Open AccessTops and gst toes in
Author(s) -
Surya Sankar,
Sudhakar Pandurangan
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.2017.45
Subject(s) - tops , commission , state (computer science) , consumption (sociology) , agricultural economics , production (economics) , commerce , business , economics , political science , finance , engineering , art , computer science , macroeconomics , aesthetics , mechanical engineering , spinning , algorithm
India has chosen the Canadian model of dual GST. For the past 70 years, India‘seconomy has been funded by invisible money. Elected representatives, governments, politicalparties, and the election commission completely failed in checking it. The big thing thatpeople have not seen from a data perspective is - the recent launch of the goods and servicestax. A lot of focus has been on the challenges, but actually it is a fantastic data issue. For thefirst time eight million businesses will be digitally recorded in a central tax database.In theGST system, taxes for both Centre and State will be collected at the point of sale. Both willbe charged on the manufacturing cost. Individuals will be benefited by this as prices arelikely to come down and lower prices and more consumption more production, therebyhelpinginthegrowthofthecompanies.