https://www.taxtmi.com/article/detailed?id=6937 Introduction of a nationwide Goods and Services Tax (GST) subsumes multiple central and state levies into a single tax on supply administered by parallel CGST, SGST and IGST structures, with a GST Council to recommend rates and dispute-resolution mechanisms and statutory provision for compensating States for revenue losses; the regime provides for input tax credits restricted by tax type (CGST v. SGST) and IGST set-off rules, aims to eliminate cascading taxes, relies on an IT-based compliance framework, and requires comprehensive preparatory steps to minimise transitional disputes. en-us Sat, 13 Aug 2016 11:08:57 +0530 Sat, 13 Aug 2016 11:08:57 +0530 TaxTMI RSS Generator https://www.taxtmi.com/article/detailed?id=6937 Introduction of a nationwide Goods and Services Tax (GST) subsumes multiple central and state levies into a single tax on supply administered by parallel CGST, SGST and IGST structures, with a GST Council to recommend rates and dispute-resolution mechanisms and statutory provision for compensating States for revenue losses; the regime provides for input tax credits restricted by tax type (CGST v. SGST) and IGST set-off rules, aims to eliminate cascading taxes, relies on an IT-based compliance framework, and requires comprehensive preparatory steps to minimise transitional disputes. Articles Goods and Services Tax - GST Sat, 13 Aug 2016 11:08:57 +0530 https://www.taxtmi.com/article/detailed?id=6937