We all know that Indiaâ€™s tax system depends heavily on indirect taxes. Revenue from indirect taxes was the most important source of tax revenue till tax reforms were undertaken during nineties. The major case put forth for important dependence on indirect taxes was that the Indiaâ€™s majority of population was poor and thus widening base of direct taxes had inherent limitations. Amidst economic crisis across the globe, India has posed as a inspiration of hope with motivated growth targets, supported by swing of strategic missions like â€˜Make in Indiaâ€™, â€˜Digital Indiaâ€™, etc. Goods and Services Tax (GST) is expected to provide the much needed refreshment for economic growth in India by transforming the existing basis of indirect taxation towards free flow of goods and services within the economy and also eliminating the cascading effect of tax on tax
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