Eye Share: The Impersonal Side of Personal Consumption

GST legislation, in its present form, has disfigured the mirage of perfect VAT law and it has only reduced and not removed those inefficiencies. Section 17(5) of CGST Act, the ‘hypocentre’ of the cascading tax structure, deals with procurements for which credit is not available to the assessee.The author Sourabh Kotecha (Assistant Manager in Indirect Tax Department of a Fortune 500 Company), draws comparison between CENVAT Credit Rules and GST provisions in resp...