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Goods and Services Tax  an unfinished agenda

  Jan 09, 2022

Goods and Services Tax  an unfinished agenda

Q What is the context  ?

A Seen purely from a revenue point of view and as a fiscal policy tool, India’s GST is still on a rocky road.

Q What is the background of GST ?

Q What are the Unresolved issues ?

A [1] Revenue neutrality not achieved

[2] Not conducive to co-operative federalism

[3] Need for revenue sharing formula for IGST

[4] Other issues

Q What can be Way forward ?

A Despite many years of efforts in evolving an Indianised GST system and over 50 months of adjustments with over a thousand notifications, with accompanying uncertainties in the first year and the novel coronavirus pandemic and the lockdown still in the saddle, GST continues to be an unfinished agenda. But how far and how long?