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CONCEPT PAPER

GST Model for India - Suggestions
1 1.1 Background India is on a growth trajectory with the economy growing at higher and higher rate, year on year. Economic liberalization and sectoral reforms have been the chief contributors to this growth. Tax reforms too have kept pace and India has moved from the origin based system of taxation of goods to destination based system; introduced taxation of services and moved to a more robust system based on value added principles. The tax reform process is also gaining ground with experience and exposure and the pace of reform is now faster. After achieving, what many considered as an almost impossible task, of moving from sales tax system for taxation of goods at state level to more modern system of value added tax at the state level, now is the time to move to consolidation of taxes on goods and services and achieve true value added tax system (also referred to – as Goods and Service Tax) encompassing both goods and services at all levels. This, as compared to the earlier task of moving to value added tax system, is an even greater challenge in the political and constitutional structure of the country. But, given the resolve of the states to have a fairly simple to comply and less burdensome system of taxation, India will achieve the target set by Finance Minister of introducing a comprehensive Goods and Services Tax (GST) by 2010. Scope of this Concept Paper This Concept Paper suggests GST Model for the country that could be adopted in short term and identifies issues that arise in designing and implementation of comprehensive GST in India. Design Alternatives There are variety of models for taxation of goods and services. All models either adopt one of the following principles or are derived from a combination of: Origin based single point levy (e.g. excise duties ) Destination based single point levy ( e.g. retail sales tax) Destination based multi point levy with input tax credit mechanism ( e.g....

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