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Service Tax:
The Way Ahead
Why is GST
A
Under
The
This
Tax
cascading effect
Central Sales Tax (CST) on inter-state sales,
collected by the origin state and for which no
credit is allowed by any level of government
The exempt sectors are not allowed to claim
any credit for the CENVAT or the service tax
paid on their inputs
Constitutional Provisions
on Centre-State Fiscal
Balance
Direct Tax Income Tax levied by the Centre
Tax
Inter-state
(4) Centre will give Input Tax Credit (ITC) only for CGST
and the State only for SGST. Cross utilisation of ITC
between CGST & SGST shall not be allowed.
(5) Centre will legislate, levy & administer the CGST
portion on its own and the States the SGST portion on
their own.
(6) To avoid deviations by the States, there shall be a
mechanism, wherein the rates and other relevant
parameters will be decided upon by the Centre & the
States. The rates can thereafter not be changed by
the Centre or any of the States, without approval of
the same mechanism. A Constitutional mechanism
will be introduced
Dual GST
Centr
al GST
IGST
State
GST
GST
GST
Thank You