08 June 2017
official purpose to remove tens of taxes by subsuming them into one tax ie GST. So you wont have excise, VAT, service tax, octroi etc - just GST. This is expected to simplify indirect taxation, boost business etc
However, given the way you already have 10 different rates, input credit similar to state vat and central vat, not sure how much convenience it will lead to.
CAclubindia
