An Overview of GST
Journal Title: International Journal of Business and Management Invention - Year 2017, Vol 6, Issue 12
Abstract
The main objectives of this paper are to know the possibility to decrease in tax cost for business and cost of production, fiscal deficit and their impact on GDP of India, trace out the advantages of GST along with the suggestions to strengthen the mechanism of GST in India. The data collected from the 120 respondents each 40 represents from the auditors,corporate and tax practitioners selected through the convenient sampling technique. The multiple regression analysis applied to infer the results. The study found that 15.5 per cent variation in reduction in fiscal deficit was explained through the various issues of GSTand found that widen the tax basis for promotion of more revenue was more favorable response towards decrease in fiscal deficit and it was followed by the remove the constraints and distortions in an economy, improve the efficiency of distribution and manufacturing activities and eradication of the multiple taxes. The study also identified that GST was more useful for management of tax followed by the optimum utilization of practices and guidelines, allow the hassle free supply of goods, decrease the tax cost for business,possibility to increase the flow of currency and growth in GDP. It is suggested that settle the cases of this act as possible as early, update with the amendments of GST,congruent with the other acts, awareness programmes on various issues of GST, see the speedy redressal of disputes,proposed to transparent services by the commissioners.
Authors and Affiliations
Dr. N VisalakshI1, Dr. K. Kanaka Raju2
Keywords
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