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标题：Perspective of GST (Goods and Service Tax) in India
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作者：B. M. Munde ; Anil Chavan
期刊名称：International Journal of Innovative Research in Science, Engineering and Technology
印刷版ISSN：2347-6710
电子版ISSN：2319-8753
出版年度：2016
卷号：5
期号：11
页码：19125
DOI：10.15680/IJIRSET.2016.0511074
出版社：S&S Publications
摘要：Obliviously, upcoming Goods and Service Tax is one of the revolutionary steps in the domain ofindirect taxes in the country after seventy years of independence. GST is in existence more than 160 countries of theworld. It will narrow economic distance between producers and consumers as it will be imposed only value addition.The dream of one country, one act and one tax will be observed. It is expected that, it will help to improve theproductivity in the country as well as will be benefited to the consumers, as maximum rate of GST is predetermined. Itwill also help to avoid the multiple taxation, processes, tax evasion etc.Government proposed Central GST and StatesGST. CGST will subsume central excise duty, excess central excise duty, service tax, excess custom duty and specialexcess custom duty. SGST will subsume sale tax/ VAT, entertainment tax (other than local bodies),sale tax which isimposed by Centre Government and collected by states, purchase tax, luxury tax and lottery tax and more significantlyoctroi which is a major source of revenue of the Municipal Corporations like Brihanmumbai. Already there is verticalimbalance of resources and responsibilities among Governments in India. Regarding this, 73rd and 74th constitutionalamendments compel states to appoint State Finance Commissions regularly after particular time interval but experienceis not satisfactory as there was not regularity and discipline among the states.Therefore, in this research paper probablepros and cons about upcoming arediscussed. The GST Bill has been approved by president of India on 3rd August 2016in RajyaSabha and on 8th August 2016 in LokSabha with ratification by more than 50 percent of state legislation. It isexpected thatGST will be implemented from 1st April, 2017.
关键词：Vertical imbalance; progressive taxation; incidence of the tax;GST; VAT;Revenue Neutral Rate.