https://www.taxtmi.com/article/detailed?id=6264 GST is a destination-based, value-addition tax intended to subsume numerous central and state levies into a dual CGST/SGST model with IGST for inter-state supplies; it prescribes cross-utilisation rules for input tax credits, rate categories for necessities and industrial goods, a constitutional amendment and GST Council for governance, transitional and compensation arrangements including a temporary 1% inter-state levy and staged state revenue compensation, and operational measures on registration, invoicing, returns, refunds and exemptions to reduce cascading taxes and transaction costs. en-us Mon, 18 May 2015 18:36:27 +0530 Wed, 11 Feb 2026 15:56:38 +0530 TaxTMI RSS Generator https://www.taxtmi.com/article/detailed?id=6264 GST is a destination-based, value-addition tax intended to subsume numerous central and state levies into a dual CGST/SGST model with IGST for inter-state supplies; it prescribes cross-utilisation rules for input tax credits, rate categories for necessities and industrial goods, a constitutional amendment and GST Council for governance, transitional and compensation arrangements including a temporary 1% inter-state levy and staged state revenue compensation, and operational measures on registration, invoicing, returns, refunds and exemptions to reduce cascading taxes and transaction costs. Articles Goods and Services Tax - GST Mon, 18 May 2015 18:36:27 +0530 https://www.taxtmi.com/article/detailed?id=6264