An Introduction to Goods and Services Tax– The Biggest Tax Reform in India

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By Santosh Dalvi And Krishnan Venkatasubramanian

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Description

The Goods and Services Tax, which subsumes all indirect taxes to create one rate and integrate the country into a single market is the biggest tax reform that is being undertaken since Independence. The vision behind introduction of GST is not only to get rid of the current patchwork of indirect taxes that are partial and suffer from infirmities, mainly exemptions and multiple rates, but also to improve tax compliances. The book covers the basic concepts about GST, its framework in India, impact of its introduction on economy, sectors etc. It also covers the international perspective across various countries on GST. Further book incorporates various drafts reports recently released.

 Key features

  • Basic concepts & framework of GST
  • International perspective on GST across various countries
  • Analysis of impact of GST on different aspects of business, various sectors and economy as a whole
  • Discussion on the potential pain points under GST
  • Identification of areas that need clarifications under GST and steps to be taken for transition
  • Including  Draft reports on business processes recently released:
    • Report on Registration process
    • Report on Payment process
    • Report on Refund process
    • Report on Returns
  • Including discussion on Dr. Arvind Subramanian’s Report on Revenue Neutral Rate (RNR)
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