SAMPLE CHAPTER GUIDE TO GST
Develop National Market - One Nation One Tax. Avoid cascading effect of various indirect taxes like Central
Excise, Central Sales Tax, State Vat and Entry Tax (Octroi).
Reduce multiplicity of indirect taxes. Reduce distinction between goods and services to avoid overlapping
of State and Central Tax on same transaction.
Remove barriers in inter-State movement of goods to reduce
wastage of truck time and wastage of man-hours at check posts.
1.1 Achievement in last five years National Market - about 70% achieved Avoid cascading effect of taxes - about 60% achieved Problems due to overlapping of VAT and service tax – more or less
eliminated
Abolition of check posts (but not abolition of harassment through
road checks - Official Highway Robbery)
1.2 Unique features of GST as implemented in India Concept of IGST is a unique idea - goods move with taxes -
nowhere else tried in world - it is a game changer
GST on supply and not on manufacture or sale. This changes
entire structure of tax
Dual structure of GST Uniform law on goods and services all over India - great
achievement
Goods and Services Tax (GST) will be on ‘supply’ of goods or
services or both, in India w.e.f. 1-7-2017 (including Jammu and I-9