impact of gst on indian economy
150382275
A Study on Impact of GST on Indian Economy
Goods and Service Tax is an indirect tax levied on the supply of goods and services. GST Law has replaced many indirect tax laws that previously existed in India's is one indirect tax for the entire country. There are 3 taxes applicable under GST: CGST, SGST IGST. GST will mainly remove the Cascading effect on the sale of goods and services. Removal of cascading effect will directly impact the cost of goods. This paper gives an understanding about GST in India its impact on the Indian Economy. The Evolution of GST in India is also discussed in this research paper. The research objectives focus around the evolution of GST, how it works how different sectors are affected by GST.
213049018
Impact of GST on Indian Economy: An Overview
The fact is that Goods and Services Tax (GST) is a single indirect tax for the whole nation which has made many efforts to make India a unified common market. Actually it is a single text on the supply of goods and services right from the manufacturers to the consumers. It is said that it is a great leap to improve Indian taxation system in the wake of economic reforms in India in the recent years. After the implementation of demonetization, the GST was known as a crucial step to boost through new starts ups in the country. It removed bundled indirect taxes such as VAT, CST, Service Tax, CAD, and SAD etc. In other words it has removed tax on tax. When it is compared to the previous tax structure, it proved to be better for the coming years in India in the perspective of economic dimension. Most of the economist and scholars are agree with the fact that in short term it may have some drawbacks but in long run it will surely boost the Indian economy and control the circulation of Black money in the market. Therefore, the expectation of GST in Indian perspective is known to be beneficial and ultimately a lead to rise in the production of goods and services.
N S Ram
212516521
A STUDY OF IMPACT OF GST ON INDIAN ECONOMY
In present scenario in India, the various taxes direct and indirect taxes will be burden on us. To overcome form all this taxation the central government has decided to make one tax system. GST is one of the most critical tax reforms in India which has been long awaiting decision the state and central governments introduced a comprehensive tax system in national market. It is expected to remove the burden of existing indirect tax system and play a vital role in growth of India. This paper presents and shows the impact of GST after its implementation the difference between present taxes and GST Taxes and the benefits and challenges of GST after implementation.
Dr N Renuka
226042496
A Study of Impact and Challenges of GST on Indian Economy
The Introduction of GST on the 1st July 2017 was very significant step in the Indirect Tax Reforms in India. In past few years Indian economy saw many reforms but in which big reforms is LPG(1991)and GST (2017).In India previous tax structure is very complex. Separate taxation for goods and services is neither feasible nor desirable. Previous tax system taxes added each stage and not ITC system available that's effect was more burden of tax on customer and producer. GST abolished this cascading effect; many different taxes subsumed and apply one tax for one nation. As result, this reduces overall cost, benefits to both companies and customers and help to developing economy. Also some disadvantages or losses bear by both. The various factor and sector that have impacted Indian economy. GST is a game changing and effective reform for Indian economy. Also various challenges are coming with introduction of GST.This research paper explores a challenges and impact of GST on various sectors of Indian economy. Also analyze that some positive and negative impact of GST on various factors. It helps to measure the performance of GST in India after implementation from 2017.
Asst Prof Pandurang Bhausaheb Akhade
168765222
IMPACT OF GST ON INDIAN ECONOMY OPPORTUNITIES AND CHALLENGES
This paper deals with the impact of GST (Goods and Service Tax) on Indian economy. Why there was a need for the alteration in tax system from traditional tax structure to GST model. GST (Goods and service tax) is a new spin on VAT(Value Added Tax) which provides an extensive setoff for input tax credit and subsumes seventeen indirect taxes from Central and State level. The concept and need of GST have been discussed in detail in this paper. The execution of a comprehensive system of GST in India is anticipated to direct the efficient distribution of factors of production consequently resulting in gains in GDP and exports. First suggested by Dr.Vijay Kelkar, Chairman of 13th Finance Commission in 2004, it took 13 years for the GST system to turn into a reality. Since its implementation in July 2017, GST has been both appreciated and criticized by both manufacturers and consumers. The paper tries to find out whether it has beneficiary or not, how it affects different sectors of the economy.
Vasundhara Jain Reema Aggarwal
228294434
A Study on Impact of GST on Indian Economy
Vedala Naga Sailaja Sai Kiran Pagadala K Surendra
225455304
A Study on Impact of GST on Indian Financial Market
This work is analysing the impact of the state of India GST colour Tax. Since 1947, GST is the point of GST tax relay idea for functional such as VAT and VAT service tax. Free GST services free for sale Using paint, the colour of the country's tax structure is the result of the Colour of the face of the unit face can be expected to affect the economy. Our supreme lake CGST, SGST IGST media is believed between the design and basic design of eggs that simple. Large income tax, VAT, GST levels and the new Government Country colour, one from Lot one to taxes. They believe in themselves GST Court will benefit the development of the national economy, colour This is to be a market. India is a democratic country, so GST would be carried out in agreement with the government in the governments of the Middle East. In this article, I will discuss the target organization GST colour Therefore, I have a problem that threatens to become the colour of the GST potential increase in free market economy colour Finally, the investigation of the colour 's conclusion. The system issues the new government of India to promote the balance between the colour of the government. This system, the central government, because of the causes of the conflict between the government of the colour of the government. Until a Hollywood state is in the country, carried out by some countries have government states, to issue a prized film is the most popular in India. We have to follow the form of the bureaucracy of the government of politics, which was held in the Service of Colour Taxes, Taxes, Family Chamber of Consumer Products. Indian services marketing the product in colour suggests the introduction of a small central colour industry. In general, the motto: "One nation, Last market rental" colour ed this GST.
Chilla Yashwanthi M Pavani
225111247
Impact of GST on the Indian(General Green) Economy
Goods and Services tax are a really worth worthy step within the field of tax reforms in India. GST could be a comprehensive tax levy on manufacturing, sale, and consumption of products and services at a national level; which leads us one nation, one legal system. During this paper our aim here to discussed how has GST really impacted on the economy of India? .The government to address the (General market or Green market) capacity building amongst the lesserendowed participant, like small windows manufacturers traders under GST.
Ramkrishna Thakur
155730032
IMPACT AND CHALLENGES OF IMPLEMENTATION OF GST ON INDIAN ECONOMY
Vandana Sharma
225836622
Impact of Gst in Multiple Sectors of Indian Economy Tax Analysis
Goods and Service Tax (GST) is a comprehensive indirect tax Act.It was passed in the LokSabha on 29thMarch 2017 and came into effect from 1st July ,2017. GST the biggest tax reform in India founded on the notion of"on nation, one market, one tax" it was mainly implemented to remove all other taxes like VAT (value Added Tax)Excise duty and sales tax. After the enforcement of GST, many sectors faced some positive effects as well as negative effects, the impact of GST has been quite varied on different sectors of the Indian economy. like Manufacturing sectors, Telecommunications, Pharmaceuticals, Automobiles sectors,FMCG sector, Agriculture sectors, Hotel and Food industry, service sector. This Paper brings out about the overview of the concepts of GST and its implications on the various sectors in the Indian economy
S Usha Kiruthika R Gomathi