GST would replace the current regime of Indirect taxation in India which comprises of different taxes imposed by the Centre and the States on different Taxable Events. While the Union Parliament imposes tax on Manufacture (Excise Duty), Services (Service Tax), Imports & Exports (Customs Duty); the States impose tax on Sale of Goods (VAT), Entry of Goods (Entry Tax), Entertainment and Luxury (Ente
rtainment and Luxury Tax). Model GST Law is an interesting mix of a new & highly evolved concept, couched in a framework which is largely based upon the complicated, cumbersome and highly controlled legislations currently prevailing. Being professionals working as specialists in the areas concerning Indirect taxes, we were naturally interested in examining the new GST law and to spread awareness on the various important aspects concerning the same. It is also important to garner the views of the stake holders which is only possible when they are made aware of the fine print, through professional’s eye peeping into the fine print. Thus, we present this page to you all, containing the analysis of various issues in minutest detail possible.
