https://www.taxtmi.com/news?id=17810 GST replaces multiple central and state indirect taxes with CGST, SGST, UTGST and IGST under concurrent taxing powers; IGST applies to inter state supplies and imports. The framework vests rate setting and policy decisions in the GST Council, provides PAN based registration, electronic returns and an IT platform (GSTN), conditions input tax credit on invoice reconciliation, prescribes separate ledgers and refund procedures, and establishes a compensation cess and transitional provisions for States. en-us Fri, 07 Apr 2017 12:06:45 +0530 Wed, 11 Feb 2026 15:56:58 +0530 TaxTMI RSS Generator https://www.taxtmi.com/news?id=17810 GST replaces multiple central and state indirect taxes with CGST, SGST, UTGST and IGST under concurrent taxing powers; IGST applies to inter state supplies and imports. The framework vests rate setting and policy decisions in the GST Council, provides PAN based registration, electronic returns and an IT platform (GSTN), conditions input tax credit on invoice reconciliation, prescribes separate ledgers and refund procedures, and establishes a compensation cess and transitional provisions for States. News - Fri, 07 Apr 2017 12:06:45 +0530 https://www.taxtmi.com/news?id=17810