One Nation, One Tax
Goods and Service Tax
GST is a single comprehensive tax levied on goods and services consumed in an economy. It would mainly subsume union excise duties, customs duties (CVD/SAD), service tax and state VAT into a single levy. Introduction of GST would be the second major reform in India in the area of Indirect Taxes after Value Added Tax in the State in 2005.
GST will be a game changing reform for the Indian economy by creating a common Indian market and reducing the cascading effect of tax on the cost of goods and services. It will impact the tax structure, tax incidence, tax computation, tax payment, compliance, credit utilization and reporting, leading to a complete overhaul of the current indirect tax system.
GST will have a far-reaching impact on almost all the aspects of the business operations in the country, for instance, pricing of products and services, supply chain optimization, IT, accounting, and tax compliance systems.
Followings are the links to the GST documents.
First discussion paper
Comments of the Department of Revenue (DoR) on the First Discussion Paper on GST
115 Constitution Amendment bill
Standing Committee Report on 115 Constitution Amendment bill
122 Constitution Amendment bill
Report of Select Committee of Rajya Sabha on 122 Constitution
Revenue Neutral Rate – CEA Report
Report of the Joint Committee on Business Process on GST Payment Process
Report of the Joint Committee on Business Process on GST Registration
Report of the Joint Committee on Business Process on GST Refund
Report of the Joint Committee on Business Process on GST Return
Model GST law
Draft rules and formats
101st Constitution Amendment Act
FAQs on GST
Revised Model GST laws
GST Suvidha Provider (GSP)
GST concept and status for department