GST: Gains and Challenges

By: Material type: ArticleArticlePublication details: Description: 32-37 pSubject(s): Online resources: In: Indian Banker ( IBA Bulletin as previously Known), 4(6) January 2017Summary: GST is a milestone in the journey to create a common market in the country by dismantling the silos within the country’s existing indirect tax structure. This may bring out economic boost and reduction in the incidence of tax for customers. What is immediately needed is the crystallisation of the tax base or alternatively preparing the list of goods and services to be taxed under GST as well as a decision on the attendant tax rate.
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GST is a milestone in the journey to create a common
market in the country by dismantling the silos within the
country’s existing indirect tax structure. This may bring out
economic boost and reduction in the incidence of tax for
customers. What is immediately needed is the crystallisation
of the tax base or alternatively preparing the list of goods
and services to be taxed under GST as well as a decision
on the attendant tax rate.

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