https://www.taxtmi.com/article/detailed?id=6478 The article explains a proposed dual GST empowering Centre and States to concurrently tax the supply of goods and services, subsuming most indirect taxes while excluding certain local levies and petroleum initially. It outlines States' concerns about revenue loss, uncertainty over the revenue neutral rate, and potential Centre dominance, and summarizes the Centre's view that a broader base, inclusion of services and an additional central levy will offset losses. A time limited compensation mechanism for State shortfalls during transition is described as a key measure to secure assent. en-us Mon, 12 Oct 2015 12:33:28 +0530 Mon, 12 Oct 2015 12:33:28 +0530 TaxTMI RSS Generator https://www.taxtmi.com/article/detailed?id=6478 The article explains a proposed dual GST empowering Centre and States to concurrently tax the supply of goods and services, subsuming most indirect taxes while excluding certain local levies and petroleum initially. It outlines States' concerns about revenue loss, uncertainty over the revenue neutral rate, and potential Centre dominance, and summarizes the Centre's view that a broader base, inclusion of services and an additional central levy will offset losses. A time limited compensation mechanism for State shortfalls during transition is described as a key measure to secure assent. Articles Goods and Services Tax - GST Mon, 12 Oct 2015 12:33:28 +0530 https://www.taxtmi.com/article/detailed?id=6478