GST: Impact on Indian Economy
Journal Title: International Journal of engineering Research and Applications - Year 2018, Vol 8, Issue 1
Abstract
GST stands for “Goods and Services Tax” implemented by the Government of India since 1st April, 2017 this year. Its introduction by the Constitution (One hundred and First Amendments) Act, 2016 was considered to be one of the most crucial steps in the field of indirect tax reform structure of India. Therefore, GST was defined as a comprehensive consumption based tax levied upon manufacture, sale and consumption of goods as well as services which helped in transforming the country into one unified common market. Many inexplicit arguments were raised about GST after its implementation. The research paper will throw light on how Goods and Services Tax (GST) would help in reducing the existing complexity of taxes in India as it subsumes Value Added Tax (VAT), Excise Duty, Service Tax and Sales tax. The first part of the paper is the introductory part. Second part of the paper will discuss the effect of GST on Indian economy. Finally the last section will focus on conclusion part of the paper.
Authors and Affiliations
Pallavi Kapila
Keywords
Related Articles
- EP ID EP393325
- DOI 10.9790/9622-0801010103.
- Views 108
- Downloads 0
Effects of Hemp Flour, Seeds And Oil Additions on Bread Quality
The minerals, dietary fibers and essential fatty acids of several hemp products (flour, seeds and oil) represent valuable compounds sources that could transform the bread in a functional food. The aim of this work was ev...
Analysis of Payment Card Industry Data Security Standard [PCI DSS] Compliance by Confluence of COBIT 5 Framework
The Payment Card Industry Data Security Standard (PCI DSS) aims to enhance the security of cardholder data and is required when cardholder data or authentication data are stored, processed or transmitted. The implementat...
Six Sigma Methods and Formulas for Successful Quality Management
This paper discusses the Methods of Six Sigma and its applications used in project management.
Re (Cell) LCD: A Feasibility Study On Recycling Cell Phone LCDS
Liquid Crystal Displays (LCD) are used in a magnitude of devices and have now become the norm in products that require a screen, such as, cell phones, computers, televisions, tablets, and more. However, many of these tec...
An Analysis of the Effect of Heat Transfer on Internal Combustion Engines
In this paper, the temperature and nitric oxide concentrations are predicted using a numerical approach. The main application of this method is for the internal combustion engines. The predictions are made with the help...