Question

2. Enumerate the indirect taxes which have been subsumed in the goods and services tax (GST) in Indi(a) Also, comment on the revenue implications of the GST introduced in India since July 2017.

Answer 1

Approach
Introduction
Introduce the topic with GST
Body
Focus areas for the answer - Enumerate the subsumed taxes. Eg VAT - Write a note on those taxes that havent been subsumed and reasons therein Eg Petroleum and alcoholic goods Advantages of GST in India on the revenue and taxation - GST collection - Impact on Source and Destination states - GST Compensation and Cess - Impact on the common man Write on Concerns related to GST - Laborious accounting - Exemption limit and problems to such companies etc
Conclusion
Conclude with the way forward