https://www.taxtmi.com/news?id=17727 The proposed four bill GST package creates a dual Centre State indirect tax architecture while preserving current aggregate tax rates to avoid inflation. It substitutes central and state levies with a Central GST, an Integrated GST for inter state supplies, State GSTs and a Union Territory GST, and establishes a compensation cess on specified luxury and sin goods to fund temporary revenue compensation to States. Policy decisions and rate classification are to be taken by the GST Council on a consensus, federal model. en-us Wed, 29 Mar 2017 16:26:26 +0530 Wed, 29 Mar 2017 16:26:26 +0530 TaxTMI RSS Generator https://www.taxtmi.com/news?id=17727 The proposed four bill GST package creates a dual Centre State indirect tax architecture while preserving current aggregate tax rates to avoid inflation. It substitutes central and state levies with a Central GST, an Integrated GST for inter state supplies, State GSTs and a Union Territory GST, and establishes a compensation cess on specified luxury and sin goods to fund temporary revenue compensation to States. Policy decisions and rate classification are to be taken by the GST Council on a consensus, federal model. News - Wed, 29 Mar 2017 16:26:26 +0530 https://www.taxtmi.com/news?id=17727