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of <h1>New GST Model Proposes Dual Structure with Central and State Levies; Input Tax Credit Limited to Each GST Type</h1> The proposed GST model introduces a dual structure consistent with the federal system, comprising Central GST levied by the Centre and State GST by the States, implemented through separate statutes. Key features include uniformity in chargeability, taxable events, and valuation provisions across statutes, with exceptions for exempted goods and services. Taxes are paid separately to the Centre and States, with input tax credit allowed only within each GST type. Cross-utilization of credits between Central and State GSTs is generally prohibited. Uniform procedures for tax collection and administration are outlined, with taxpayers required to submit returns to both authorities and assigned a PAN-linked identification number.
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