International Journal of Applied Research
Vol. 3, Issue 4, Part B (2017)
Goods and services tax (The renaissance in Indian taxation)
Goods and services tax which is ought to replace the indirect tax is considered the major tax reform in Indian economy. It can easily eliminate all the burden of cascading effect in our indirect tax system by which the procedure of levying tax become simpler and easily understood by the general public. These reforms have the positive vibes to improve our GDP, Improve our exports, creating a strong robust structure of small and medium enterprises for domestic usage and their by boost our countries economy on which countries prosperity depends up on. As goods and services tax soon arriving which is considers being much awaited tax reform in India taxation system. This report presents our current under standings on how GST operates in India, about GST council and its power, about GST network and how it’s going to work in India, what are its major cause of concerns and what effects does it make in the taxation are studied and thereby its merits and demerits are proposed on the basis of our observation.
How to cite this article:
Praveen Kumar S, Devasish Prasanth P, Nanda Kumar K. Goods and services tax (The renaissance in Indian taxation). Int J Appl Res 2017;3(4):91-96.