https://www.taxtmi.com/article/detailed?id=7349 The Council approved five draft rule sets on Registration, Payment, Returns, Invoicing/debit & credit notes, and Refunds, while tentatively approving but deferring finalisation of four crucial rule sets-Valuation of supply, Input tax credit, Transition provisions, and Composition scheme-to the next meeting. Those deferred rules are essential to carry forward existing input credits, govern migration from the pre GST fiscal position, and inform contractual and logistics decisions. Finalisation of these rules and approval of rate fitment are prerequisites for timely implementation and for states to enact corresponding SGST legislation and administrative arrangements. en-us Sat, 01 Apr 2017 18:58:56 +0530 Sat, 01 Apr 2017 18:58:56 +0530 TaxTMI RSS Generator https://www.taxtmi.com/article/detailed?id=7349 The Council approved five draft rule sets on Registration, Payment, Returns, Invoicing/debit & credit notes, and Refunds, while tentatively approving but deferring finalisation of four crucial rule sets-Valuation of supply, Input tax credit, Transition provisions, and Composition scheme-to the next meeting. Those deferred rules are essential to carry forward existing input credits, govern migration from the pre GST fiscal position, and inform contractual and logistics decisions. Finalisation of these rules and approval of rate fitment are prerequisites for timely implementation and for states to enact corresponding SGST legislation and administrative arrangements. Articles Goods and Services Tax - GST Sat, 01 Apr 2017 18:58:56 +0530 https://www.taxtmi.com/article/detailed?id=7349