Both would be levied on the same price or value unlike State VAT which is levied on the value of the goods inclusive of Central Excise.
Existing tax payers will not have to apply afresh for registration under GST
Focus on going digital and ‘ease of doing business’
Both Centre and States will simultaneously levy GST across the value chain
Find out which taxes you don’t have to pay anymore!
Find out how GST will benefit the industry, the governments and the consumers.
It is a step ahead for ‘Nation’s Good’ and Nation’s Service!
Immediate and medium-term firewalls are solid too in the form of a healthy reserve position.
However, besides passage by Parliament, it also requires ratification by at least half the number of the State Assemblies.