Goods and services tax (GST) in India and its impact on Indian economy
Dr. Neerja Devi
In India’s there are multiplied taxes which create problems for businesses as well as consumers. India is a country where we found complex tax structure. Present ruling govt. has given more emphasis on the implement of GST bill. The study described how GST will help to govt. and business. And also explained how GST reduces the cost of goods and services. By amalgamating a large number of central and state taxes into a single tax and allowing set-off of prior-stage taxes, it would mitigate the ill effects of cascading and pave the way for common national market. Some of them gave positive responds and some othersgave negative feedbacks as the implementation has resulted in higher prices for goods and services and thus this tax may cause burder to people. GST will have widespread ramification on the economy, be it manufacturing sector or service sector. All the players of the commercial sphere be it trades, manufactures or service providers are equally being affected by the introduction of GST.