GST impact: Manufacturing key winner, telecom likely to be worse off

The realisation of a common indirect tax is critical for the semblance of a common Indian market

Termed as one of the biggest reforms of India’s complicated indirect tax base since 1991, the passage of the Constitution Amendment Bill, enabling the introduction of the Goods and Services Tax (GST) seems to have become a reality at last. On March 29, 2017, with the passing of four bills related to different aspects of the GST via the Lok Sabha, the Indian parliamentary system has demonstrated a strong will for enhancing cooperative federalism by signing off on a ‘pooling of sovereignty’ in taxation matters applicable for all 32 states.

The realisation of a common indirect tax, like the GST is