Open AccessImpact of goods and service tax (gst)
Author(s) -
K Nithiya
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.2017.44
Subject(s) - excise , subsidy , business , indirect tax , ad valorem tax , government (linguistics) , goods and services , service (business) , tax reform , payment , value added tax , duty , direct tax , commerce , economics , international economics , public economics , international trade , economy , market economy , finance , macroeconomics , linguistics , philosophy , theology
A tax is not a voluntary payment or donation, but an enforced contribution imposedby government under the names of toll duty, custom, excise, subsidy or other name. The Goods andService Tax (GST) which was introduced from July 2017 by the Government of India is a valueadded tax, which is the only indirect tax that directly affects all sectors and sections of our economy.In this paper I have dealt in detail the impacts of GST, though its various objectives andfeatures in strengthening the Indian economy. Further the impact of Integrated Goods and ServiceTax (IGST),have been discussed at length in benefitting the individuals, importers, exporters andorganization.