Dr M. Govinda Rao is a Member of the Fourteenth Finance Commission, Government of India. Prior to this, he was the Director of National Institute of Public Finance and Policy (2003-13). Dr Rao was also a Member of the Economic Advisory Council to the Prime Minister; Member of Financial Sector Legislative Reforms Commission; Member, High Level Expert Committee on Universal Health Coverage; Member, High Level Expert Committee on Efficient Management of Public Expenditure; Member, Advisory Group of Eminent persons to advise the Finance Minister on G-20 matters.
Goods and Services Tax in India: Challenges and prospects
25 Aug 2014
The Finance Ministry recently announced that the Goods and Services Tax will soon be a reality. In this article, M. Govinda Rao – member of the 14th Finance Commission – discusses the challenges and prospects of transitioning to GST. He contends that given the multitude of stakeholders and contentious issues involved in the negotiations, finalising and operationalising the tax structure will take time, and that it is unrealistic to expect a “flawless” GST.
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