Contact: +91-9711224068
International Journal of Applied Research
  • Multidisciplinary Journal
  • Printed Journal
  • Indexed Journal
  • Refereed Journal
  • Peer Reviewed Journal

ISSN Print: 2394-7500, ISSN Online: 2394-5869, CODEN: IJARPF

IMPACT FACTOR (RJIF): 8.4

Vol. 3, Issue 12, Part A (2017)

A view of goods and service tax in India: Problems and prospects

A view of goods and service tax in India: Problems and prospects

Author(s)
C Nataraj
Abstract
India is a federal country where Indirect Tax is levied by Federal and State Government. Value Added Tax is levied by State Governments. Every State has authority to decide the Tax rate and to control the Tax system as per their convenient. The Taxation power has been well defined in Indian Constitution. The Constitution (122nd Amendment) Bill that seeks to usher in a Goods and Services Tax (GST) regime in the country will finally be taken up for discussion in Parliament. Finance Minister Arun Jaitley has been affirming that India will implement GST from 1st April 2016. It can be looked as simplification of Taxes in country and avoiding unnecessary complexities. India is a federal country which has various Tax regimes and structure, where Tax is levied by both Governments. After the implementation of GST all the Indirect Taxes will be subsumed under an umbrella, it will be a milestone in the history of Indirect Tax reform. In this paper, an attempt has been made to examine the major features of GST. This paper has also focused on the problems likely to be faced by Central and State Governments.
Pages: 40-45  |  963 Views  84 Downloads
How to cite this article:
C Nataraj. A view of goods and service tax in India: Problems and prospects. Int J Appl Res 2017;3(12):40-45.
Call for book chapter
International Journal of Applied Research
Journals List Click Here Research Journals Research Journals