Background Material on GST Acts and Rules The Institute of Chartered Accountants of India (Set up by an Act of Parliament) New Delhi © The Institute of Chartered Accountants of India All rights reserved. No part of this publication may be reproduced, stored in a retrieval system, or transmitted, in any form, or by any means, electronic, mechanical, photocopying, recording, or otherwise without prior permission, in writing, from the publisher. DISCLAIMER: The views expressed in this book are of the author(s). The Institute of Chartered Accountants of India may not necessarily subscribe to the views expressed by the author(s). The information cited in this book has been drawn primarily from the www.cbec.gov.in and other sources. While every effort has been made to keep the information cited in this book error free, the Institute or any office of the same does not take the responsibility for any typographical or clerical error which may have crept in while compiling the information provided in this book. First Edition : May, 2017 Second Edition : September, 2017 Revised Edition : January 2018 Committee/Department : Indirect Taxes Committee E-mail :
[email protected] Website : www.icai.org; www.idtc.icai.org Price : e-publication ISBN : 978-81-8441-869-9 Published by : The Publication Department on behalf of the Institute of Chartered Accountants of India, ICAI Bhawan, Post Box No. 7100, Indraprastha Marg, New Delhi - 110 002. Foreword Implementation of Goods and Services Tax (GST) in India is one of the major economic reforms. GST aims to make India a common market with common tax rates and procedures and remove the economic barriers thus, paving the way for an integrated economy at the national level.