https://www.taxtmi.com/news?id=13750 The Bill confers concurrent power on Parliament and State Legislatures to levy Goods and Services Tax, creates constitutional provisions-Article 246A, Article 269A and Article 279A-establishing the levy and apportionment rules for intra and inter State supplies and constituting a Goods and Services Tax Council to recommend rates, exemptions, place of supply principles and dispute resolution. It prescribes a dual GST structure (CGST and SGST) with IGST for inter State supplies, seamless input tax credit across States, subsumption of specified Central and State indirect taxes, a temporary additional inter state tax assigned to origin States, and compensation to States for revenue loss for a limited period. en-us Fri, 19 Dec 2014 18:14:01 +0530 Thu, 05 Feb 2015 11:57:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/news?id=13750 The Bill confers concurrent power on Parliament and State Legislatures to levy Goods and Services Tax, creates constitutional provisions-Article 246A, Article 269A and Article 279A-establishing the levy and apportionment rules for intra and inter State supplies and constituting a Goods and Services Tax Council to recommend rates, exemptions, place of supply principles and dispute resolution. It prescribes a dual GST structure (CGST and SGST) with IGST for inter State supplies, seamless input tax credit across States, subsumption of specified Central and State indirect taxes, a temporary additional inter state tax assigned to origin States, and compensation to States for revenue loss for a limited period. News - Fri, 19 Dec 2014 18:14:01 +0530 https://www.taxtmi.com/news?id=13750