First session of Goods and service tax (GST) bills got finished. Hope the next session will be started in November, 2016. But the most important issues are disappeared till now. Let’s have little talk on these issues.
Standard rate of GST is one of the most serious issue. Rate of tax is most important part for any law related to tax. The rate of tax must be specifies in any type of tax like service tax or the maximum rate must be described so that no government can supersede it. The standard rate of tax must be applicable in GST also. Now the question arise what will be the STANDARD RATE?
GST can be applicable without any difficulty but the condition is that the government must communicate and work in unity.