An Analytical Study of Major Problems and Provisions Related to GST in India and Impact of GST on Various Sectors of Indian Economy

Authors

Deepak Nama

Abstract

GST is an indirect tax that has replaced several Indirect Taxes in India. The products and repair Tax Act was passed within the Parliament on twenty ninth (29) March 2017. The Act came into result on one July 2017; product & Services law in India could be a comprehensive, multi-stage, destination-based tax that is levied on every worth addition Goods and Service Tax (GST) is antaxation applied in India on the provision of goods and services. GST removed the cascading effect on the goods and services. Removal of cascading effect reduces cost of goods because GST regime eliminates tax on tax. GST reduce the tax burden and helps in higher production. GST is beneficial for long term. The main objective of this study to know the impact of GST on Indian economy and to analyze the customer perception and their views regarding importance of GST. In this analysis, both primary and secondary data are used to collect the data. To study the usage of the impact of GST on Indian economy a sample of 154 respondents were collected through an online questionnaire.

Keywords

GST, Impact of GST, Indirect Taxes, Cascading Effec

An Analytical Study of Major Problems and Provisions Related to GST in India and Impact of GST on Various Sectors of Indian Economy. Deepak Nama. 2023. IJIRCT, Volume 9, Issue 2. Pages 1-5. https://www.ijirct.org/viewPaper.php?paperId=2302019