Single tax a utopian dream

THE advent of GST is a very significant and historic step in the field of indirect tax reforms in India. By amalgamating a large number of Central and State/UTs taxes into a single tax and allowing the set-off of prior-stage taxes, it would mitigate the ill effects of cascading taxation and pave the way for a common national market. There may also be revenue gain for the Centre and the UTs due to widening of the tax base, increase in trade volumes and improved tax compliance.

 

http://www.gfilesindia.com/single-tax-utopian-dream/

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About gfilesmagazine

gfiles is the country's first independent magazine written, designed and produced for India's civil services—the vast and formidable network of bureaucracies and public sector organisations that provides continuity and stability to this nation's governance.
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