Abstract
The new regime of Goods and Services Tax as proposed to be brought in by inserting Art. 269A into the Constitution aims to simplify the process of paying indirect taxes, thereby boosting the economy. The article discusses the taxation models adopted worldwide like Origin-based Taxation, Deferred Payment and Reverse Charge, Dual VAT with deferred payment, Compensating VAT, Viable Integrated VAT, Prepaid VAT or the Split Payment Method and goes on to explain why the IGST model is best suited to Indian conditions. The advantages offered by this model for both the tax payers and the tax administrators have been highlighted along with certain essential requirements in the administrative set-up for the model's effects to be fully felt. The author finally argues that the IGST model has the potential to drastically reduce procedural barriers and create a common market, allowing the economy to flourish.
Recommended Citation
Gupta, C.A. Upender
(2016)
"Integrated Goods and Services Tax (IGST),"
National Law School of India Review: Vol. 28:
Iss.
2, Article 4.
Available at:
https://repository.nls.ac.in/nlsir/vol28/iss2/4
