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

Impact of gst after its implementation

Sivakumar A
Assistant Professor of Commerce, Gobi Arts & Science College, Gobichettipalayam – 638 453
Published June 30, 2017
How to Cite
A, S. (2017). Impact of gst after its implementation. Journal of Management and Science, 7(2), 368-372. https://doi.org/10.26524/jms.2017.55

Abstract

Goods and Services Tax is defined as the giant indirect tax structure designed to support and
enhance 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 the
constitutional amendment for the same was passed by the Loksabha on 6th May 2015 but is yet to
be ratified by the Rajyasabha. However, there is a huge hue and cry against its implementation. The
purpose of GST is to replace all these taxes with single comprehensive tax, bringing it all under
single umbrella. The purpose is to eliminate tax on tax.

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