Implementation of the Goods and Services Tax (GST) and bridging large infrastructure deficit are a difficult task before the Indian government, Moody's Investors Service said today. In a report, Moody's said a history of double-digit inflation, elevated government debt, weak infrastructure and a complex regulatory regime have constrained India's credit profile.As a positive, Moody's noted that easing of constraints on investment coupled with RBI's inflation targeting and ongoing efforts to clean up bank balance sheets could propel growth. Moody's has a 'positive' outlook on its 'BAA3' rating on India. Agency's positive outlook on India's rating is based on its expectation of continued but gradual policy efforts to reduce sovereign risks posed by high fiscal deficits, volatile inflation and weak bank balance sheets.Indirect tax reform GST is currently stuck in the Rajya Sabha where the ruling NDA does not enjoy a majority. A single rate GST will replace central excise, state VAT, entertainment tax, octroi, entry tax, luxury tax and purchase tax on goods and services to ensure seamless transfer of goods and services.