International Journal of Academic Research and Development

International Journal of Academic Research and Development


International Journal of Academic Research and Development
International Journal of Academic Research and Development
Vol. 2, Issue 5 (2017)

GST: The future of Indian economy


Dr. SK Chaudhary

The most path-breaking amendment to the Indian taxation system in the recent past can be indicated towards nothing other than the introduction of the Goods & Services Tax or GST in common. After huge debates and discussion, GST finally has come to be implemented in India and it has to achieve a lot more than any other amendment to the taxation structure. This is because it replaces all other forms of indirect taxes that were levied by the Central as well as the various State Governments and it is placed as the whole and soul of the economy as taxes in relation to transaction of all goods and services are to be paid in the form of GST. This occupies a prominent position as a significant amount of government revenue accrued from the indirect taxes, and hence, if GST fails, the economic hardship that the economy will have to undergo will be beyond repairs. The GST has been aptly regarded as the future of the Indian economy as it has the ability to foster great progress, growth and development in the economy because of its various unique features and more importantly, its far-reaching effects on the economy. The paper provides a clear idea about the concept of GST and throws ample amount of light upon its features and advantages which makes it the future of the Indian economy in the true sense.
Download  |  Pages : 08-10
How to cite this article:
Dr. SK Chaudhary. GST: The future of Indian economy. International Journal of Academic Research and Development, Volume 2, Issue 5, 2017, Pages 08-10
International Journal of Academic Research and Development International Journal of Academic Research and Development