AN INTRODUCTION: GOODS & SERVICE TAX (GST)
Keywords:
GST, GST Act, implementation of GSTAbstract
There are mixed response, inexplicit, arguments and opinions among the manufacturers, traders, and society about the Goods and Service Tax (GST) to be implemented by Government of India from 1st April 2017 this year. Various news organizations from all around the world focused on the bill unifying the country and it being an achievement of the government. As the Goods and Services Tax Bill was passed in the Rajya Sabha, it also brought India at the center of the global economy. With the passing of the bill, many international newspapers published their views on how the GST Bill brings a new wave of economic reform in the country. The paper highlights the background, prospects and challenges in implementation of GST in India. Finally, the paper examines and draws out a conclusion.
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