Challenges of gst
It has been long pending issue to streamline all the different types of indirect taxes and
implement a ―single taxation‖ system. This system is called as GST ( GST is the abbreviated
form of Goods & Services Tax). The main expectation from this system is to abolish all
indirect taxes and only GST would be levied. As the name suggests, the GST will be levied
both on Goods and Services.
GST was first introduced during 2007-08 budget session. On 17th December 2014, the current
Union Cabinet ministry approved the proposal for introduction GST Constitutional
Amendment Bill. On 19th of December 2014, the bill was presented on GST in Loksabha.
The Bill will be tabled and taken up for discussion during the coming Budget session. The
current central government is very determined to implement GST Constitutional Amendment