https://www.taxtmi.com/news?id=18292 The document announces the nationwide implementation of a destination-based Goods and Services Tax replacing multiple transaction taxes and cesses with a single tax, administered through a consensus-based GST Council where Centre and States pool decision-making. It establishes unified registration and a single electronic return, preserves revenue neutrality and avoids undue burden on poorer taxpayers, and enables input tax credit to remove tax-on-tax cascading, with anticipated benefits of simplified compliance, reduced tax avoidance, moderated inflationary effects, and increased fiscal resources for governments. en-us Sat, 01 Jul 2017 10:38:21 +0530 Sat, 01 Jul 2017 10:38:21 +0530 TaxTMI RSS Generator https://www.taxtmi.com/news?id=18292 The document announces the nationwide implementation of a destination-based Goods and Services Tax replacing multiple transaction taxes and cesses with a single tax, administered through a consensus-based GST Council where Centre and States pool decision-making. It establishes unified registration and a single electronic return, preserves revenue neutrality and avoids undue burden on poorer taxpayers, and enables input tax credit to remove tax-on-tax cascading, with anticipated benefits of simplified compliance, reduced tax avoidance, moderated inflationary effects, and increased fiscal resources for governments. News - Sat, 01 Jul 2017 10:38:21 +0530 https://www.taxtmi.com/news?id=18292