Published Online:October 2024
Product Name:The IUP Journal of Law Review
Product Type:Article
Product Code:IJLR081024
Author Name:Rishabh Tomar and Nidhi Verma
Availability:YES
Subject/Domain:Law
Download Format:PDF
Pages:93-107
This study seeks to analyze the impact of GST with a focus on countries that have implemented it , India in particular, since it has brought a new shift in taxation strategies. To this end, the study adopts a comparative approach and compares the existing GST laws in India with analogous systems in other regions, including Australia, Canada, and the European Union. More specifically, it identifies the best practices and lessons that can potentially be used in further improving India’s GST. The study explores the legal regimes, enforcements and judicial treatments of GST in the abovementioned regions, providing an insight into how such jurisdictions have coped with the challenges posed by GST/VAT implementation. The study specifically seeks to identify the relative merits and demerits of the GST system implemented in India, comparing the strengths and weaknesses of similar systems implemented elsewhere, especially relating to the federal structure of revenue sharing and anti-profiteering measures. The study also pays attention to compliance, legal risk factors, legal litigations, and use of technology.
The Goods and Services Tax (GST) is an indirect tax levied on the supply of goods and services across the entire supply chain. It has been intended to substitute many crosssectional indirect taxes like VAT, service tax, excise duty, and others, which resulted in complications of the taxation structure and formation of segmented markets.