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VOL. 10, ISSUE 6 (2024)
A post covid-19 study of India’s foreign trade and the GST framework
Authors
Dr. Amar Ranjan Dey
Abstract
On 1st July, 2017 India become the
160th country to introduce Goods and Service Tax (GST) globally.
Introduction of this new form of indirect tax, GST, significantly impacted
international trade by altering the structure of import and export taxation and
replacing various indirect taxes and exemptions. The Central Government had
announced the Foreign Trade Policy for a 5-year term from April, 2015 to March
31, 2020, with a provision for a mid-term review to the assess and modify the
policy as required. Even before the onset of the Covid-19 global pandemic,
India faced challenges in achieving its GST revenue collection targets. The
Covid-19 pandemic caused severe disruptions to global trade, including in
India, leading to economic shock that were even more profound than those experienced
during 2008-09 financial crisis, which saw a 0.1% contraction in global GDP.
This paper seeks to examine the post-Covid-19 impact on India’s foreign trade
and the GST framework.
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Pages:69-72
How to cite this article:
Dr. Amar Ranjan Dey "A post covid-19 study of India’s foreign trade and the GST framework". International Journal of Commerce and Management Research, Vol 10, Issue 6, 2024, Pages 69-72
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