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TAXES
Hurdles Before the GST
INTRODUCTION
GST was targeted to be in place by fiscal
year 2013-2014 (DECISION STILL PENDING)
Many state govts. Continue to express
concerns about revenue loss , fiscal
autonomy and lack of GST
infrastructure.
Also there are some legal technical
and administrative issues that need to
be addressed before GST becomes a
reality
BENEFITS
More transparent and corruption free
tax administration
Minimise cascading effect
Better allocation of resources
It will provide a simple structure to
levy , collect and administer the
taxes in the country.
Legal Issues
The GST council should be set up as
a statutory body as proposed under
article 279A and it should be given
legal backing while extending its
scope beyond just offering
recommendations.
Administrative Preparedness