GST ROLL OUT: Everything you want to know about India’s biggest tax reform A buzzer sound at midnight in Parliament’s central hall marked the switchover to the Goods and Services Tax (GST) Here’s all that you wanted to know about GST, independent India’s biggest reform initiative. It kicked-in from July 1, ending more than 11 years of hectic confabulations among the Centre and the states shepherded by several Union and state finance ministers, and withstanding testy relations often marked by political brinkmanship. What is it ? - GST is India’s most ambitious indirect tax reform plan - It aims to stitch together a common market by dismantling fiscal barriers between states. - It is a single national uniform tax levied across the country on all goods and services. - It will be implemented from July 1, 2017 What’s on now - The Centre and states levy multiple taxes such as excise duty, octroi, central sales tax (CST), value added...
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