How will the Inter-State supplies of Goods and Services be taxed under GST?

How will the Inter-State supplies of Goods and Services be taxed under GST? https://www.taxtmi.com/acts?id=24712 Inter-State supplies are subject to an Integrated Goods and Services Tax (IGST) collected by the Centre, charged on value addition after adjusting available credits of IGST, CGST and SGST. Exporting States transfer SGST credits used to pay IGST to the Centre, while importing dealers claim IGST credit against their output liability and the Centre transfers the IGST portion attributable to SGST to the importing State. A central clearing-house mechanism records transactions, verifies claims and instructs transfers of funds and credits among governments. en-us Mon, 03 Apr 2017 16:48:57 +0530 Mon, 03 Apr 2017 16:48:57 +0530 TaxTMI RSS Generator How will the Inter-State supplies of Goods and Services be taxed under GST? https://www.taxtmi.com/acts?id=24712 Inter-State supplies are subject to an Integrated Goods and Services Tax (IGST) collected by the Centre, charged on value addition after adjusting available credits of IGST, CGST and SGST. Exporting States transfer SGST credits used to pay IGST to the Centre, while importing dealers claim IGST credit against their output liability and the Centre transfers the IGST portion attributable to SGST to the importing State. A central clearing-house mechanism records transactions, verifies claims and instructs transfers of funds and credits among governments. Act-Rules Bills Mon, 03 Apr 2017 16:48:57 +0530 https://www.taxtmi.com/acts?id=24712