https://www.taxtmi.com/news?id=1041 GST is a value addition tax permitting continuous input tax credit from producer/service provider to retailer so the final consumer bears only the last stage tax. The architecture is a dual GST-CGST and SGST-levied concurrently on the same transaction value, with credits generally usable only within each component. Inter State supplies use an IGST model levied by the Centre to preserve cross State input tax credits and avoid tax blockage. Specific Central and State levies are proposed for subsumption, certain items remain outside GST, and constitutional amendment is required for implementation. en-us Tue, 10 Nov 2009 18:48:35 +0530 Thu, 05 Feb 2015 12:13:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/news?id=1041 GST is a value addition tax permitting continuous input tax credit from producer/service provider to retailer so the final consumer bears only the last stage tax. The architecture is a dual GST-CGST and SGST-levied concurrently on the same transaction value, with credits generally usable only within each component. Inter State supplies use an IGST model levied by the Centre to preserve cross State input tax credits and avoid tax blockage. Specific Central and State levies are proposed for subsumption, certain items remain outside GST, and constitutional amendment is required for implementation. News - Tue, 10 Nov 2009 18:48:35 +0530 https://www.taxtmi.com/news?id=1041