Topic– Indian economy: issues
5) The GST amendment Bill passed recently has ironed out the ambiguities in the newly introduced GST. Examine. (250 words)
Why this question
The article talks about the recent amendments made in GST Law by the GST amendment Bill and how the amendments have an impact on the indirect taxation regime in India. Since GST is one of the most important reforms brought about in recent years, and has recently completed an year in existence, the amendment is important from GS3 perspective.
Key demand of the question
The question expects us to bring out the key changes made in the GST amendment Bill and how it helps in ironing out the issues in GST architecture faced in the last year. Thus we need to bring out the issues faced, and examine whether the amendments helped in ironing out those issues.
Examine – When you are asked to examine, you have to probe deeper into the topic, get into details, and find out the causes or implications if any .
Structure of the answer
Introduction – Explain that GST is one of the most significant reforms introduced and assess its performance over the past year.
- Highlight the amendments made by the Bill – changes made in the tax regime with respect to the unregistered taxpayers, the clarification made with respect to the definition of supply etc
- Discuss the issues faced in the GST regime over the past year – the problems faced by the unregistered taxpayers, the issues with respect to filing of returns etc.
- Highlight whether the amendment would iron out the issues faced
Conclusion – Assess the impact of the amendments and what more needs to be done.