https://www.taxtmi.com/article/detailed?id=402 GST is proposed as a comprehensive value added consumption tax replacing multiple central and state indirect levies, implemented with a cenvat credit mechanism to eliminate cascading. Key operative needs are clear determination of which taxes are subsumed, choice between unified or dual GST, centre state revenue sharing, and defined transitional provisions addressing input tax credit, ongoing contracts, and specific levies. Administrative preparedness, stakeholder consultation, and pilot testing of interstate credit mechanisms are prerequisites before implementation. en-us Sat, 27 Jun 2009 00:00:00 +0530 Wed, 04 Feb 2015 19:12:59 +0530 TaxTMI RSS Generator https://www.taxtmi.com/article/detailed?id=402 GST is proposed as a comprehensive value added consumption tax replacing multiple central and state indirect levies, implemented with a cenvat credit mechanism to eliminate cascading. Key operative needs are clear determination of which taxes are subsumed, choice between unified or dual GST, centre state revenue sharing, and defined transitional provisions addressing input tax credit, ongoing contracts, and specific levies. Administrative preparedness, stakeholder consultation, and pilot testing of interstate credit mechanisms are prerequisites before implementation. Articles Goods and Services Tax - GST Sat, 27 Jun 2009 00:00:00 +0530 https://www.taxtmi.com/article/detailed?id=402