The PDF file you selected should load here if your Web browser has a PDF reader plug-in installed (for example, a recent version of Adobe Acrobat Reader).

If you would like more information about how to print, save, and work with PDFs, Highwire Press provides a helpful Frequently Asked Questions about PDFs.

Alternatively, you can download the PDF file directly to your computer, from where it can be opened using a PDF reader. To download the PDF, click the Download link above.

Fullscreen Fullscreen Off


Objectives: To analyze the impact of GST on the existing indirect tax regime and on the economy of India.

Methods: Doctrinal method was adopted to study the objectives of the research. Researcher has made comparative study of various countries who has adopted GST to replace the existing tax regime and its impact on their economy. Researcher has also critically analyzed the first discussion paper on goods and services tax in India released by empowered committee of state finance ministers in the year 2009.

Findings: GST will play a major role in the growth of the economy of India. After the enforcement of GST in India, GDP will also grow ranging from 0.9% to 1.7%. GST will not only bring reform in indirect tax regime in India but also play a very important role in the growth of trade, commerce and other sectors in India. With the growth of trade, commerce and manufacture sectors in India will be very helpful in generating the new employments. GST will be very helpful in bringing down the inflation and beneficial to the consumer also. In place of dual GST single national tax is require to introduce in order to bring the nation in single tax regime. In case of high rate of GST, there will be changes occur in the existing indirect tax regime. High rate of GST will be equivalent to the cumulative of existing indirect taxes on the products.

Application/Improvements: GST will bring reforms in the indirect tax system and helpful in the growth and development of economy in India.


Keywords

GST, Inflation, Employment, Consumer, Economy, GDP.
User
Notifications