One of the biggest taxation reforms in India - the Goods and Services. Tax (GST) - is all set to integrate State economies and boost overall growth. GST will create a single, unified Indian market to make the economy stronger.
The implementation of GST will lead to the abolition of other taxes such as Octroi, Central Sales Tax, State-level sales tax, entry tax, stamp duty, telecom license fees, turnover tax, tax on consumption or sale of electricity, taxes on transportation of goods and services, et cetera, thus avoiding multiple layers of taxation that currently exist in India.
GST perhaps is the most discussed bill in independent India. The talk which started many years ago, is still continuing. The reason is, Implementation of GST is the biggest tax reform hitherto ushered in the country.
The original date for its introduction i.e., April 1, 2010, missed due to various reasons, Business community is....
