Impact of GST on Indian Economy

  • S Ramamoorthy Associate Professor, Department of Economics, N.M.S.S.Vellaichamy Nadar College, Madurai, Tamil Nadu, India
Keywords: FASB, IASB, Dynamics, Goods and Service Tax, Indian Economy

Abstract

The Goods and Services Tax, or GST, is predicted to have a significant impact on the Indian economy. The Goods and Services Tax (GST) is one of India's most significant and long-awaited tax reforms. It is a game-changing reform for the Indian economy since it creates a single Indian market and reduces the cascading effect of taxes on the cost of goods and services. It's also known as the country's large indirect tax structure, which is intended to boost and stimulate economic growth. GST is expected to be implemented not just in the country, but also in adjacent countries and developed economies around the world. It would be interesting to learn why the planned GST regime could stifle the country's growth and development.

Published
2017-12-23
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How to Cite
Ramamoorthy, S. (2017). Impact of GST on Indian Economy. Shanlax International Journal of Economics, 6(1), 140-146. Retrieved from https://shanlaxjournals.in/journals/index.php/economics/article/view/5151
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