https://www.taxtmi.com/article/detailed?id=5169 Introduction of a national Goods and Services Tax envisages a phased, consensual redesign of indirect taxation featuring a negotiated compensation formula for Central Sales Tax shortfalls, optional state adoption, and a move from a single uniform rate toward a floor rate with a narrow band. The framework contemplates subsuming local levies, common exempted goods, inclusion of petroleum within GST, exclusion of alcohol, creation of an IT vehicle for GSTIN, composition and threshold schemes, and allocation of tax administration by turnover to limit dual control. en-us Mon, 24 Jun 2013 19:13:38 +0530 Wed, 04 Feb 2015 19:20:20 +0530 TaxTMI RSS Generator https://www.taxtmi.com/article/detailed?id=5169 Introduction of a national Goods and Services Tax envisages a phased, consensual redesign of indirect taxation featuring a negotiated compensation formula for Central Sales Tax shortfalls, optional state adoption, and a move from a single uniform rate toward a floor rate with a narrow band. The framework contemplates subsuming local levies, common exempted goods, inclusion of petroleum within GST, exclusion of alcohol, creation of an IT vehicle for GSTIN, composition and threshold schemes, and allocation of tax administration by turnover to limit dual control. Articles Goods and Services Tax - GST Mon, 24 Jun 2013 19:13:38 +0530 https://www.taxtmi.com/article/detailed?id=5169