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India discusses new GST law

  • VAT
  • 19 October 2015 | Richard Asquith

India discusses new GST law

Whilst doubts remain about the implementation date of the new Indian Goods & Services Tax (GST), the state finance ministers have begun to review a draft new law covering compliance and returns.

Delayed GST implementation

Indian GST will replace the antiquated VAT and Service Tax which had proved restrictive to developing an internal manufacturing sector. As the implementing legislation, the Constitution Amendment Bill, is presently on hold due to a dispute between the government and opposition. The means the targeted implementation date of April 2016 will be unlikely.

The draft law has been prepared by the Centre (Delhi central government) and 29 states. There will be discussions shortly between the states’ finance ministers. There will then be a public consultation at the start of November. The states will have to compile local implementing legislation after this point.

VP Global Indirect Tax
Richard Asquith
VP Global Indirect Tax Richard Asquith
Richard Asquith is VP Global Indirect Tax at Avalara, helping businesses understand their compliance obligations as they grow globally. He is part of the European leadership team which this year won International Tax Review's Tax Technology Firm of the Year. Richard qualified as an accountant with KPMG in the UK, and went on to work in Hungary, Russia and France with EY.