Goods & Services Tax (GST) in IndiaGST – 2016 A Truth or Still A Dream Away ?

November 28, 20150

Recently , Prime Minister of India ,Mr Modi , during his trip to Singapore aired that GST is about to roll out in 2016 in India .

This was a big statement , amidst various speculations and political changes in the country. The timing of the meeting between existing PM and previous PM ,Mr Manmohan Singh alongwith Mrs Sonia Gandhi , President of Congress Party in India is also seen as a new and big diplomatic attempt to make GST a reality .

It is pertinent to note that winter session of Parliament has started and this session will play a crucial factor for deciding whether GST will become a truth or still a dream away for 2016 in India or otherwise .

With GST , a slight drop in prices of goods is being speculated . Since, it will curtail tax burden on the consumer, reduce transit time and result more efficiency into the system .

 

There are various implications and expectations out of implementation of GST in India especially when it is going to result a growth of 2% in GDP in India .

 

GST is also considered to be path breaking factor for business in India . It is wrothwhile to mention that the direct beneficiary of GST would be manufacturers and logistic companies, including warehouse facilitators.

Needless to mention that even if at all GST can become a reality in 2016, then too the possible and reasonable time will be around August ,2016 onwards rather than 1st April 2016 .

Leave a Reply

Your email address will not be published. Required fields are marked *

Current day month ye@r *

© 2020-21 AMLEGALS Law Firm in Ahmedabad, Mumbai, Kolkata, New Delhi, Bengaluru for IBC, GST, Arbitration, Contract, Due Diligence, Corporate Laws, IPR, White Collar Crime, Litigation & Startup Advisory, Legal Advisory.

 

Disclaimer & Confirmation As per the rules of the Bar Council of India, law firms are not permitted to solicit work and advertise. By clicking on the “I AGREE” button below, user acknowledges the following:
    • there has been no advertisements, personal communication, solicitation, invitation or inducement of any sort whatsoever from us or any of our members to solicit any work through this website;
    • user wishes to gain more information about AMLEGALS and its attorneys for his/her own information and use;
  • the information about us is provided to the user on his/her specific request and any information obtained or materials downloaded from this website is completely at their own volition and any transmission, receipt or use of this site does not create any lawyer-client relationship; and that
  • We are not responsible for any reliance that a user places on such information and shall not be liable for any loss or damage caused due to any inaccuracy in or exclusion of any information, or its interpretation thereof.
However, the user is advised to confirm the veracity of the same from independent and expert sources.