https://www.taxtmi.com/article/detailed?id=1432 The IGST model proposes levying an Integrated Goods and Services Tax on inter state supplies so tax incidence rests with the consuming state: sellers remit IGST after adjusting input credits, exporting states transfer SGST credit to the centre, and the centre transfers IGST credit to importing states. A central clearing agency would verify dealer wise electronic returns and instruct fund transfers. The model requires mandatory e filing, e payment, a national portal and strong IT infrastructure; absent these, a Modified Bank Model was recommended. Stock transfers should be taxed under IGST with destination credit to preserve the value chain. en-us Wed, 21 Sep 2011 10:21:56 +0530 Wed, 04 Feb 2015 19:03:45 +0530 TaxTMI RSS Generator https://www.taxtmi.com/article/detailed?id=1432 The IGST model proposes levying an Integrated Goods and Services Tax on inter state supplies so tax incidence rests with the consuming state: sellers remit IGST after adjusting input credits, exporting states transfer SGST credit to the centre, and the centre transfers IGST credit to importing states. A central clearing agency would verify dealer wise electronic returns and instruct fund transfers. The model requires mandatory e filing, e payment, a national portal and strong IT infrastructure; absent these, a Modified Bank Model was recommended. Stock transfers should be taxed under IGST with destination credit to preserve the value chain. Articles Goods and Services Tax - GST Wed, 21 Sep 2011 10:21:56 +0530 https://www.taxtmi.com/article/detailed?id=1432