https://www.taxtmi.com/acts?id=47390 The Constitution is amended to introduce a national Goods and Services Tax regime conferring concurrent taxing power on the Union and States to levy tax on supply of goods and services, subsuming multiple specified Central and State indirect taxes. The amendment provides for an Integrated Goods and Services Tax on inter State transactions, an additional temporary inter State tax assigned to origin States, a compensation mechanism for State revenue loss, exclusions for alcoholic liquor and deferred inclusion of petroleum, and creation of a GST Council with weighted voting to recommend rates, exemptions and thresholds. en-us Mon, 13 Jan 2025 13:12:10 +0530 Wed, 12 Feb 2025 16:47:20 +0530 TaxTMI RSS Generator https://www.taxtmi.com/acts?id=47390 The Constitution is amended to introduce a national Goods and Services Tax regime conferring concurrent taxing power on the Union and States to levy tax on supply of goods and services, subsuming multiple specified Central and State indirect taxes. The amendment provides for an Integrated Goods and Services Tax on inter State transactions, an additional temporary inter State tax assigned to origin States, a compensation mechanism for State revenue loss, exclusions for alcoholic liquor and deferred inclusion of petroleum, and creation of a GST Council with weighted voting to recommend rates, exemptions and thresholds. Act-Rules F. Acts / Amendment Acts Mon, 13 Jan 2025 13:12:10 +0530 https://www.taxtmi.com/acts?id=47390