Rupak De Chowdhuri / Reuters
The last couple of months have seen unprecedented activity in the corridors of the Finance Ministry, the North Block, around the various meeting rooms of India Inc and on the Twitter feed of Dr. Subra...
Nongkran_ch via Getty Images
It's been raining hallelujahs all over the country ever since Parliament passed the GST Bill on Wednesday. There is much exultation about a uniform tax platform which will be beneficial to growth, provide uniformity in compliance, and herald an all-round seamless structure in all matters tax. How much of this is actually true, though, lies in the finer points of the impact of the GST on the average consumer (that's us) and the GDP of the country.
The Goods and Service Tax Network (GSTN) has awarded a contract worth ₹1380 crore to Infosys Technologies to build a system which will be the IT interface for implementing the GST. This interface will take care of harnessing the entire input credit system, the Permanent Account Number (PAN)-based registrations, compliance requirements, tax payments etc and will be the nerve centre for the entire GST levy.