This White Paper on State-level Value Added Tax (VAT) is presented in three parts, To begin with, the justification of VATand its background have been mentioned (Part 1). In Part 2, the main design of VAT, as evolved on the basis of a consensus amongthe States through repeated discussions in the Empowered Committee, has been elaborated, While doing so, it is recognized that this VAT is a State subject and therefore the States will have freedom for appropriate variations consistent with the basic design as agreed upon at the Empowered Committee. Finally, in Part 3, the other related issues have been discussed for effective implementation of VAT.
展开▼
