Open AccessImpact of gst after its implementation
Author(s) -
A Sivakumar
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.2017.55
Subject(s) - indirect tax , government (linguistics) , goods and services , tax reform , value added tax , ad valorem tax , economics , business , public economics , economic policy , economy , linguistics , philosophy
Goods and Services Tax is defined as the giant indirect tax structure designed to support andenhance the economic growth of a country. More than 150 countries have implemented GST so far.However, the idea of GST in India was mooted by Vajpayee government in 2000 and theconstitutional amendment for the same was passed by the Loksabha on 6th May 2015 but is yet tobe ratified by the Rajyasabha. However, there is a huge hue and cry against its implementation. Thepurpose of GST is to replace all these taxes with single comprehensive tax, bringing it all undersingle umbrella. The purpose is to eliminate tax on tax.