https://www.taxtmi.com/forum/issue?id=2413 The proposed Goods and Services Tax consolidates multiple state and central indirect taxes into a dual CGST/SGST value added system with broad input tax setoff. Supply of goods and services is the taxable event; taxpayers receive PAN based identification; tax is collected on value added and paid separately to central and state accounts. Input tax credit is generally restricted to the corresponding tax head, with an integrated GST proposed for interstate transactions; applicability is subject to turnover thresholds and specified exemptions. en-us Wed, 01 Dec 2010 19:00:25 +0530 Thu, 23 Jan 2025 15:58:29 +0530 TaxTMI RSS Generator https://www.taxtmi.com/forum/issue?id=2413 The proposed Goods and Services Tax consolidates multiple state and central indirect taxes into a dual CGST/SGST value added system with broad input tax setoff. Supply of goods and services is the taxable event; taxpayers receive PAN based identification; tax is collected on value added and paid separately to central and state accounts. Input tax credit is generally restricted to the corresponding tax head, with an integrated GST proposed for interstate transactions; applicability is subject to turnover thresholds and specified exemptions. Discussion-Forum GST Wed, 01 Dec 2010 19:00:25 +0530 https://www.taxtmi.com/forum/issue?id=2413