https://www.taxtmi.com/article/detailed?id=123 GST is a destination based value added consumption tax intended to replace multiple central and state indirect levies by taxing goods and services at each point of sale or service with a credit mechanism to eliminate cascading. Implementation requires integration of central excise, service tax and state VATs into complementary central and state GST components, broadening the tax base, common rate treatment, availability of CENVAT credit on inputs and input services, abolition or phasing out of conflicting levies such as CST, and establishment of administrative and IT infrastructure for compliance and revenue sharing. en-us Tue, 29 Jul 2008 00:00:00 +0530 Wed, 04 Feb 2015 19:13:22 +0530 TaxTMI RSS Generator https://www.taxtmi.com/article/detailed?id=123 GST is a destination based value added consumption tax intended to replace multiple central and state indirect levies by taxing goods and services at each point of sale or service with a credit mechanism to eliminate cascading. Implementation requires integration of central excise, service tax and state VATs into complementary central and state GST components, broadening the tax base, common rate treatment, availability of CENVAT credit on inputs and input services, abolition or phasing out of conflicting levies such as CST, and establishment of administrative and IT infrastructure for compliance and revenue sharing. Articles Goods and Services Tax - GST Tue, 29 Jul 2008 00:00:00 +0530 https://www.taxtmi.com/article/detailed?id=123