https://www.taxtmi.com/article/detailed?id=6943 The amended 122nd Amendment Bill removes the proposed additional tax on inter state supplies of goods, mandates Parliament to provide compensation to States for revenue loss from GST for up to five years, and requires the GST Council to establish a mechanism to adjudicate disputes arising from its recommendations. It also clarifies IGST apportionment and confirms that States' IGST shares do not form part of the Consolidated Fund of India, and provides for distribution of CGST and the Centre's share of IGST between Centre and States. en-us Fri, 19 Aug 2016 10:18:04 +0530 Fri, 19 Aug 2016 10:18:04 +0530 TaxTMI RSS Generator https://www.taxtmi.com/article/detailed?id=6943 The amended 122nd Amendment Bill removes the proposed additional tax on inter state supplies of goods, mandates Parliament to provide compensation to States for revenue loss from GST for up to five years, and requires the GST Council to establish a mechanism to adjudicate disputes arising from its recommendations. It also clarifies IGST apportionment and confirms that States' IGST shares do not form part of the Consolidated Fund of India, and provides for distribution of CGST and the Centre's share of IGST between Centre and States. Articles Goods and Services Tax - GST Fri, 19 Aug 2016 10:18:04 +0530 https://www.taxtmi.com/article/detailed?id=6943