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Abstract

GST is one of the most crucial tax reforms in India which has been the long pending bill. This has to come across the various hurdle to get implemented in 2017, April session. It is a uniform tax system for the overall country which subsumes all the indirect tax which is presently existing, whereby to put an umbrella tax procedure in a country. It is expected to be impact the economy and reduce price to the consumer, also the overall burden of end user. In India GST will be implemented in two components Central Goods and Services Tax (CGST) and State Goods and Services Tax (SGST), in the former case center would levy and collect and in the later states would levy and collect on all transactions within a state. In case of inter-state transactions, the center would levy and collect the integrated Goods and Services Tax (IGST).However certain industries benefit from the implementation of this if not all, also the expectation is this will showcase our international trade because of the common tax regime.

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How to Cite
SaiSaranya S. (2019). Impact on Gst in Indian Economy. Thematics Journal of Geography, 8(12), 721-727. Retrieved from https://thematicsjournals.org/index.php/tjg/article/view/15394