Speaker: Prof. Pinaki Chakraborty, Director, National Institute of Public Finance and Policy

The 122nd Constitution Amendment has paved the way for implementation of GST. GST would be a levy imposed by both the Union and State Governments. It is expected to subsume major indirect taxes in the country to provide a simple tax regime which should help develop a common market for India. The ultimate benefit of GST however would depend on the design of the tax which in turn is dependent on various provisions of the GST Bill and functioning of the GST Council.