https://www.taxtmi.com/news?id=16654 GST establishes a destination based consumption tax on the supply of goods and services, subsuming most central and state indirect taxes while excluding certain items initially; the constitutional amendment creates concurrent Centre/State jurisdiction with IGST for inter state supplies and a GST Council to set rates, apportionment and model laws. The model GST law prescribes place of supply rules, threshold based PAN registration, composition options, transaction value as tax base, and detailed ITC rules conditioned on invoice, receipt, supplier payment and return filing, with electronic GSTN based registration, returns, payments, refund and audit frameworks. en-us Mon, 26 Sep 2016 11:35:42 +0530 Wed, 11 Feb 2026 15:56:50 +0530 TaxTMI RSS Generator https://www.taxtmi.com/news?id=16654 GST establishes a destination based consumption tax on the supply of goods and services, subsuming most central and state indirect taxes while excluding certain items initially; the constitutional amendment creates concurrent Centre/State jurisdiction with IGST for inter state supplies and a GST Council to set rates, apportionment and model laws. The model GST law prescribes place of supply rules, threshold based PAN registration, composition options, transaction value as tax base, and detailed ITC rules conditioned on invoice, receipt, supplier payment and return filing, with electronic GSTN based registration, returns, payments, refund and audit frameworks. News - Mon, 26 Sep 2016 11:35:42 +0530 https://www.taxtmi.com/news?id=16654