Volume : IX, Issue : V, May - 2020
GST: A VISION FOR INDIAN ECONOMY
Diviani Singla
Abstract :
Taxes are life blood for government revenue without which the functioning of government cannot run smoothly. Thus, to achieve this objective India’s tax system relied heavily on various taxes. It includes both Direct and Indirect Taxes. Revenue from Indirect taxes is the major source of tax revenue as majority of India’s population is poor and thus, widening base of direct taxes had inherent limitation. The past system of Indirect tax was multi–layered and hence leads to cascading of tax. After a long wait, Goods and Service Tax (GST) was implemented on 01.07.2017 and it is the biggest tax reform in Indian history. This research paper highlights the concept & history of GST, causes to implement GST in India, SWOT analysis of GST, Differentiate the present GST structure with the past tax structure and also highlights the impact of GST on various sectors of Indian Economy.
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DOI : https://www.doi.org/10.36106/paripex
Cite This Article:
GST: A VISION FOR INDIAN ECONOMY, Diviani Singla PARIPEX-INDIAN JOURNAL OF RESEARCH : Volume-9 | Issue-5 | May-2020
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GST: A VISION FOR INDIAN ECONOMY, Diviani Singla PARIPEX-INDIAN JOURNAL OF RESEARCH : Volume-9 | Issue-5 | May-2020