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ESTD2016
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Paper Title
A Study On GST Collection and its significance to the growth of Indian economy
Authors
Hithesh Kumar S , Naveenkumar N , Ramakrishnan M
Keywords
Abstract
Goods and Services Tax (GST) is a value-added tax levied on the consumption of goods and services in many countries around the world. It is a comprehensive tax that replaces various indirect taxes like excise duty, service tax, value-added tax, and others. The GST system aims to simplify tax compliance and reduce the cascading effect of taxes. Under the GST regime, every entity involved in the supply of goods or services is required to register for GST and collect the tax from their customers. GST is levied at every stage of the supply chain, but businesses can claim input tax credit for the GST paid on purchases made for business purposes.
GST has several benefits, including increasing tax compliance, reducing the burden of multiple taxes, promoting ease of doing business, and creating a unified market. However, implementing GST can also have challenges, such as changes in business processes and IT systems, tax evasion, and revenue loss for some states.
Overall, GST is a significant tax reform that aims to streamline the indirect tax structure and create a common market for goods and services. Its success depends on effective implementation and ongoing monitoring to address any issues that may arise.
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How To Cite
"A Study On GST Collection and its significance to the growth of Indian economy", IJRTI - International Journal for Research Trends and Innovation (www.IJRTI.org), ISSN:2456-3315, Vol.9, Issue 6, page no.366 - 368, June-2024, Available :https://ijrti.org/papers/IJRTI2406049.pdf
Issue
Volume 9 Issue 6,
June-2024
Pages : 366 - 368
Other Publication Details
Paper Reg. ID: IJRTI_189883
Published Paper Id: IJRTI2406049
Downloads: 205,619
Research Area: Management
Country: Namakkal, Tamil Nau, India
Published Paper PDF: https://ijrti.org/papers/IJRTI2406049
Published Paper URL: https://ijrti.org/viewpaperforall?paper=IJRTI2406049
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ISSN: 2456-3315 | IMPACT FACTOR: 10.57 Calculated By Google Scholar | ESTD YEAR: 2016
An International Scholarly Open Access Journal, Peer-Reviewed, Refereed Journal Impact Factor 10.57 Calculate by Google Scholar and Semantic Scholar | AI-Powered Research Tool, Multidisciplinary, Monthly, Multilanguage Journal Indexing in All Major Database & Metadata, Citation Generator
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