Journal Press India®

National Goods and Services Tax (GST): The Road Ahead

Vol 1, Issue 1, January - June 2014 | Pages: 146-151 | Commentary  

 
Article has been added to the cart.View Cart (0)
https://doi.org/10.17492/vision.v1i1.2418


Author Details ( * ) denotes Corresponding author

1. * Aanchal Gupta, Assistant Professor, Department of Management , Deen Dayal Upadhyaya College, University of Delhi, Delhi, India

Goods and Services Tax (GST) is a part of the proposed tax reforms to evolve an efficient and harmonised consumption tax system in the country. GST is proposed to be a comprehensive indirect tax levy on manufacture, sale and consumption of goods as well as services at the national level. GST would give India a world class tax system and improve tax collections. It would end the long standing distortions of differential treatment of manufacturing and service sector. The introduction of GST will lead to the abolition of various central and state indirect taxes and eliminate the cascading effects of multiple layers of taxation. It is claimed that GST will facilitate seamless credit across the entire supply chain and across all states under a common tax base. The changeover to GST will be a game-changing tax reform measure which will significantly contribute to the buoyancy of tax revenues, acceleration of growth, and generation of many positive externalities. Once the integrated GST across the country is introduced, it will simplify tax administration and eliminate cascading of taxes. It will lead to reduction in the distortions in the structure of production, consumption and exports and further to a more efficient allocation of resources. The demand for manufactured goods can be expected to grow significantly. This paper explains the modalities of the proposed GST.

Keywords

Goods and Service tax, sales tax, cascading effect

  1. Government of India, Ministry of Finance, Budget Speech of the Finance Minister, 2006-07, Part B, p. 26.
  2. Government of India, Planning Commission, Twelfth Five Year Plan (2012-17), Volume I, Chapter 1, para 1.144.
  3. Government of India, Ministry of Finance, Budget Speech of the Finance Minister, 2013-14.
Abstract Views: 279
PDF Views: 149

Advanced Search

News/Events

Institute of Managem...

Deccan Education Society Institute of Management Development and Re...

S.B. Patil Institute...

Pimpri Chinchwad Education Trust's S.B. Patil Institute of Mana...

D. Y. Patil IMCAM, A...

D. Y. Patil Institute of Master of Computer Applications & Managem...

Vignana Jyothi Insti...

Vignana Jyothi Institute of Management International Conference on ...

Department of Commer...

Department of Commerce, Faculty of Commerce & Business, University...

Birla Institute of M...

Birla Institute of Management Technology (BIMTECH) 3rd Pritam Singh M...

OP Jindal University...

OP Jindal University, India 4th International Conference on  ...

Department of MBA, N...

Department of MBA, Narayana Engineering College Nellore International...

Vignana Jyothi Insti...

Vignana Jyothi Institute of Management Conference Proceedings,...

Online Proceedings R...

Conference Proceedings, March 2023 ISBN: 978-81-956810-6-8 ...

By continuing to use this website, you consent to the use of cookies in accordance with our Cookie Policy.