There would be dual GST i.e. both the Centre and the States would concurrently levy GST across the entire goods and services supply chain on a common base.
GST will be applicable on advance receipt.
For any purchase from unregistered dealer, registered person will be required to issue tax invoice and pay tax to govt.
If turnover of business in more than 1.5 crores, then such entities will be required to mention HSN Code on tax invoice, otherwise it is optional.
All business entity can get input credit of IGST against CGST & SGST.