活動

  • Burch Egelund 的簡介照片

    Burch Egelund 發表更新 5 年, 8 月前

    This comparison relies upon the recommendations of the First Discussion Paper made by the Empowered committee of states fund ministers (hereafter called EC) and the Report of the Task Force on GST constituted from the Thirteenth Finance commission.

    Before going on dialogue we ought to establish GST and the Goal supporting it.

    What is GST?

    GST is a tax on goods and services with continuous and comprehensive chain of set-off benefits from the Producer’s stage and Service supplier’s point upto the retailer level. It is fundamentally a tax just on value addition at every stage and a provider at each stage is allowed to set-off via a tax credit mechanism. Under GST construction, all different phases of manufacturing and distribution can be interpreted as a mere taxation pass through and the taxation essentially sticks on final consumption within the taxing jurisdiction.

    Objective behind GST

    A) The incidence of tax simply falls on domestic consumption. B) The efficiency and equity of the system is optimized. C) There should be no export of taxes across taxing authorities. D) The Indian marketplace should be incorporated into a single common market. E) It enriches the cause of co-operative federalism.

    Our comparative discussion is going to be based only on significant points assembling overall GST.

    GST MODEL

    A dual structure was recommended from the EC. The two elements are: Central GST (CGST) to be levied by the middle and say GST (SGST) from the nations.

    GST tax consultant has also recommended for the dual lie imposed simultaneously by the centre and the nations, but independently to promote co-operative federalism. Both the CGST and SGST should be imposed on a common and indistinguishable base.

    Both have indicated for ingestion type GST, that is, there should be no differentiation between raw materials and capital goods in permitting input . The tax base should extend over all services and goods upto final consumption point.

    Additionally both are of the view that the GST should be structured on the destination principle. According to Task Force this will result in the shift from production to consumption where imports will probably be liable to both CGST and SGST and exports should be relieved of the burden of products and services tax by zero rating. Consequently, earnings will accrue to the state where the consumption occurs or is deemed to happen.

    This will facilitate elimination of the cascading effect at different phases of production and supply.

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