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Evolution of Goods and Services Tax in India

Evolution of Goods and Services Tax in India

Author: R. Kavita Rao; Sacchidananda Mukherjee
Publisher: Cambridge University Press
ISBN: 9781108473965
Published In: May 2019
Format: Hardback
Jurisdiction: U.K. ? Disclaimer:
Countri(es) stated herein are used as reference only

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Description
Contents

Details

Goods and Services Tax (GST) was implemented in India in July 2017, after four decades of protracted deliberations amid critical socio-economic and political challenges. GST is a comprehensive multistage value added tax (VAT) on goods and services where both central and state governments share the same tax base. Finding a suitable design for GST that encompasses taxes from both the centre and the state tax brackets makes the Indian GST unique among GST implemented in other federal countries.

This book is a study of the evolution of GST in India since the Report of the Indirect Taxation Enquiry Committee of 1977. It studies the following issues on GST: a) inclusion and exclusion of taxes, b) finding a suitable mechanism to handle inter-state transactions, c) finding revenue neutrality of the tax reform, d) providing compensation to states for any possible loss of revenue due to its adoption, and e) possible scope for coordination in GST administration.

List of tables

Acknowledgements

List of abbreviations

Introduction

Part I. Genesis and Evolution of GST in India:

1. Decades of indirect tax reforms in India: a journey towards Goods and Services Tax (GST)

2. Towards GST: choices and trade-offs with Amaresh Bagchi

3. Goods and Services Tax: the Thirteenth Finance Commission and the way forward

4. Present state of Goods and Services Tax (GST) reform in India

Part II. Revenue Neutrality of GST:

5. Estimation of revenue neutral rates for Goods and Services Tax in India

6. New assumptions, new estimates: scrutinising a new report on revenue neutral rate