MC

Current Trends in Science and Technology

an Open Access Publication ISSN: 0976-9730 | 0976-9498

Management and Economics

GST in India: Prospects and Challenges

Kedar Nath Mahto, Niraj Dhar Dubey,Sumit Kumar Gupta, Dr. Ajit Kumar
1, 2,3Research Scholar Vinoba Bhave University Hazarib P.K.R.M. College Dhanbad 4Assistant Professor Vinoba Bhave University Hazarib P.K.R.M. College Dhanbad
Online First: October 28, 2017
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Abstract

We all know that India’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 India’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 ‘Make in India’, ‘Digital India’, 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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Oct 28, 2017
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Oct 28, 2017
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