Decoding The Constitutional Provisions Behind GST

Undisputedly, the core recognition of the 101st Amendment is associated with the introduction of the Goods and Services Tax ('GST') which resulted in subsuming of a number of indirect taxes into a unified GST, levied by the Union Government and the State Governments. Adoption of GST undoubtedly revolutionized the concept of One Nation – One Tax – One Aspiration and seeks to play a pivotal role in catapulting the economic growth of the nation to its fullest potential in the years to come. The earlier system of multiple indirect taxes at different levels of the value chain had started to plague the entire system and clearly GST was a panacea to the same. The GST system has certainly resulted in a much simpler tax eco system as is in vogue currently. In summation this phase of Fiscal Unification was indeed historical. GST is levied on the supply of goods and services or both. It is a single unified indirect, multi-stage, destination-based tax levied on every value