India launched its ambitious pan-India indirect tax regime, the Goods and Services Tax (GST) at the stroke of midnight hour to bind the country into a regime of “one nation, one tax, one market”. President Pranab Mukherjee and Prime Minister Narendra Modi pressed the button to launch the new indirect tax regime on a digital screen with “GST” emblazoned on it in a golden hue to mark the entry of […]

What began in March 1986 as an effort to reform indirect taxation is all set to finally reach its fruition on July 1 in the form of the Goods and Services Tax (GST). Initiated by the UPA Finance Ministry in 2009, GST is touted to be the biggest change in tax regime since Independence and purportedly one of the biggest successes of the current NDA government. The GST is an […]