During the transition of Local Government General sales tax to State VAT and the subsequent initiatives of E Governance, similar to GST, many state Governments made various attempts. But they did not bring the desired result.
INTEGRATED GOODS AND SERVICES TAX ACT, 2017 deals with Levy and collection of tax, exemption from tax, nature of supply whether inter or intra state, place of supply of goods or services whether within or outside India, Special provision for online information services, zero rated supply, Tax refunds on exports and Tax refunds to tourists.
If the value of the supply of goods or services or both cannot be still be determined, the same shall be determined in such manner as may be prescribed.
Section 7 (1) of CGST Act, 2017 – supply includes– (a) all forms of supply of goods or services or both such as sale, transfer, barter, exchange, licence, rental, lease or disposal made or agreed to be made for a consideration by a person in the course or furtherance of business;
