A STUDY OF THE POLICIES, PROGRAMMES, INSTITUTIONAL NETWORKS IMPLEMENTING OF GST: A CASE STUDY OF ANDHRA PRADESH

Dr. T. CHENNAKESAVULU

Volume : VII, Issue : XI, November - 2018

A STUDY OF THE POLICIES, PROGRAMMES, INSTITUTIONAL NETWORKS IMPLEMENTING OF GST: A CASE STUDY OF ANDHRA PRADESH

Dr. T. Chennakesavulu

Abstract :

Entrepreneurship is a rapidly rising concern of a modern competitive economy and its contribution in economy is viably recognized worldwide. It is the purposeful activity of an individual or a group of associated individuals, undertaken to initiate, maintain or organize a profit oriented business unit for the production or distribution of economic goods and services. Among all the reforms in India in the last few years the goods and services tax is one that has generated much interest in recent times and has the potential to help in increasing the ease of doing business in the country. In keeping with the federal structure of the country, a GST council was set up with the representatives from both centre and state to formulate a GST structure where both centre and state governments will have the power of levying and collecting tax in the GST regime. International experience has shown that GST helps in improving the economy in the long run. Important stakeholders like the business, government and consumer sectors stand to gain under the GST regime. Goods and Services Tax (GST) will give a boost to Indian economy and also help the entrepreneurs to become stable in Indian Market. GST will help in streamline of the business and create a common market for the whole country. It will help entrepreneurs to focus on their business rather than being worried about tax compliances. GST is set to benefit entrepreneurs of all kind, with a transformational shift in the indirect tax administration in India. This paper focuses to highlight the main points of GST and its working and impact on entrepreneurship and business.