Indian Economy
Purchasing Power Parity
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Madhu Bala (2018, February 2). GST in India and its Impact on Indian Economy. Paper presented at Conference: GST - Impact on Indian Economy Conference, Hindu Girls College, Jagadhari (Haryana), India
16 Pages Posted: 10 Apr 2020
DAV College for Girls
Date Written: February 2, 2018
Purpose: - Traditionally India's tax regime relied heavily on indirect taxes. Revenue from indirect taxes was the major source of tax revenue till tax reforms were undertaken during nineties. The major argument put forth for heavy reliance on indirect taxes was that the India's majority of population was poor and thus widening base of direct taxes had inherent limitations. But the Indian system of indirect taxation is characterized by cascading, distorting tax on production of goods and services which leads to hampering productivity and slower economic growth. There are endless taxes in present system few levied by Centre and rest levied by state, to remove this multiplicity of taxes and reducing the burden of the tax payer a simple tax is required and that is Goods and Service Tax (GST). This paper throws an insight into the Goods and Service Tax concept and its impact on Indian economy. Design/Research Methodology/Approach: - The paper is based on secondary data. The paper is based on extant literature and internet sources have been used. The various articles, researches, government reports, newspapers, magazines, various websites and the information on internet have been studied. Key Findings: - The macroeconomic impact of GST is significant in terms of growth effects, price effects, current account effects and the effect on the budget balance. In developing open economy with growing service sector, a change in the tax mix from income to consumption-based taxes is likely to provide a fruitful source of revenue. The proposed structure will simplify the procedure which will end up with equal opportunity for all the markets and in other hand will leads reduced tax evasion. Research Limitations/Implications: - The present study provides a starting-point for further research in this field. This further can be explained with respect to real benefits in India after successful implementation of GST.
Keywords: Tax, GST, VAT, CGST, SCGT, IGST, Goods Service Tax, Value Added tax, India
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The Goods and Services Tax (GST), implemented on July 1, 2017, is regarded as a major taxation reform till date implemented in. India since independence in 1947. GST was planned to be implemented ...
The paper focuses on exploring the present state of GST implementation in India by the government on completing its three years. The paper follows SAP-LAP framework-based qualitative design. The study used a step-by-step approach to review extant literature to understand how the past scholars have conceptualized and theorized such a phenomenon.
This paper presents an overview of GST concept, advantages and explains its features along with focused in challenges faced by India in execution. Discover the world's research 25+ million members
ensuring the success and sustainability of India's GST system in building a dynamic economy. This conclusion summarizes the research paper's main findings, discussions, and recommendations, offering a clear and brief overview of the study's contributions and consequences. References 1. Agarwal, M. K., & Yousuf Malik, M. (2019).
The Goods and Services Tax (GST) is implemented to ensure India's balanced economic development by simplifying the country's cumbersome indirect tax system, allowing commodities to move freely across state and national borders, cutting tax evasion and ramping up the taxpayers' base, improving compliance with taxation rules, increasing government revenues and attracting investors by ...
The call for the need to ensure fiscal autonomy of States needs to be viewed in the context wherein the disagreement between the Centre and the States in the design of GST in India centred around the issue of subsuming the sales tax in GST, the only significant revenue source for the States in India (Mukhopadhyay, 2003). Thus viewed, since GST ...
Dr.B.EZHILARASU. ASSISTANT PROFESSOR OF ECONOMICS DEPARTMENT OF ECONOMICS PRESIDENY COLLEGE CHENNAI - 600 005 TAMILNADU, INDIA. Abstract: This research paper has been carried out how GST affects the cost of services in India and to study the impact of GST on India's GDP. The Goods and Services Tax, the largest tax reform introduced in India ...
The Goods and Services Tax (GST) implementation in India in July 2017 marked a significant milestone in the country's economic landscape. This research paper presents a comprehensive analysis of the impact of GST on various sectors of the economy. Employing a mixed-methods approach, the study combines quantitative data analysis and a thorough ...
According to the experts, after liberalizing the Indian economy in 1991, the Goods and Services Tax (henceforth GST) is a significant taxation turnaround by the Indian government (Jha, 2019; Siddiqui, 2018). India has tra-versed a long path to embrace GST as an excellent and long-awaited indirect tax reform aimed at one nation, one tax, and one ...
paper w e c an conclude that there is a lot of scope for the further research on GST in India, as it has b een impleme nted in July 2017 and only a fe w papers have b een written o n it and
Goods and Services Tax (GST), implemented on July 1, 2017, is regarded as a major taxation reform till date implemented in India since independence in 1947. GST was planned to be implemented in April 2010, but was postponed due to political issues and conflicting interest of stakeholders. It is a comprehensive tax system that will subsume all ...
Pinki et al.,7 (2014) the authors in the paper have explored the concept of GST, the need to introduce it in India, the hurdles in introducing it in India and suggestions to overcome the same. The paper also discusses the benefits of introducing GST at the earliest. The authors have discussed the options to introduce the dual GST in India which ...
Abda S. (2017). Research paper on effects of goods and services tax on Indian economy. International Education & Research Journal, 3(5), 584-585. E-ISSN No: 2454-9916 ... Implications of implementing GST in India. National Conference Proceedings on Introducing GST and Its Impact on Indian Economy. ISBN: 978-93-84262-25-9. Google Scholar ...
However, in India, GST was established in 1999. ... braille paper, ... This research evaluates GST's revenue collection performance and finds out whether the revenue collection increased from July ...
Former Director, NIPFP. Abstract: The implementation of Goods and Services Tax (GST) in India on July 1, 2017 is a landmark reform. Since then, it has been evolving with changes being made to the structure and operational details from time to time. This paper attempts to take stock of the progress in implementing the tax, its economic and ...
According to the experts, after liberalizing the Indian economy in 1991, the Goods and Services Tax (henceforth GST) is a significant taxation turnaround by the Indian government (Jha, 2019; Siddiqui, 2018 ). India has traversed a long path to embrace GST as an excellent and long-awaited indirect tax reform aimed at one nation, one tax, and one ...
The Shodhganga@INFLIBNET Centre provides a platform for research students to deposit their Ph.D. theses and make it available to the entire scholarly community in open access. ... Impact of goods and service tax gst on indian economy: Researcher: Garg, Ruchi: Guide(s): Saini, P. C. Keywords: Goods And Service Tax Indian Economy Purchasing Power ...
The present research has been conducted in one of the world's developing countries- India, which reformed its indirect tax structure on July 1, 2017, by implementing Goods and Service Tax (GST). ... Hence the present paper explored the effect of GST on the business performance of MSMEs. Furthermore, MSMEs in India play a dominant role as they ...
Research Paper 3 Years of GST Implementation in India: A State-Level Performance Analysis Sumedha Pandey Assistant Professor, C.M.P. Degree College, Prayagraj. ABSTRACT In July 2020, GST completes its three years. GST was expected to be a game changer in the field of indirect tax reforms.
Design/Research Methodology/Approach: - The paper is based on secondary data. The paper is based on extant literature and internet sources have been used. The various articles, researches, government reports, newspapers, magazines, various websites and the information on internet have been studied. ... Bala, Madhu, GST in India and its Impact ...
GST will impact on consumer in term of fluctuation rate on product. This is single tax base concept. Kulkarni, S., & Apsingekar, S. (2021). In his srudy " A Study of Impact of GST on Indian ...
The research paper is regarding impact of GST on Indian economy. The products and carrier Tax is carried out on July1, 2017 at a characteristic in critical corridor of the Parliament. The Lok Shaba has sooner or later handed the GST invoice and it is expected to have a great impact on every enterprise and consumer. Greater than a
Implications of indirect tax namely GST's implications on small and medium businesses are an emerging area of research in India. Relevant literature of Indian and other nations up to 2020 has been studied and it covers published and also grey literature materials.