr to various other things, the issue still persists. What could be causing the issue?