Journal of Commerce and Accounting Research

Open Access Open Access  Restricted Access Subscription Access
Open Access Open Access Open Access  Restricted Access Restricted Access Subscription Access

Impacts of Progressive Tax Reform in India:Goods and Services Tax (GST)-An Approach


Affiliations
1 Commerce Santipur College, Santipur, Nadia, West Bengal, India
     

   Subscribe/Renew Journal


The present paper is a brief overview of the introduction of goods and services tax (GST), a progressive tax system and its impacts in India. GST is an indirect taxation that merged multiple taxes into a single tax system. It will eliminate cascading effects and generate revenue for both central and state government. Composition of GST as central goods and services tax (CGST), state goods and services tax (SGST), and integrated goods and services tax (IGST) projects scientific and transparent indirect tax system in India. GST is going to reduce tax leakage and prevent corruption in pricing of products. To implement and control such technology based taxation system since independence, IT industry acts as spinal cord. GST emerged as service based consumption oriented tax in India. Concept of GST, formation of GST council, positive and negative impacts on economy especially on Indian business, foreign investment of the GST are addressed in this study. To present the study, descriptive type of research design on the basis of secondary data is applied. This is a modest attempt to forecast the after effect of GST in India.

Keywords

Goods and Services Tax, Cascading Effect, Tax Leakage, Impacts on Economy.
Subscription Login to verify subscription
User
Notifications
Font Size


  • Devi, S. (2016). Goods and services tax in India: A SWOT analysis. International Journal of Research - Granthaalayah - A Knowledge Repository, 4(12), 188-195.

  • Garg, G. (2014). Basic concepts and features of goods and services tax in India. International Journal of Scientific Research and Management, 2(2), 542-549.

  • Garg, Y., & Gupta, J. (2016). An exploratory study on evolution & implementation of GST in India. 3rd International Conference on Innovative Trends in Science, Engineering and Management, 6(1), 721-725.

  • Kumar, V. (2016). GST: Positive and negavie effects on common man in India. Journal of Commerce & Trade, 11(2), 113-117.

  • Mujalde, S., & Vani, A. (2017). Goods and Services Tax (GST) and its outcome in India. Journal of Madhya Pradesh Economic Association, 27(1), 1-4.

  • Munde, B. M., & Chavan, A (2016). Perspective of GST (Goods and Services Tax) in India. International Journal of Innovative Research in Science, Engineering and Technology, 5(11), 19125-19128.

  • Praharaj, A. (2017). GST - Advantages & disadvantages for startups and tiny businesses in India. International Journal of Commerce, Business and Management, 6(1), 30-40.

  • Prajapati, H. K. (2016). Challenges and implementation of GST (Goods and Services Tax) in India. Paripex- Indian Journal of Research, 5(7), 96-98.

  • Shaik, S., Samira, S. A., & Firoz, S. C. (2015). Does Goods and Services Tax (GST) leads to Indian economic development?. IOSR Journal of Business Management, 17(12), 1-5.

  • Siddiqui, M. A (2016). Goods and service tax: An advantage for Indian economy. International Journal of Business Quantitative Economics and Applied Management Research, 3(5), 48-54.

  • Tanwar, R. (2014). An analytical study of the relevance of Arthshastra in modern India. IOSR Journal of Economics and Finance, 5(3), 32-35.

  • http://www.cleartax.in/s/gst-rates.

  • http://www.dor.gov.in>default>files>GST-FAQ.

  • http://www.gstindia.com

  • http://www.pradhanmantriyojna.in>gst>-bill-explained/

  • http://www.raybiztech.com/services/ITservices/about-gst-and-its-implementation.

  • http://www.startupchoice.com/blog/gst-in-India-how-will-it-affect-Indian-business/amp.


Abstract Views: 308

PDF Views: 0




  • Impacts of Progressive Tax Reform in India:Goods and Services Tax (GST)-An Approach

Abstract Views: 308  |  PDF Views: 0

Authors

Nabendu Basak
Commerce Santipur College, Santipur, Nadia, West Bengal, India

Abstract


The present paper is a brief overview of the introduction of goods and services tax (GST), a progressive tax system and its impacts in India. GST is an indirect taxation that merged multiple taxes into a single tax system. It will eliminate cascading effects and generate revenue for both central and state government. Composition of GST as central goods and services tax (CGST), state goods and services tax (SGST), and integrated goods and services tax (IGST) projects scientific and transparent indirect tax system in India. GST is going to reduce tax leakage and prevent corruption in pricing of products. To implement and control such technology based taxation system since independence, IT industry acts as spinal cord. GST emerged as service based consumption oriented tax in India. Concept of GST, formation of GST council, positive and negative impacts on economy especially on Indian business, foreign investment of the GST are addressed in this study. To present the study, descriptive type of research design on the basis of secondary data is applied. This is a modest attempt to forecast the after effect of GST in India.

Keywords


Goods and Services Tax, Cascading Effect, Tax Leakage, Impacts on Economy.

References