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GST as Major Reform in Taxation System of India

Journal: International Journal of Science and Research (IJSR) (Vol.3, No. 5)

Publication Date:

Authors : ;

Page : 497-501

Keywords : Constitutional amendment; Goods & Services Tax; CGST; SGST; IGST; Direct Tax; Indirect Tax; VAT;

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GST otherwise called the Goods and Services Tax is characterized as the mammoth indirect assessment structure intended to help and upgrade the financial development of a nation. More than 160 nations have executed GST up until now. The possibility of GST in India was mooted by Vajpayee government in 2000 and the sacred amendment for the same was passed by the Lok sabha on 6th May 2015 and sanctioned by the Rajya sabha in August 2016. From the very first day of implementation of GST i. e. , 1st July 2017, there is a colossal clamor against its usage. It is fascinating to comprehend why this implemented GST administration may hamper the development and advancement of the nation.

Last modified: 2021-06-30 19:59:36