https://www.taxtmi.com/news?id=20363 GST creates a unified, destination based consumption tax by subsuming central and state indirect levies and conferring concurrent taxing powers via constitutional amendment; it establishes a dual model (CGST and SGST/UTGST) for intra state supplies and IGST for inter state supplies with cross utilisation of input tax credits, prescribes a multi rate structure with a compensation cess to protect sub national revenues for five years, and provides for electronic administration, threshold and composition schemes, zero rating for exports, transitional provisions and anti profiteering safeguards. en-us Fri, 03 Aug 2018 17:31:26 +0530 Wed, 11 Feb 2026 15:57:46 +0530 TaxTMI RSS Generator https://www.taxtmi.com/news?id=20363 GST creates a unified, destination based consumption tax by subsuming central and state indirect levies and conferring concurrent taxing powers via constitutional amendment; it establishes a dual model (CGST and SGST/UTGST) for intra state supplies and IGST for inter state supplies with cross utilisation of input tax credits, prescribes a multi rate structure with a compensation cess to protect sub national revenues for five years, and provides for electronic administration, threshold and composition schemes, zero rating for exports, transitional provisions and anti profiteering safeguards. News - Fri, 03 Aug 2018 17:31:26 +0530 https://www.taxtmi.com/news?id=20363