Dissertation on goods and services tax

Vinod Rai in his inaugural address to the National Conference on GST put forth the concept as "An integrated scheme of taxation that does not discriminate between goods and services and is a part of the proposed tax reforms that centre on evolving an efficient and harmonized consumption tax system in the country. Moreover, the proposed regime seems to ignore the emerging sector of e-commerce. personal statement writers xaverianum The government of India should study the GST regime set up by various countries and also their fallouts before implementing it. The implication of GST assures a single taxation system in the entire country for all goods and services making tax compliance easier and more effective. Impact on the Telecommunications Sector in India.

This study finds that economic growth and labour market are effect by tax reform. November 20, Citation: Guidelines Upcoming Special Issues. business writing service grammar test With regard to exports the tax to be levied under the destination principle, i. It is a well-known fact that petroleum products have been a major contributor to inflation in India.

Vinod Rai in his inaugural address to the National Conference on GST put forth the concept as "An integrated scheme of taxation that does not discriminate between goods and services and is a part of the proposed tax reforms that centre on evolving an efficient and harmonized consumption tax system in the country. More than countries have implemented GST. help with a research paper to outline on bullying in schools In modern times, communication has assumed the dimension of telecommunication. On bringing GST into practice, there would be amalgamation of Central and State taxes into a single tax payment. Vat was introduced into the Indian taxation system from 1 April

Dissertation on goods and services tax buy an essay video games negative effects

Under this system, the consumer pays the final tax but an efficient input tax credit system ensures that there is no cascading of taxes- tax on tax paid on inputs that go into manufacture of goods [ 2 ]. There appears to be certain loopholes in the proposed GST tax regime which may be detrimental in delivering the desired results. Dissertation on goods and services tax The states are likely to lose the say in determining rates once GST is implemented. This results in the overall tax burden being rationalized and a fall in prices of goods.

Rates charged across all states and the central level will be uniform along with the regulations, definitions and classifications Applicability: Vinod Rai in his inaugural address to the National Conference on GST put forth the concept as "An integrated scheme of taxation that does not discriminate between goods and services and is a part of the proposed tax reforms that centre on evolving an efficient and harmonized consumption tax system in the country. Again E-commerce has been insulated against taxation under custom duty moratorium on electronic transmissions by the WTO Bali Ministerial Conference held in [ 4 ]. Dissertation on goods and services tax On bringing GST into practice, there would be amalgamation of Central and State taxes into a single tax payment. At the centre's level, GST will replace central excise duty, service tax and customs duties.

This can help the government to make decision either implement GST or remain with old one. More than countries have implemented GST. Dissertation on goods and services tax A good tax system should keep in view issues of income distribution and, at the same time, also endeavour to generate tax revenues to support government expenditure on public services and infrastructure development. Visit for more related articles at Business and Economics Journal.

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Vat was introduced into the Indian taxation system from 1 April It will lead to the abolition of taxes such as octroi, central sales tax, state level sales tax, entry tax, stamp duty, telecom license fees, turnover tax, tax on consumption or sale of electricity, etc. The current system taxes production, whereas the GST will aim to tax consumption.

The sharing of revenues between the states and the centre is still a matter of contention with no consensus arrived regarding revenue neutral rate. The GST model has some aspects which are as follows: Click here to sign up. research proposal writing service example-english language It will help the government to be prepared before the GST implementation. Goods and service tax ; Indian economy.

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The GST is expected to replace all the indirect taxes in India. Vinod Rai in his inaugural address to the National Conference on GST put forth the concept as "An integrated scheme of taxation that does not discriminate between goods and services and is a part of the proposed tax reforms that centre on evolving an efficient and harmonized consumption tax system in the country. Dissertation on goods and services tax However, on account of a difference of opinion amongst states, political compulsions, and insistence of many states on commitment of the government to compensate for revenue loss and coverage of specified products like petroleum, liquor, etc, GST could not be implemented even after extending the deadline. There are three purposes of this analysis.

Moreover, the proposed regime seems to ignore the emerging sector of e-commerce. E-commerce does not leave signs of the transaction outside the internet and has anonymity associated with it. Dissertation on goods and services tax Complexity -In spite of the improvements made in the tax design and administration over the past few years, the systems at both central and state levels remain complex. It is said that GST would impact negatively on the real estate market.


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