India has finally passed the Constitutional Amendment Bill paving way for the long-pending goods & services tax bill. It will replace 14 older indirect taxes and is expected to boost tax revenue (Research: Saloni Kamboj & Saurabh Goenka)
The one GST will replace 15 different central and state taxes. Broken down--that means you will now pay the same amount of tax each time you walk into a restaurant?--no matter where in the country it might be.
The implementation of GST has led to an increase in tax revenue in anumber of countries. That should mean the government will have moremoney to spend on infrastructure, public health and education, and ofcourse India's much-touted 'development'.