https://www.taxtmi.com/article/detailed?id=6801 A proposed Dual GST system imposes concurrent Central and State taxes on the same taxable supply, with CGST and SGST applied to intra state transactions and IGST, levied by the Centre, applied to inter state supplies. IGST functions to integrate CGST and SGST for cross border trade, allowing adjustment of input tax credits across IGST, CGST and SGST and requiring parliamentary apportionment of IGST receipts on GST Council recommendation. Model laws and administrative rules will govern implementation, and a limited multi rate structure with exemptions is proposed. en-us Thu, 28 Apr 2016 09:48:57 +0530 Thu, 28 Apr 2016 09:48:57 +0530 TaxTMI RSS Generator https://www.taxtmi.com/article/detailed?id=6801 A proposed Dual GST system imposes concurrent Central and State taxes on the same taxable supply, with CGST and SGST applied to intra state transactions and IGST, levied by the Centre, applied to inter state supplies. IGST functions to integrate CGST and SGST for cross border trade, allowing adjustment of input tax credits across IGST, CGST and SGST and requiring parliamentary apportionment of IGST receipts on GST Council recommendation. Model laws and administrative rules will govern implementation, and a limited multi rate structure with exemptions is proposed. Articles Goods and Services Tax - GST Thu, 28 Apr 2016 09:48:57 +0530 https://www.taxtmi.com/article/detailed?id=6801