A Review on Impact of GST on Indian Economy
Bharti Budholiya1, Dr. Santosh Kumar Yadav2
1Research Scholar, Department of Electrical Engineering, RKDF College of Engineering 2Professor, RKDF College of Engineering
Keywords: GST, Goods and services tax, Indian economy, Indirect tax, Innovation implementation, public policy
The Goods and Services Tax (GST) is a comprehensive idea that streamlines the complex tax system while also aiding in a country’s economic development. The Goods and Services Tax (GST) is an all encompassing national tax levied on production, trade, and use. On July 1, 2017, the Goods and Services Tax (GST) was implemented. The reason for the new tax was to consolidate all other forms of indirect taxation into one simple rate. Indirect taxes including central excise tax, service tax, value-added tax, and entertainment tax were all rolled into one with the introduction of GST. This monumental change has made it simpler for Indian people to complete their tax returns than it was before. The effects of GST on the Indian economy are also discussed.
|Vol 1 Issue 1 (2022)|
ISSN : 2583 – 7117