https://www.taxtmi.com/news?id=18506 Goods and Services Tax (GST) creates a unified indirect tax framework replacing multiple central and state levies and establishing a common domestic market by applying an integrated tax on inter State supplies and separate central and State/Union territory components on intra State supplies. The reform subsumes specified central levies (central excise duties, additional excise and customs duties, service tax, and related surcharges and cesses) and specified state levies (state VAT, central sales tax, octroi and entry taxes, entertainment taxes, and related surcharges and cesses) and aims to reduce cascading, expand input tax credit, and simplify compliance through automation. en-us Fri, 28 Jul 2017 16:08:28 +0530 Fri, 28 Jul 2017 16:08:28 +0530 TaxTMI RSS Generator https://www.taxtmi.com/news?id=18506 Goods and Services Tax (GST) creates a unified indirect tax framework replacing multiple central and state levies and establishing a common domestic market by applying an integrated tax on inter State supplies and separate central and State/Union territory components on intra State supplies. The reform subsumes specified central levies (central excise duties, additional excise and customs duties, service tax, and related surcharges and cesses) and specified state levies (state VAT, central sales tax, octroi and entry taxes, entertainment taxes, and related surcharges and cesses) and aims to reduce cascading, expand input tax credit, and simplify compliance through automation. News - Fri, 28 Jul 2017 16:08:28 +0530 https://www.taxtmi.com/news?id=18506