https://www.taxtmi.com/news?id=106 Phasing out of the Central Sales Tax is effected through scheduled rate reductions and an intergovernmental compensation package combining abolition of Form D concessional purchases, enabling States to levy VAT on tobacco, and transfer of proceeds of tax on identified services to States; where these measures fall short, central budgetary support will be provided. The Taxation Laws (Amendment) Act, 2007 amends the CST Act and related law to implement the rate reduction, remove concessional inter State purchases by government departments, and enable State VAT on tobacco, with a dedicated budget provision for compensation in 2007 08. en-us Sat, 08 Sep 2007 14:16:00 +0530 Wed, 25 Jun 2008 17:14:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/news?id=106 Phasing out of the Central Sales Tax is effected through scheduled rate reductions and an intergovernmental compensation package combining abolition of Form D concessional purchases, enabling States to levy VAT on tobacco, and transfer of proceeds of tax on identified services to States; where these measures fall short, central budgetary support will be provided. The Taxation Laws (Amendment) Act, 2007 amends the CST Act and related law to implement the rate reduction, remove concessional inter State purchases by government departments, and enable State VAT on tobacco, with a dedicated budget provision for compensation in 2007 08. News - Sat, 08 Sep 2007 14:16:00 +0530 https://www.taxtmi.com/news?id=106