"“REVIEW ON GOODS AND SERVICES TAX (GST) IN INDIABENEFITS AND ITS IMPACT”"

Authors

Ms. Rajni, Research Scholar
Economics Department, RIMT University, Mandi Gobindgarh, Punjab.

Abstract

Over the centuries structure of taxation has been shaped and reshaped to make it acceptable, effective and efficient. The voyage of restructuring the tax system has been going on to make it more and more meaningful. Goods and Services Tax (GST) is considered to be a finest clarification for all these issues and which is likely to bring in tax efficiency, simplicity, transparency and degree of synchronization to the tax base, tax rates as well as tax infrastructure. More than 160 countries around the world have already implemented GST and implementation of GST in India would bring in resemblance. Now, accomplishment of GST has become certain in India and it is a right time to understand it. This paper tries to throw radiance on different aspects of GST and to know its probable impact on Indian economy, India sales tax rate-GST, GDP growth.