Goods and Services Tax: A New Era

By Nitesh Jindal, Dr Ram Manohar Lohia National Law University, Lucknow.

Goods and Services Tax (GST) is an indirect tax which will bring transparency and effective governance in the country. It is a destination-based tax levied at multiple stages, starting with the manufacturing stage, to the sale of goods stage, whose overall burden has to be borne by the final consumer. GST has paved the way for a common national market by subsuming many indirect taxes, which, previously, were being levied by the Centre and the States, at various stages of production and which in turn had created many complications, such as, overburdening the consumers by various taxes, cascading of taxes, etc. (more…)

Goods and Services Tax: Concept & Analysis

By Ananya Banerjee, WBNUJS, Kolkata.

Indirect Taxes & GST

The Constitution (One Hundred and Twenty-Second Amendment) Bill, 2014 (the “Bill”) seeks to amend the Constitution to change the indirect tax structure of the country to facilitate the introduction of Goods and Services Tax (“GST”). Following the footsteps of most of the developed countries, the Centre is trying to implement a centralized structure with respect to goods and services. GST is meant to be a single, comprehensive tax that will subsume all the other smaller indirect taxes applicable on consumption. (more…)