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As you may be aware, Goods and Services Tax (GST) is expected to be introduced in India. In this regard, 122nd Constitution Amendment (GST) Bill, 2014 has been passed in Lok Sabha on 6th May 2015 and, the bill awaits a nod from Rajya Sabha. After the Introduction of GST, Indian Economy would witness implementation of most radical tax reform which would integrate various existing taxes into a single unified tax.
Being a member of the GST research/study group of Indirect Tax Committee of the ICAI, I pleased to share with you Discussion Paper on probable key transitional issue in proposed GST Regime (Attached below in PDF) related to transition to GST from the present regime of taxation for forthcoming GST regime.
Pl. provide your valuable suggestion on the same, if any.