https://www.taxtmi.com/news?id=17990 The document announces implementation of the Goods and Services Tax (GST) as a unified national indirect tax, to be operationalised through a federal GST Council that will finalise rates and allocate goods and services into a four tier structure; the Council will choose slabs by reference to existing combined central and state levies and apply an additional cess to demerit and luxury items. The reform seeks to eliminate cascading taxes, anticipate small differential effects on goods and services prices, reduce evasion, and relies on State GST laws, framed rules and a simplified IT filing network to support rollout. en-us Mon, 08 May 2017 13:27:34 +0530 Mon, 08 May 2017 13:27:34 +0530 TaxTMI RSS Generator https://www.taxtmi.com/news?id=17990 The document announces implementation of the Goods and Services Tax (GST) as a unified national indirect tax, to be operationalised through a federal GST Council that will finalise rates and allocate goods and services into a four tier structure; the Council will choose slabs by reference to existing combined central and state levies and apply an additional cess to demerit and luxury items. The reform seeks to eliminate cascading taxes, anticipate small differential effects on goods and services prices, reduce evasion, and relies on State GST laws, framed rules and a simplified IT filing network to support rollout. News - Mon, 08 May 2017 13:27:34 +0530 https://www.taxtmi.com/news?id=17990