-CA Keshav Garg
The government is showing the political
will in enforcing GST law from April 01, 2016. In this scenario it becomes
important to discuss about the provisions which would be applicable in case of
interstate transactions. The122nd constitutional amendment bill proposes to
introduce Integrated GST (IGST) (CGST + SGST)where one comprehensive rate of
tax shall be charged on interstate supply ofgoods or provision of services. The
IGST regime would do away with the "C" Form and "F" Form
provisions. GST being a destination based consumption tax, IGST even being
charged by center, SGST component shall be allocated to the importing state.
The dealer of exporting state shall be able to take the credit of CGST and
SGST, which he has paid on his purchases.