GST IN INDIA: AN OVERVIEW

Authors

  • Dr.R.Rupa Associate Professor SCMS School of Technology and Management SCMS Campus, Prathap nagar Muttom, Aluva Cochin – 683 106

Keywords:

GST in india, Goods and service tax, models of GST, Indirect tax

Abstract

Traditionally India’s tax regime relied heavily on indirect taxes. Revenue from indirect taxes was the major source of tax revenue till tax reforms were undertaken during nineties. The major argument put forth for heavy reliance on indirect taxes was that the India’s majority of population was poor and thus widening base of direct taxes had inherent limitations. But the Indian system of indirect taxation is characterized by cascading, distorting tax on production of goods and services which leads to hampering productivity and slower economic growth. There are endless taxes in present system few levied by Centre and rest levied by state, to remove this multiplicity of taxes and reducing the burden of the tax payer a simple tax is required and that is Goods and Service Tax (GST). This paper throws an insight into the Goods and Service Tax concept, advantages, disadvantages and international scenario.

References

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Additional Files

Published

15-02-2017

How to Cite

Dr.R.Rupa. (2017). GST IN INDIA: AN OVERVIEW. International Education and Research Journal (IERJ), 3(2). Retrieved from http://ierj.in/journal/index.php/ierj/article/view/675