Impact of Goods and Service Tax On The Indian Economy
Journal Title: IOSR journal of Business and Management - Year 2018, Vol 20, Issue 12
Abstract
The fundamental objective of Goods and Service Tax is to make uniform the scattered indirect tax system in India and avoid the cascading effect in taxation. The impact going to make by GST will be a transformation in the entire tax system in India. GST becomes a reality today. GST helps in building new India through one nation, one tax and one market. GST - A Boon for households. India is going to experience the major change in the collection of tax after implementing GST. A comprehensive dual Goods and Service Tax has replaced the complex multiple indirect tax structure from 1st July, 2017. The research paper highlights on the economic consequences of GST and its impact on the Indian economy. The research is an exploratory research and the data collection is done mainly from the secondary data. The study found that, GST will widen the tax base, improve tax compliance and will remove unhealthy competition among states.
Authors and Affiliations
Dr. (Smt. ) Rajeshwari M. Shettar
Keywords
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