Open AccessGst- a biggest tax reforms in india : an overview
Author(s) -
Vijaya Kumar K,
Jagir Hussain H
Publication year - 2017
Publication title -
journal of management and science
Language(s) - English
Resource type - Journals
eISSN - 2250-1819
pISSN - 2249-1260
DOI - 10.26524/jms.2017.33
Subject(s) - tax reform , ad valorem tax , goods and services , indirect tax , independence (probability theory) , government (linguistics) , value added tax , tax revenue , politics , direct tax , revenue , economic policy , tax avoidance , state (computer science) , business , government revenue , public economics , economics , economy , political science , finance , linguistics , statistics , philosophy , mathematics , algorithm , computer science , law
Tax policy of a country plays a vital role on the economy.Direct and indirecttaxes are the main sources of tax revenue for any Government. Goods and Services Tax(GST) is one of the biggest tax reforms in India after independence.This paper present anoverview concept and various tax slabs of GST. It was supposed to be implemented in April2010. But due to political situations in India ,it was implemented in 1st July 2017. The totaltax of GST will be shared equally by both central and respective state governments/unionterritories.