https://www.taxtmi.com/news?id=25968 GST is a destination based tax on supply with a seamless input tax credit system, zero rating for exports, and IGST for inter State supplies; it establishes online registration, returns, e invoicing and reconciliation. Procedural rules cover refunds (60 day disposal, special inverted rate formula, pandemic exclusion from limitation), a sunset clause for adjudication (3/5 years), Advance Ruling with appeal rights, and interest limited to ITC both availed and utilised. Simplified regimes for small taxpayers include Composition Levy and QRMP, rationalised late fees, phased e invoicing thresholds, e Way Bill controls, and reward guidelines for informers. en-us Thu, 24 Nov 2022 18:50:45 +0530 Wed, 11 Feb 2026 15:59:30 +0530 TaxTMI RSS Generator https://www.taxtmi.com/news?id=25968 GST is a destination based tax on supply with a seamless input tax credit system, zero rating for exports, and IGST for inter State supplies; it establishes online registration, returns, e invoicing and reconciliation. Procedural rules cover refunds (60 day disposal, special inverted rate formula, pandemic exclusion from limitation), a sunset clause for adjudication (3/5 years), Advance Ruling with appeal rights, and interest limited to ITC both availed and utilised. Simplified regimes for small taxpayers include Composition Levy and QRMP, rationalised late fees, phased e invoicing thresholds, e Way Bill controls, and reward guidelines for informers. News - Thu, 24 Nov 2022 18:50:45 +0530 https://www.taxtmi.com/news?id=25968