https://www.taxtmi.com/article/detailed?id=6571 A dual destination based GST replaces multiple central and state indirect levies by imposing CGST and SGST on intra state supplies and IGST on inter state and imports. Uniform substantive rules govern chargeability, valuation and classification; time and place of supply rules determine liability; input tax credit allows set off subject to specified exclusions and utilisation hierarchy; exports are zero rated; valuation follows transaction value with fallback rules; registration, returns, refunds, audit and recovery procedures are prescribed; and a GST Council plus constitutional amendments allocate powers and apportion IGST. en-us Fri, 11 Dec 2015 08:16:37 +0530 Fri, 11 Dec 2015 08:16:37 +0530 TaxTMI RSS Generator https://www.taxtmi.com/article/detailed?id=6571 A dual destination based GST replaces multiple central and state indirect levies by imposing CGST and SGST on intra state supplies and IGST on inter state and imports. Uniform substantive rules govern chargeability, valuation and classification; time and place of supply rules determine liability; input tax credit allows set off subject to specified exclusions and utilisation hierarchy; exports are zero rated; valuation follows transaction value with fallback rules; registration, returns, refunds, audit and recovery procedures are prescribed; and a GST Council plus constitutional amendments allocate powers and apportion IGST. Articles Goods and Services Tax - GST Fri, 11 Dec 2015 08:16:37 +0530 https://www.taxtmi.com/article/detailed?id=6571