Impact of Goods and Services Tax in India

Authors

  • Dr. Priyanka Kadyan Government College, Israna Panipat

Keywords:

GST, economy, goods and services tax, indirect tax

Abstract

Goods and Services Tax is an exhaustive expense required on production, trade
and utilization of merchandise and ventures. GST is named as the greatest
expense change in Indian Tax Structure. In the present situation we pay
different charges i.e. Direct and Indirect assessments, which are felt as load on
us and due to these duties the defilement is expanding. In this way, to
overcome these problems arising from tax collection framework the Central
Government has chosen to make one assessment framework i.e. Goods and
Services Tax (GST). The reason for GST is to supplant all these charges with
single extensive duty, presenting everything under single umbrella. It is relied
upon to evacuate weight of existing indirect duty framework and assume an
imperative part in development of India. GST incorporates all Indirect Taxes
which will help in development of economy and turns out to be more valuable
than the current assessment framework. GST will likewise quicken the general
Gross Domestic Product (GDP) of the nation. The reason for its existence is to
eradicate charge on tax. This paper will expose the GST and its highlights and
furthermore impact of GST on costs of the products and Enterprises

Additional Files

Published

2020-01-02

How to Cite

Dr. Priyanka Kadyan. (2020). Impact of Goods and Services Tax in India. BRICS JOURNAL OF EDUCATIONAL RESEARCH, 10(1&2), 8-10. Retrieved from https://www.bricsjer.com/index.php/brics/article/view/127