https://www.taxtmi.com/article/detailed?id=595 A unified Goods and Services Tax proposes a dual CGST-SGST structure requiring constitutional amendment to subsume central and state levies, harmonize rates, and protect small traders through thresholds and compensation. Inter state supplies will be taxed under an Integrated GST (IGST) where the Centre levies IGST, allows adjustment of available IGST/CGST/SGST credits, and uses a central clearing mechanism to transfer credits to importing States. Administrative measures include PAN linked taxpayer identification, a composition scheme for small dealers, separate accounting for CGST and SGST, and a single periodic return submitted to both authorities. en-us Wed, 09 Dec 2009 00:00:00 +0530 Wed, 04 Feb 2015 19:09:56 +0530 TaxTMI RSS Generator https://www.taxtmi.com/article/detailed?id=595 A unified Goods and Services Tax proposes a dual CGST-SGST structure requiring constitutional amendment to subsume central and state levies, harmonize rates, and protect small traders through thresholds and compensation. Inter state supplies will be taxed under an Integrated GST (IGST) where the Centre levies IGST, allows adjustment of available IGST/CGST/SGST credits, and uses a central clearing mechanism to transfer credits to importing States. Administrative measures include PAN linked taxpayer identification, a composition scheme for small dealers, separate accounting for CGST and SGST, and a single periodic return submitted to both authorities. Articles Goods and Services Tax - GST Wed, 09 Dec 2009 00:00:00 +0530 https://www.taxtmi.com/article/detailed?id=595