Varying degrees of success in implementation of GST in various nations makes it crucial for the Centre to be prepared for possible challenges which may crop up after July 1. Varying degrees of success in implementation of GST in various nations makes it crucial for the Centre to be prepared for possible challenges which may crop up after July 1. Approximately 160 countries across the world have some form of value added tax (VAT) or goods and services tax (GST). Last month, the Reserve Bank of India (RBI) released a report stating that international experience points to some risks — related to tax evasion and avoidance — which are likely to come alive post GST implementation. The effective veto that Australian states and the commonwealth enjoys makes any GST reform difficult to achieve,” the RBI noted.

Source: Indian Express June 27, 2017 20:48 UTC