https://www.taxtmi.com/news?id=17566 The 101st Constitution Amendment, Act, 2016 establishes the constitutional basis for implementing the Goods and Services Tax (GST), requiring separate Central and State GST statutes; proposed Central Bills include CGST, IGST and UTGST, while each State must enact its own SGST Bill. The policy objectives are to simplify taxation, reduce multiplicity and cascading of taxes, lower compliance costs, harmonise law and tariffs across jurisdictions, automate procedures, and check tax evasion to benefit trade and consumers. en-us Fri, 10 Mar 2017 16:32:43 +0530 Fri, 10 Mar 2017 16:32:43 +0530 TaxTMI RSS Generator https://www.taxtmi.com/news?id=17566 The 101st Constitution Amendment, Act, 2016 establishes the constitutional basis for implementing the Goods and Services Tax (GST), requiring separate Central and State GST statutes; proposed Central Bills include CGST, IGST and UTGST, while each State must enact its own SGST Bill. The policy objectives are to simplify taxation, reduce multiplicity and cascading of taxes, lower compliance costs, harmonise law and tariffs across jurisdictions, automate procedures, and check tax evasion to benefit trade and consumers. News - Fri, 10 Mar 2017 16:32:43 +0530 https://www.taxtmi.com/news?id=17566