Goods and Services Tax (GST) is the single biggest tax reform in India’s history. No power on earth can stop an idea whose time has come, and it is now time of GST. GST will be levied on the supply of goods or services or both in India. | Mother of all tax reforms India s goods and services tax 2017 International Journal of Management IJM Volume 8 Issue 4 July August 2017 15 Article ID IJM_08_04_002 Available online at http ijm JType IJM amp VType 8 amp IType 4 Journal Impact Factor 2016 Calculated by GISI ISSN Print 0976-6502 and ISSN Online 0976-6510 IAEME Publication MOTHER OF ALL TAX REFORMS INDIA S GOODS AND SERVICES TAX 2017 Dr. R B Krishna Former Member of Income Tax Appellate Tribunal India Anand Kumar Jaiswal PhD. Research Scholar Jain University Bangalore India ABSTRACT Goods and Services Tax GST is the single biggest tax reform in India s history. No power on earth can stop an idea whose time has come and it is now time of GST. GST will be levied on the supply of goods or services or both in India. GST will subsume a number of existing indirect taxes being levied by the Centre and State Governments. With the introduction of GST India had switchover to new indirect Tax regime which is administered with the help of new age Information technology. In GST all the business transaction is captured on a common portal hence transparency in business dealings are established. With the introduction of the GST the Central and State Governments will have simultaneous powers to levy the GST. Credit for taxes would be given for input of goods and services with the help of GSTN which is a Technology platform for GST. GSTN is a National Information Utility NIU and it will provide reliable efficient and robust IT Backbone for the smooth functioning of the Goods amp Services Tax regime. The common GST Portal of GSTN will function as the front-end of the overall GST IT eco-system. The harmonization of laws procedures and rates of tax across India would make compliance easier and simple. The effect of GST is going to be far deeper than the tax itself because it will lead to digitization of businesses of India. This will also greatly reduce the human .
