ISSN (Print) - 0012-9976 | ISSN (Online) - 2349-8846

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Towards GST: Choices and Trade-offs

What kind of Goods and Services Tax is under contemplation? Will it only replace CENVAT and the service taxes levied by the centre, leaving, the state VATs untouched? Or will it also displace the VATs now being levied by the states? These are important issues which have a vital bearing not only on the shape of trade taxation in the country but also on the federal structure of the polity envisaged in the Constitution and call for a more careful consideration than has taken place, so that choices are made with a clear-eyed view of the trade-offs.

T he announcement by union finance minister Chidambaram in this years budget speech of his intent to introduce a national Goods and Services Tax (GST) from 2010 has been enthusiastically welcomed by many, especially corporate businesses. This is understandable.

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