Concept Paper

CONCEPT PAPER GST poseur 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 slackening and sectoral reforms pass on been the chief contributors to this growth. Tax reforms too use up kept footstep and India has go from the origin establish corpse of revenue enhancementation of goods to experimental conditioninal based carcass; introduced appraiseation of go and moved to a more(prenominal)(prenominal) robust system based on subject added principles. The place reform process is also gaining ground with paying attention and exposure and the pace of reform is now faster. After achieving, what numerous another(prenominal) considered as an almost impossible task, of moving from sales tax system for taxation of goods at subject level to more modern system of value added tax at the order level, now is the time to move to consolidation of taxes on goods and function an d achieve true value added tax system (also referred to as Goods and Service Tax) encompassing both goods and services at low 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 panoptic Goods and Services Tax (GST) by 2010. stretch of this Concept Paper This Concept Paper suggests GST Model for the country that could be adopted in short ! term and identifies issues that 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 case-by-case point charge (e.g. excise duties ) Destination based ace point charge ( e.g. retail sales tax) Destination based multi point levy with input tax credit utensil ( e.g....If you want to get a full essay, order it on our website: OrderCustomPaper.com

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