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Expected Scheme of GST

Expected Scheme of GST

Dual Model:

GST shall have two components Central GST and State GST. The rates of which will be prescribed separately keeping in view revenue considerations, tax burden and acceptability of the tax.

Cross Utilization:

Input CGST and SGST can be utilized for payment of CGST and SGST. Cross Utilization between these two will not be allowed except in case of Inter-state supply of goods and services.

Carry forwards of CENVAT and VAT credit:

It is expected that in transition phase, the credit is allowed to be carried forward

Common Threshold Limit:

This shall apply to both CGST and SGST. Dealers with a turnover below it, would be exempt from tax. A compounding option (i.e. to pay tax at a flat rate without credits) would be available to small dealers below a certain threshold. The exemption and Compounding provision would be optional.

GST Registration:

It is expected that each taxpayer would be allotted a PAN-linked taxpayer identification number with a total of 13 to 15 digits. Thus , a combination of PAN being 10 digit number, two digits for state code and one or two check number for disallowing of fake numbers may be used.

GST Invoice:

Invoice is essential part of imposing and enforcing GST Regime. It should be standardized across all state so as to contain a minimum of information about the supply being invoiced


The taxpayer would need to submit common format for periodical returns, to both the Central and to the concerned State GST authorities

GST Payment:

Collection of GST being dominant source of revenue therefore it should be designed in such a periodic manner that it ensures proper flow of revenue to both Centre and State and at the same time minimize the burden on the taxpayer

GST Rate:

Combined GST rate is being discussed by the Government. The Revenue neutral rate is expected around 16 %. After the total GST rate is arrived the centre and state will decide on the CGST and SGST rate

GST Refund:

Refund of unutilized CGST and SGST is to be completed in time bound manner. The procedure and timeline are yet to be clarified.

Assessment etc.:

The function of assessment, enforcement, scrutiny and audit would be undertaken by the authority collecting the tax with information sharing between Centre and State.

Expected Scheme of GST

Gujarat VAT department has issued circular

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