International Journal of Commerce and Management Research

Authors
Ganesh S Hosapeti

Abstract
The GST is a destination based comprehensive tax levy on manufacture, sale and consumption of goods and services at national level. The introduction of GST in India would be a significant step in the field of indirect tax reforms in India. By subsuming large number of central and state taxes into single tax. GST is long term strategy; it is expected to lead a higher growth, output, more employment opportunities and economic inclusion. The primary objective of the GST in India to subsume all sorts of indirect taxes in India. GST based taxation system brings more transparency and better compliance in taxation system. The GST is an indirect tax (or consumption tax) levied on the supply of goods and services. GST is levied on every step of the production process. But is meant to be refunded to all parties in the various stages production other than the final consumers.