THE GOODS AND SERVICES TAX REGIME IN INDIA: A CONFLUENCE OF LEGAL PRINCIPLES AND PUBLIC POLICY

Abstract

The paper attempts to delineate the concept of goods and service tax [“GST”] and its applicability in India especially in terms of public policy. The paper discusses the history of taxation laws in India with focus on indirect taxes and the various committees formed for this purpose and the subsequent recommendations made by them. The research also compares the bills introduced in the legislature on GST and the subsequent act passed to gauge the legislative intent and their consequences. The following section discusses the role of federalism within GST and how this has channeled the centre-state relations. The researcher has analyzed the role of GST council in the light of the judgment of the Union of India v. M/s Mohit Minerals Pvt. Ltd. to assess how the role of GST council within GST affects the relations between centre and state. The impact GST has had on the various stakeholders has also been made part of the article including the government, the individuals, and across the nation as well. The reasons of alcohol, petroleum not being included within GST have also been explained. The researcher has included the statistical data and its subsequent representations through charts wherever required to substantiate the arguments made. The entire research has been summed up with a suitable conclusion at the end.