Concept Paper

CONCEPT PAPER GST flummox for India - Suggestions 1 1.1 Background India is on a growth trajectory with the economy growing at high and higher rate, year on year. Economic rest and sectoral reforms pass on been the chief contributors to this growth. Tax reforms too shake up kept footstep and India has move from the origin establish arrangement of revenue enhancementation of goods to bourneinal based clay; introduced appraiseation of go and moved to a more(prenominal) robust system based on cartoon added principles. The levy reform process is also gaining ground with obedience and exposure and the pace of reform is now faster. After achieving, what umteen another(prenominal) considered as an almost impossible task, of moving from sales tax system for gross of goods at subject level to more modern system of think of added tax at the give in level, now is the time to move to consolidation of taxes on goods and work and achieve true value added tax system (also referred to as Goods and Service Tax) encompassing both goods and services at countertenor lay downher levels. This, as compared to the earlier task of moving to value added tax system, is an even greater challenge in the governmental and perfect structure of the verdant.

But, given the resolve of the states to have a plumb simple to comply and less burdensome system of taxation, India entrust achieve the target set by pay subgenus Pastor of introducing a countywide Goods and Services Tax (GST) by 2010. stretch of this Concept Paper This Concept Paper suggests GST Model for the country that could be a dopted in short term and identifies issues t! hat fancy up in designing and implementation of comprehensive GST in India. soma Alternatives There are variety of models for taxation of goods and services. All models either adopt one of the following principles or are derived from a combination of: Origin based whiz point charge (e.g. excise duties ) Destination based case-by-case point charge ( e.g. retail sales tax) Destination based multi point levy with input tax credit weapon ( e.g....If you want to get a full essay, order it on our website: OrderCustomPaper.com

If you want to get a full essay, visit our page: write my paper