https://www.taxtmi.com/article/detailed?id=6685 GST will subsume many overlapping levies for intangible goods and services, resolving dual VAT/service tax treatment by applying a single tax; electricity's inclusion is uncertain and crucial to allow input tax set offs after abolition of concessional inter state purchase rates; tourism, hospitality and restaurants may face higher revenue neutral rates though restaurants could be relieved of double taxation; major commodities-petroleum, alcoholic liquor and tobacco-are carved out or specially treated to preserve state revenues, raising questions on parallel VAT/CENVAT, excise coexistence, and input credit mechanisms. en-us Mon, 15 Feb 2016 01:10:10 +0530 Mon, 15 Feb 2016 01:10:10 +0530 TaxTMI RSS Generator https://www.taxtmi.com/article/detailed?id=6685 GST will subsume many overlapping levies for intangible goods and services, resolving dual VAT/service tax treatment by applying a single tax; electricity's inclusion is uncertain and crucial to allow input tax set offs after abolition of concessional inter state purchase rates; tourism, hospitality and restaurants may face higher revenue neutral rates though restaurants could be relieved of double taxation; major commodities-petroleum, alcoholic liquor and tobacco-are carved out or specially treated to preserve state revenues, raising questions on parallel VAT/CENVAT, excise coexistence, and input credit mechanisms. Articles Goods and Services Tax - GST Mon, 15 Feb 2016 01:10:10 +0530 https://www.taxtmi.com/article/detailed?id=6685