An Analytical Study of Goods and Services Tax (GST) Bill in India

Author: R. P. Singh* Department of Commerce & Business Administration Samrat Prithviraj Chauhan Degree College, Baghpat, U.P. India Email Id: spcdcollege@gmail.com

Abstract:
This Bill replaces an earlier one introduced in 2011 by the erstwhile government which had since lapsed. In a positive development towards India’s progress into a nationwide unified market and removing trade barriers in the form of cascading effects of taxation, the Central Government tabled the 122nd Constitution Amendment Bill, 2014 on the introduction of Goods and Services Tax (‘GST’) before the lower house of Parliament on December 19, 2014. This Bill replaces an earlier bill introduced in 2011 by the erstwhile government which had since lapsed. In this study, we have summarized the key structural features of the proposals contained in this Bill, and how it differs from erstwhile bill introduced in 2011 along with our macro-level analysis. We have also provided a reference to the key next steps which this Bill would need to navigate through to reach fruition and our thoughts on how the industry should view this.

Keywords:Goods and Services Tax, Special Purpose Vehicle, VAT, Central and State Service Taxes.

DOI:

International Journal of Trade & Commerce (Vol: 4 Issue:2)