GOODS AND SERVICES TAX (GST) IN INDIA: A STEP TOWARDS SUSTAINABLE ECONOMIC DEVELOPMENT

Author Name : Dr. Sadananda Sahoo
Volume : II, Issue :III,November - 2016
Published on : 2016-11-22 , By : IRJI Publication

Abstract :

The success of any program will probably be judged in future through its power to transform the lifestyles and welfare state of human beings and their ability to reduce inequality in our society. Our policy makers have deliberated a sequence of taxation to curb on this problem which we are facing since independence.GST plan is one of them which have focus on welfare state of people. This paper is an evaluation of what the impact of GST (Goods and Services Tax) will likely be on Indian Tax system. Goods and Services Tax is a comprehensive indirect tax levy on manufacture, sale and consumption of goods as well as services at the national level. It replaces all indirect taxes levied on goods and services by the Central Government and State Governments.