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PROPOSED CGST MODEL

Goods and Services Tax - GST - By: - Dr. Sanjiv Agarwal - Dated:- 13-1-2016 - There are three prime models of GST which have been decided to be implemented in India, viz, GST at Central (Union) Government level only GST at State Government level only GST at both, Union and State Government Leve Canada has GST at Union level extending to all goods and services covering all stages of value addition. In addition, there is tax at province (State) level in different forms which include VAT, Retail Sa .....

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e imposed by State Governments only. Illustration of GST Stage of supply chain Purchase value of Input Value addition Value at which supply of goods and services made to next stage Rate of GST GST on output Input Tax credit Net GSt = GST on output-Input tax crdit Manufacturer 100 30 130 10% 13 10 13-10=3 Whole seller 130 20 150 10% 15 13 15-13=2 Retailer 150 10 160 10% 16 15 16-15=1 Pre-requisites of GST Models All these Models discussed above require the following pre-requisites for successful .....

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re are several models for such a tax. Australia is the most recent example of a National GST, where it is levied and collected by the Centre, but the proceeds are allocated entirely to the States. In the case of a Central GST (where all goods and services are taxed by the Central government only), the Centre will collect most of the country s total tax revenue, leaving very little for the sub-national Governments. As against this, the present proposal is to have a dual GST. A single national VAT .....

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