GST IN INDIA: A FLYING LEAP IN INDIRECT TAXATION STRUCTURE

Author Name : Kuhan K., Mubarak Rahman P. and Dr. V. Kavida
Volume : II, Issue :IV,December - 2016
Published on : 2016-12-28 , By : IRJI Publication

Abstract :

Goods and Service Tax (GST) is a comprehensive tax structure which will subsume the present indirect taxes and will create a common market for Indian economy. It will harmonize the central and state tax administration system which would reduce the cascading effect of tax and will lower the cost of doing business which would enable the Indian entrepreneurs to make a competitive advantage in domestic as well as foreign market. GST will have an impact on all most all aspects of the business operations like pricing of goods and services, accounting, supply chain utilization etc. This paper attempts to bring out the perception of tax professionals about the implementation of new indirect tax system.