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How will be Inter-State Transactions of Goods and Services be taxed under GST in terms of IGST method?

Question 17 - Draft-Bills-Reports - Frequently Asked Questions (FAQ) GST - Goods and Services Tax - Question 17 - Q 17: Ans: The Empowered Committee has accepted the recommendation for adoption of IGST model for taxation of inter-State transaction of .....

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credit of IGST, CGST, and SGST on his purchases. The Exporting State will transfer to the Centre the credit of SGST used in payment of IGST. The Importing dealer will claim credit of IGST while discharging his output tax liability in his own State. T .....

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rnments to transfer the funds. The major advantages of IGST Model are: a. Maintenance of uninterrupted ITC chain on inter-State transactions. b. No upfront payment of tax or substantial blockage of funds for the inter-State seller or buyer. c. No ref .....

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