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Indian GST update

  • Jul 8, 2016 | Richard Asquith

Indian GST update

Discussions between the governing BJP and opposition Congress parties are continuing as both sides look to solve the last issues to secure an implementation of the new indirect tax in 2017.

Congress has blocked the progress of the Constitutional Amendment Bill, which would introduce GST to replace VAT, CENVAT, Service Tax and others. The party is looking for an 18% cap on the proposed standard GST rate. This would include the removal of an additional 1% levy to be paid to states that may lose revenues. The party also wants clarification on the disputes procedures between Indian states set to lose or win with the new regime.

A number of Congress states have now backed the Bill, meaning the party is losing support in Parliament.

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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.