https://www.taxtmi.com/news?id=19892 A national indirect tax replaced multiple central and state levies with a single tax on the supply of goods and services under a dual GST model-CGST and SGST/UTGST-with IGST for inter state and import transactions. The system is destination based, limits cross utilisation of input tax credit between central and state streams except as prescribed for IGST, establishes threshold and composition schemes for small taxpayers, provides for harmonised rates, a GST Council for governance, an electronic GSTN portal for registration and returns, and transitional and administrative measures including anti profiteering and settlement mechanisms between Centre and States. en-us Sat, 07 Apr 2018 16:52:15 +0530 Sat, 07 Apr 2018 16:54:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/news?id=19892 A national indirect tax replaced multiple central and state levies with a single tax on the supply of goods and services under a dual GST model-CGST and SGST/UTGST-with IGST for inter state and import transactions. The system is destination based, limits cross utilisation of input tax credit between central and state streams except as prescribed for IGST, establishes threshold and composition schemes for small taxpayers, provides for harmonised rates, a GST Council for governance, an electronic GSTN portal for registration and returns, and transitional and administrative measures including anti profiteering and settlement mechanisms between Centre and States. News - Sat, 07 Apr 2018 16:52:15 +0530 https://www.taxtmi.com/news?id=19892