Since India is primarily a federal state and the tax revenue from the supply of goods and services has to be proportionately shared between the centre and states, a three-tier tax system was introduced under the GST. Under this system, tax liabilities arise, based on the movement of the goods or services within or outside a state.
Source: housing.com
Latest Posts in "India"
- Chennai Fake GST Invoice Racket Busted; ₹350 Crore Evasion Suspected, Prime Accused Arrested
- Overpaid GST: Rectification or Refund? Understanding When to Adjust and When to Claim Refund
- Insurance Brokers Push for Zero-Rated GST to Restore Input Tax Credit and Prevent Premium Hikes
- Delhi High Court: ITC Re-credit Cannot Be Denied Due to GST Portal Technical Limitations
- Key GST and Customs Legal Updates: E-Filing, ITC, Refunds, and Recent High Court Judgments
