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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 .....

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les tax and so on. European Union (EU) Nations (each one is independent Nation but, part of a Union and have agreed to adopt common principles for taxation of goods and services) have adopted classic VAT. In the Indian context, Constitution of India .....

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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-In .....

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implementation of GST: Extensive Computerization and strong IT infrastructure E-filing of periodical returns E-payment of tax Common tax period National portal for access of information National Agency Trained and well equipped staff. Central GST (CG .....

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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 ser .....

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has great appeal from the perspective of establishment and promotion of a common market in India. However, the States may worry about the loss of control over the tax design and rates. Indeed, some control over tax rates is a critical issue in achie .....

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bution based on the place of final consumption. The Bagchi Report also did not favour this option for the fear that it would lead to too much centralization of taxation powers. The key concerns about this option would thus be political. Notwithstandi .....

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a separate statute on all transactions of goods and services made for a consideration. Exceptions would be exempted goods and services, goods kept out of GST and transactions below prescribed threshold limits. CGST would be levied across the value c .....

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