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of <h1>Central Government Empowered to Streamline Indirect Taxes Under Central GST Act 2017; Enhances Compliance and Reduces Barriers.</h1> The Central Goods and Services Tax Act, 2017, empowers the Central Government to create rules on various tax-related matters, including tax collection, input tax credit, registration, invoicing, and audits. The Act aims to consolidate multiple existing taxes into a single Goods and Services Tax (GST) applicable throughout the supply chain, enhancing tax compliance and reducing economic barriers. It establishes authorities for advance rulings and an appellate tribunal to address disputes. The legislation is designed to streamline the indirect tax system, reduce production costs, and improve competitiveness. The financial implications will be managed by the Central Government, using existing resources.
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