Open AccessChallenges of gst
Author(s) -
N Ramya
Publication year - 2017
Publication title -
journal of management and science
Language(s) - English
Resource type - Journals
eISSN - 2250-1819
pISSN - 2249-1260
DOI - 10.26524/jms.2017.49
Subject(s) - cabinet (room) , christian ministry , session (web analytics) , goods and services , business , government (linguistics) , finance , economics , political science , law , advertising , economy , art , linguistics , philosophy , visual arts
It has been long pending issue to streamline all the different types of indirect taxes andimplement a ―single taxation‖ system. This system is called as GST ( GST is the abbreviatedform of Goods & Services Tax). The main expectation from this system is to abolish allindirect taxes and only GST would be levied. As the name suggests, the GST will be leviedboth on Goods and Services.GST was first introduced during 2007-08 budget session. On 17th December 2014, the currentUnion Cabinet ministry approved the proposal for introduction GST ConstitutionalAmendment Bill. On 19th of December 2014, the bill was presented on GST in Loksabha.The Bill will be tabled and taken up for discussion during the coming Budget session. Thecurrent central government is very determined to implement GST Constitutional AmendmentBill.