In this article, an attempt has been made to cover several areas of professional opportunities for members in indirect tax practice. It will be of interest to note that while this publication is being released when goods and services are subject to several stages of indirect taxation
The word Levy in the common parlance means charge or imposition or collection of tax by authority. For the purpose of collecting tax, the authority should have powers to levy such tax. The Constitution of India in Article 265 sets out that no tax shall be collected without authority of law.1
With the passage of the Constitution (122nd Amendment) Bill, 2014, (popularly known as GST Bill) in Parliament, a uniform indirect tax regime across India is one step closer to the reality. The amendments to the GST Bill as passed by Rajya Sabha have also been adopted by the Lower House on 8th August 2016.
