https://www.taxtmi.com/article/detailed?id=6331 Goods and Services Tax (GST) is proposed as a national value added consumption tax levied at each point of sale or service to replace multiple indirect levies, remove cascading taxes through input tax credit, and create a common domestic market. Successful implementation requires constitutional amendment to reallocate taxing powers, formation of a GST Council and dispute mechanism, political consensus between Centre and States, and strong administrative infrastructure including online payment and e filing to ensure a leakage proof, taxpayer friendly regime. en-us Mon, 06 Jul 2015 06:39:30 +0530 Mon, 06 Jul 2015 06:39:30 +0530 TaxTMI RSS Generator https://www.taxtmi.com/article/detailed?id=6331 Goods and Services Tax (GST) is proposed as a national value added consumption tax levied at each point of sale or service to replace multiple indirect levies, remove cascading taxes through input tax credit, and create a common domestic market. Successful implementation requires constitutional amendment to reallocate taxing powers, formation of a GST Council and dispute mechanism, political consensus between Centre and States, and strong administrative infrastructure including online payment and e filing to ensure a leakage proof, taxpayer friendly regime. Articles Goods and Services Tax - GST Mon, 06 Jul 2015 06:39:30 +0530 https://www.taxtmi.com/article/detailed?id=6331