Dual GST establishes concurrent central and state levies with IGST safeguarding input tax credit chains and harmonised rates. A Dual GST framework empowers Centre and States to levy GST concurrently on a common base while the Centre levies an Integrated GST (IGST) on inter State ... Summary
Dual GST establishes concurrent central and state levies with IGST safeguarding input tax credit chains and harmonised rates.
A Dual GST framework empowers Centre and States to levy GST concurrently on a common base while the Centre levies an Integrated GST (IGST) on inter State supplies to protect the input tax credit chain. The GST regime is supported by separate CGST, SGST/UTGST, IGST and Compensation statutes, a GST Council to recommend rates and exemptions, electronic administration via GSTN, specified threshold and composition options for small taxpayers, limited cross utilisation of ITC with a prescribed order of utilisation, and periodic settlement mechanisms between the Centre and States based on tax returns.
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