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			<div style="margin-left:32px; text-align:center"><span style="font-size:28px"><strong>ISSUES</strong></span></div>
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			<div style="margin-left:28px; text-align:center"><span style="font-size:28px"><strong>Earlier Indirect Tax Law</strong></span></div>
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			<div style="margin-left:43px; text-align:center"><span style="font-size:28px"><strong>GST law</strong></span></div>
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			<div style="text-align:center">&nbsp;</div>

			<div style="text-align:center">&nbsp;</div>

			<div style="margin-left:8px; text-align:center"><span style="font-size:28px"><strong><span style="color:#212121">Broad scheme</span></strong></span></div>
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			<div style="margin-left:8px; margin-right:18px; text-align:center"><span style="font-size:28px"><span style="color:#212121">There are separate laws for separate levy.</span></span></div>

			<div style="margin-left:8px; margin-right:18px; text-align:center"><span style="font-size:28px">&nbsp;<span style="color:#212121">For e.g. Central Excise Act, 1944, respective State VAT laws.</span></span></div>
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			<div style="margin-left:8px; margin-right:22px; text-align:center"><span style="font-size:28px"><span style="color:#212121">GST shall subsume various taxes as follow.</span></span></div>

			<div style="margin-left:8px; margin-right:22px; text-align:center"><span style="font-size:28px"><span style="color:#212121">Eg. Service tax, Vat, Excise, Surcharge &amp; cess, luxury tax, entry tax, CVD &amp; SAD.</span></span></div>
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			<div style="text-align:center">&nbsp;</div>

			<div style="margin-left:8px; text-align:center"><span style="font-size:28px"><strong><span style="color:#212121">Tax rates</span></strong></span></div>
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			<div style="margin-left:8px; text-align:center"><span style="font-size:28px"><span style="color:#212121">There are separate rates. For</span></span></div>

			<div style="margin-left:8px; margin-right:37px; text-align:center"><span style="font-size:28px"><span style="color:#212121">e.g. Excise 12.36 % and Service Tax 14%.</span></span></div>
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			<div style="margin-left:8px; margin-right:18px; text-align:center"><span style="font-size:28px"><span style="color:#212121">There will be one CGST rate and a uniform rate of SGST across all states.</span></span></div>
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			<div style="text-align:center">&nbsp;</div>

			<div style="margin-left:8px; margin-right:40px; text-align:center"><span style="font-size:28px"><strong><span style="color:#212121">Cascading effect</span></strong></span></div>
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			<div style="margin-left:8px; margin-right:8px; text-align:center"><span style="font-size:28px"><span style="color:#212121">This Problem arises because credit of CST and many other taxes not allowed.</span></span></div>
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			<div style="margin-left:8px; margin-right:31px; text-align:center"><span style="font-size:28px"><span style="color:#212121">This situation will not arise in GST.</span></span></div>

			<div style="margin-left:8px; margin-right:31px; text-align:center"><span style="font-size:28px"><span style="color:#212121">In GST law ITC of GST taxes in allowed.</span></span></div>

			<div style="margin-left:8px; margin-right:31px; text-align:center"><span style="font-size:28px"><span style="color:#212121">- concept of cascading effect is eliminated with introduction of IGST.</span></span></div>
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			<div style="text-align:center"><span style="font-size:28px"><strong><span style="color:#212121">Tax burden</span></strong></span></div>
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			<div style="margin-right:8px; text-align:center"><span style="font-size:28px"><span style="color:#212121">Under present scenario, tax burden on tax payer is high.</span></span></div>
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			<div style="margin-left:8px; margin-right:31px; text-align:center"><span style="font-size:28px"><span style="color:#212121">Under this, tax burden is expected to reduce since all taxes are integrated </span></span></div>
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			<div style="text-align:center">&nbsp;</div>

			<div style="text-align:center"><span style="font-size:28px"><strong><span style="color:#212121">Cost Burden on Consumers</span></strong></span></div>
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			<div style="margin-left:8px; margin-right:8px; text-align:center"><span style="font-size:28px"><span style="color:#212121">Due to presence of cascading effect, certain taxes become part of cost.</span></span></div>
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			<div style="margin-left:8px; margin-right:31px; text-align:center"><span style="font-size:28px"><span style="color:#212121">As GST mechanism removes such effect by providing credit, cost burden is reduced.</span></span></div>
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			<div style="text-align:center">&nbsp;</div>

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			<div style="text-align:center"><span style="font-size:28px"><strong><span style="color:#212121">Concurrent<strong> </strong>Power</span></strong></span></div>
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			<div style="margin-left:8px; margin-right:8px; text-align:center"><span style="font-size:28px"><span style="color:#212121">At present, there is no such power to both Centre and State on same subject tax matter</span></span></div>
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			<div style="margin-left:8px; margin-right:31px; text-align:center"><span style="font-size:28px"><span style="color:#212121">Both Centre and State are vested with the power to make law on GST by virtue of proposed Article 246A of the Constitution</span></span></div>
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			<div style="text-align:center"><span style="font-size:28px"><strong><span style="color:#212121">Compliance</span></strong></span></div>
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			<div style="margin-left:8px; margin-right:8px; text-align:center"><span style="font-size:28px"><span style="color:#212121">Tax compliance is complex. because of multiplicity of laws and their provisions to be followed.</span></span></div>
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			<div style="margin-left:8px; margin-right:31px; text-align:center"><span style="font-size:28px"><span style="color:#212121">Tax compliance would be easier as only one law subsuming other taxes need to be followed</span></span></div>
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			<div style="text-align:center">&nbsp;</div>

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			<div style="text-align:center"><span style="font-size:28px"><strong><span style="color:#212121">Transparent Tax Administration</span></strong></span></div>
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			<div style="margin-left:11px; margin-right:14px; text-align:center"><span style="font-size:28px"><span style="color:#212121">Presently, tax is levied at two stages in broad manner</span></span></div>

			<div style="margin-left:8px; margin-right:8px; text-align:center"><span style="font-size:28px"><span style="color:#212121">i.e. 1. When product moves out of factory. </span></span></div>

			<div style="margin-left:8px; margin-right:8px; text-align:center"><span style="font-size:28px"><span style="color:#212121">2. At retail outlet.</span></span></div>
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			<div style="margin-left:8px; margin-right:31px; text-align:center"><span style="font-size:28px"><span style="color:#212121">GST is to be levied only at final destination of consumption and not at various points.</span></span></div>

			<div style="margin-left:8px; margin-right:31px; text-align:center"><span style="font-size:28px"><span style="color:#212121">&nbsp;This brings more transparency and corruption free tax administration.</span></span></div>
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