https://www.taxtmi.com/news?id=21251 GST creates a destination based, dual tax where Centre and States concurrently tax a common base through CGST/SGST on intra State supplies and IGST on inter State supplies; the IGST and cross utilisation rules preserve input tax credit and govern periodic fund settlement. Constitutional amendment enabled the Goods and Services Tax Council to recommend scope, rates, place of supply principles and a five year compensation mechanism for States. Implementation rests on enacted CGST/IGST/UTGST and Compensation laws, a common IT platform for registration/returns/payments, e way bills, composition thresholds, zero rating for exports, and transitional relief measures. en-us Fri, 05 Apr 2019 14:45:08 +0530 Wed, 11 Feb 2026 15:58:11 +0530 TaxTMI RSS Generator https://www.taxtmi.com/news?id=21251 GST creates a destination based, dual tax where Centre and States concurrently tax a common base through CGST/SGST on intra State supplies and IGST on inter State supplies; the IGST and cross utilisation rules preserve input tax credit and govern periodic fund settlement. Constitutional amendment enabled the Goods and Services Tax Council to recommend scope, rates, place of supply principles and a five year compensation mechanism for States. Implementation rests on enacted CGST/IGST/UTGST and Compensation laws, a common IT platform for registration/returns/payments, e way bills, composition thresholds, zero rating for exports, and transitional relief measures. News - Fri, 05 Apr 2019 14:45:08 +0530 https://www.taxtmi.com/news?id=21251