Collection and Payment of Tax - Possible Mechanism in GST In this - TopicsExpress



          

Collection and Payment of Tax - Possible Mechanism in GST In this system, the vendors will collect the destination State GST on interState supplies (of goods and services) and remit the full tax (without claiming input tax) directly to the Destination State through Bank. The tax will then be creditable in the destination State under the normal rules, i.e., if it relates to inputs for use in making taxable supplies. Input tax credit on purchases will be claimed by the seller from his State either by way of refund or through adjustment against his local CGST and SGST output tax liability
Posted on: Tue, 27 Jan 2015 07:50:12 +0000

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