https://www.taxtmi.com/news?id=17936 GST is expected not to generate inflation because it consolidates existing multiple-point taxation rather than replacing a single-point tax; IGST on imports operates as an interim washout tax with credit at sale, aligning tax incidence between imported and locally manufactured goods. Administrative measures include GSTN migration, awareness camps, and sector guidance; small businesses may be exempt up to a turnover threshold or opt into a composition scheme with simplified quarterly returns. The IGST tourist refund provision remains in the Act but will not be operational at rollout. en-us Tue, 25 Apr 2017 18:05:02 +0530 Tue, 25 Apr 2017 18:05:02 +0530 TaxTMI RSS Generator https://www.taxtmi.com/news?id=17936 GST is expected not to generate inflation because it consolidates existing multiple-point taxation rather than replacing a single-point tax; IGST on imports operates as an interim washout tax with credit at sale, aligning tax incidence between imported and locally manufactured goods. Administrative measures include GSTN migration, awareness camps, and sector guidance; small businesses may be exempt up to a turnover threshold or opt into a composition scheme with simplified quarterly returns. The IGST tourist refund provision remains in the Act but will not be operational at rollout. News - Tue, 25 Apr 2017 18:05:02 +0530 https://www.taxtmi.com/news?id=17936