A compliance strategy for GST

It is quite clear that to get the compliance benefit of the GST design, all economic entities must be brought within the tax net so that the invoice trail is established

Topics
Goods and Services Tax | GST compliance

V S Krishnan 

V S Krishnan

The goods and services tax (GST) was a truly transformational reform. One of the key expectations from GST was that the revenue gains would be significant because of its design, which ensures self-policing and compliance by bringing the entire value chain from raw material to retail under a single tax system.

In the pre-GST era, the value chain was fractured for the purpose of taxation, with the Centre taxing the value chain up to the manufacturing stage and the states taxing the later trade chain. The first study on the buoyancy of GST was made by Arvind Subramanian and Kapil Patidar ...

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First Published: Tue, February 09 2021. 23:13 IST
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