Vol. 7 No. 2 (2017): Vol 7, Iss 2, Year 2017
Articles

Impact of gst in india

NAMASIVAYAM
PROFESSOR AND HEAD DEPARTMENT OF COMMERCE (BPS), DR. N.G.P. ARTS AND SCIENCE COLLEGE, COIMBATORE
SRI PADMA ABIRAMI P
ASSISTANT PROFESSOR DEPARTMENT OF COMMERCE (BPS), DR. N.G.P. ARTS AND SCIENCE COLLEGE, COIMBATORE.
RAMPRAKASH S
DR. N.G.P. ARTS AND SCIENCE COLLEGE, COIMBATORE
Published June 30, 2017
How to Cite
NAMASIVAYAM, P, S. P. A., & S, R. (2017). Impact of gst in india. Journal of Management and Science, 7(2), 297-300. https://doi.org/10.26524/jms.2017.42

Abstract

Goods and Service Tax or GST as it is known is all set to be a game changer
for the Indian economy. The Finance Minister in his budget speech of Budget 2015 has
announced time and again that the tax will be introduced on 1 April, 2016. In India, there are
different indirect taxes applied on goods and services by central and state government. GST
is intended to include all these taxes into one tax with seamless ITC and charged on both
goods and services. Thus excise duty, special additional duty, service tax, VAT to name a
few will get repealed and will be added into GST. For this, GST will have 3 parts – CGST,
SGST and IGST. The central taxes like excise duty will be subsumed into CGST and state
taxes like VAT into SGST .This paper deals with the impact of GST in India

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