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BASIC CONCEPTS OF GST (PART- 14) - Constitutional Amendments

Goods and Services Tax - GST - By: - Dr. Sanjiv Agarwal - Dated:- 26-3-2016 - Amendment of Union List List I of Seventh Schedule would stand amended as follows: Entry 84 relating to excise duty would deal with duties of excise on the following goods .....

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continue to attract excise duty. However, the Bill specifically provides that petroleum products might not attract GST. However, at a later stage the GST Council might decide to levy GST on petroleum products. Entries 92 (Taxes on the sale or purcha .....

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2 (Taxes on the entry of goods into a local area for consumption, use or sale therein) shall be omitted; and Entry 54 dealing with intra-State sales-tax/VAT shall be substituted and would deal with- taxes on the sale of petroleum crude, high speed di .....

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try 55 (Taxes on advertisements other than advertisements published in the newspapers and advertisements broadcast by radio or television) shall be omitted. Entry 62, which deals with entertainment/amusement tax would be substituted, such that taxes .....

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f inter-state trade or commerce and thus it will attract IGST (CGST plus SGST). Thus, import of goods will attract Basic Customs Duty and IGST, while import of services will attract IGST. Further, it appears that alcohol for human consumption will be .....

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riod Clause 18 of 122nd Amendment Bill provides for additional tax on inter-state supply as follows- an additional tax on supply of goods, not exceeding 1% in the course of inter State trade or commerce shall be levied and collected by the Government .....

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nion territories, shall not form part of the Consolidated Fund of India and be deemed to have been assigned to the States from where the supply originates. The Government of India may, where it considers necessary in the public interest, exempt such .....

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