‘Avoid cess, increase GST peak rate’

 India’s GST journey is in its critical phase with GST Council debating important issues like rate structure, administrative ease and GST law. Multiple rate structure is the pragmatic way forward, and aligned to what CEA report indicated. While debate around what will fall in which rate basket continues, it’s important we have consistent classification across … More ‘Avoid cess, increase GST peak rate’

Budget 2016 and Indirect Taxes- compliance and exceptions

Amidst the continued uncertainty around GST there were expectations that this Union Budget may usher in changes in central excise and service tax to align toward a Central GST. The expectations were around rate increases especially in service tax, base expansion both under excise and service tax with changes in thresholds and a more efficient … More Budget 2016 and Indirect Taxes- compliance and exceptions

CEA’s report on Revenue Neutral Rate and GST structure: both bold and pragmatic

The much awaited report on GST Revenue Neutral Rate (RNR) is finally tabled. The report provides an excellent insight on the frailities of our existing indirect tax structure, which fragments India, creates an import bias and leads to sub-optimal productivity. While we still await the passage of the Constitutional Amendment Bill (CAB) amidst the political … More CEA’s report on Revenue Neutral Rate and GST structure: both bold and pragmatic

Indirect Tax expectations from the Budget 2015

This Union Budget 2015 is expected to be a reality check on the Government’s ability to walk the talk and present transformational budget that will spur growth and foster investments into manufacturing and infrastructure. The budget is definitely expected to focus on incentivizing manufacturing to ensure “Make in India” is not a mere policy statement but … More Indirect Tax expectations from the Budget 2015

GST Constitution Amendment Bill – a significant step towards implementing the most awaited tax reform

The tabling of the Constitution Amendment Bill in the Lok Sabha on Friday is indeed a welcome step, and signals the Government’s serious intention of implementing this much-awaited Goods and Services Tax (GST) in April 2016. As the Finance Minister commented, this is one of the most important tax reforms since India’s independence. It enables … More GST Constitution Amendment Bill – a significant step towards implementing the most awaited tax reform