https://www.taxtmi.com/news?id=1191 The Centre advances a GST framework requiring uniform treatment under CGST and SGST by setting identical exemption and compounding thresholds, aligning exempt lists, and adopting IT-driven simplification via an empowered group to implement a national GST system. It proposes phased, coordinated central and state rate arrangements-beginning with a dual-rate structure at introduction and convergence to a single rate over time-while committing to compensate States for revenue losses from tax subsumptions under mutually agreed formulas and to support State computerisation for GST implementation. en-us Thu, 22 Jul 2010 17:56:32 +0530 Thu, 05 Feb 2015 12:03:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/news?id=1191 The Centre advances a GST framework requiring uniform treatment under CGST and SGST by setting identical exemption and compounding thresholds, aligning exempt lists, and adopting IT-driven simplification via an empowered group to implement a national GST system. It proposes phased, coordinated central and state rate arrangements-beginning with a dual-rate structure at introduction and convergence to a single rate over time-while committing to compensate States for revenue losses from tax subsumptions under mutually agreed formulas and to support State computerisation for GST implementation. News - Thu, 22 Jul 2010 17:56:32 +0530 https://www.taxtmi.com/news?id=1191