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

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Goods and Services Tax: Some Progress towards Clarity

The first discussion paper on Goods and Services Tax released by the Empowered Committee is an important step in signalling the consensus and commitment to harmonise the indirect taxes levied by the states and the centre and in traversing some distance in clarifying the design and implementation aspects of the new tax regime. The efforts of the EC must be complimented for building a consensus on many a contentious issue in the process of evolving the GST in the country. However, much more remains to be done, many of the design and implementation issues are yet to be negotiated and settled and it would take considerable time and effort before they are finalised.

the recent reforms to introduce the VAT at both the central and state levels, a considerable amount of cascading continues. The high threshold and large list of exemptions in the central value added tax (CENVAT) and non-inclusion of a number of services in the service tax do not allow

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