GST would be applicable on the supply of goods or services as against the present concept of tax on the manufacture and sale of goods or services.
GST would be a destination-based tax as against the present concept of origin-based tax.
The list of exempted goods and services would be kept to a minimum and harmonized for the Centre and the States as far as possible.
Exports would be zero-rated.
IGST credit to be fully utilized before using credit of CGST or SGST for tax payments.
Credit of CGST paid on inputs may be used only for paying CGST on the output. Credit of SGST paid on inputs may be used only for paying SGST on the output.