https://www.taxtmi.com/news?id=15109 The Department endorses a federated dual GST with separate CGST and SGST statutes, uniform core features, and an IGST mechanism for inter State supplies and imports where the Centre collects IGST and passes SGST to destination States. CGST and SGST credits must be maintained and utilised separately; cross utilisation is barred except under IGST rules. A common tax base, subsumption of central and state indirect taxes, harmonised procedures, simplified compliance for small taxpayers, constitutional amendments, IT infrastructure linkage and a compensation mechanism for transitional revenue effects are required for implementation. en-us Fri, 23 Oct 2015 09:56:26 +0530 Fri, 11 Dec 2015 17:46:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/news?id=15109 The Department endorses a federated dual GST with separate CGST and SGST statutes, uniform core features, and an IGST mechanism for inter State supplies and imports where the Centre collects IGST and passes SGST to destination States. CGST and SGST credits must be maintained and utilised separately; cross utilisation is barred except under IGST rules. A common tax base, subsumption of central and state indirect taxes, harmonised procedures, simplified compliance for small taxpayers, constitutional amendments, IT infrastructure linkage and a compensation mechanism for transitional revenue effects are required for implementation. News - Fri, 23 Oct 2015 09:56:26 +0530 https://www.taxtmi.com/news?id=15109