https://www.taxtmi.com/news?id=17966 A national Goods and Services Tax introduces a destination-based, dual GST regime with IGST on inter State supplies; the GST Council recommends rates, exemptions and thresholds. The design subsumes most Central and State indirect taxes, prescribes ring fenced input tax credit streams with ordered utilisation and periodic settlement between Centre and States, provides threshold exemptions and an optional composition scheme for small taxpayers, mandates electronic administration, and establishes institutional mechanisms (tribunal, advance ruling, anti profiteering) alongside transitional and procedural rules for roll out. en-us Wed, 03 May 2017 12:34:57 +0530 Wed, 03 May 2017 12:38:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/news?id=17966 A national Goods and Services Tax introduces a destination-based, dual GST regime with IGST on inter State supplies; the GST Council recommends rates, exemptions and thresholds. The design subsumes most Central and State indirect taxes, prescribes ring fenced input tax credit streams with ordered utilisation and periodic settlement between Centre and States, provides threshold exemptions and an optional composition scheme for small taxpayers, mandates electronic administration, and establishes institutional mechanisms (tribunal, advance ruling, anti profiteering) alongside transitional and procedural rules for roll out. News - Wed, 03 May 2017 12:34:57 +0530 https://www.taxtmi.com/news?id=17966