THE Goods and Service Tax (GST) was successfully implemented across the nation on July 1, 2017 with a lot of fanfare. It is a buzz word in India these days spanning across trade circles, financial pundits, and investment gurus. GST is the biggest tax reform in India’s 70-year history as an independent nation. It has replaced a complex net of existing taxes, bringing uniform tax rates and rules and simplifying compliance for businesses. It is a single, unified tax which justifies the adage ‘One Nation-One Tax’ and will have a very positive impact on Indian economy. The government is trying very hard to implement GST successfully for the benefit of the common man but there are certain oversights, loopholes, or shortcomings in entire gamut of GST implementation that become a hurdle in sectoral growth, synergised policy making and financial transparency, which the Modi government has been encouraging ever since it has come to power.
http://www.gfilesindia.com/remove-flaws-to-make-gst-a-gamechanger/
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