A Study on GST and Its Impacts on Indian Economy

GST (Goods and Services Tax) is a single indirect tax aimed at making the country a unified common market. It is imposed on the supply of goods and/or services within India. Multiple indirect taxes that the Central Government or State Governments impose on suppliers and consumers are subsumed by GST. On 1st July 2017 at midnight, the President of India, Sir Pranab Mukherjee and Prime Minister Sir NarendraModi launched GST all over India including Jammu & Kashmir. However, there have been many changes made to the rates of GST, the latest being on 18th January 2018. This study has been analysed the three objectives these are positive and negative impacts of GST on indian economy, Difference between GST and VAT, and rate changes on goods and its compared with old GST rates.

K. Sulochana. “A Study on GST and Its Impacts on Indian Economy.” REST Journal on Banking, Accounting and Business 2(2), (2023): 114-117. DOI: https://doi.org/10.46632/jbab/2/2/17