TaxTMI 
TaxTMI 
Legislative Framework
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....tion. [ Article 366 (12A) ] * "Goods" includes all materials, commodities and articles. [ Article 366 (12) ] * "Service" means anything other than goods. [ Article 366 (26A) ] * "State" with reference to articles 246A, 268, 269, 269A and article 279A includes a Union territory with Legislature. [ Article 366 (26B) ]. It is important to point out that the word used is 'supply' and not 'sale', in the definition of Goods and Service Tax. Thus, stock transfers, branch transfers will also get covered under GST net. Also, GST will be payable on free supplies made to related persons. Power to make laws with respect to goods and services tax [ Article 246A ] Article 246A in Constitution of Ind....
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....d Services Tax Council. [Article 269A(1)] * Collection of GST is not part of Consolidated Fund of India - Article 269A * The amount apportioned to a State under article 269A(1) shall not form part of the Consolidated Fund of India. [Article 269A(2)] * Where an amount collected as tax levied on supply of goods or services in course of inter-state trade or commerce, import into the territory of India and has been used for payment of the tax levied by a State under article 246A, such amount shall not form part of the Consolidated Fund of India. * In other words, Where an amount collected as IGST has been used for payment of SGST, such amount shall not form part of the consolidated fund of India/state respectively, only cash collection ....
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....y other Minister nominated by each State Government are the Members of GST Council. [Article 279A(2)] * The GST Council shall make recommendations to the Union and the States on- [Article 279A(4)] * The taxes, cesses and surcharges levied by the Union, the States and the local bodies which may be subsumed in the goods and services tax; * The goods and services that may be subjected to, or exempted from the goods and services tax; * Model GST Laws, principles of levy, apportionment of GST levied on supplies in the inter course of inter- state or commerce, import into territory of India. * The principles that govern the place of supply; * The threshold limit of turnover below which goods and services may be exempted from goods and....