DOI:10.29111/ijlrst ISRA Impact Factor:3.35
Research Paper Open Access
International Journal of Latest Research in Science and Technology Vol.6 Issue 6, pp 4-8,Year 2017
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Received : 01 November 2017; Accepted : 15 November 2017 ; Published : 27 November 2017
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In India we found existence of two type of tax system since 1961. Current indirect tax system, a complicated tax structure which is not to be easily understood to a common man so there is an urgent need of reformulate to old with new one, such a tax system which would be easy to apply, appreciate and not be overlapping specially Indirect tax. Goods and Services Tax (GST) is a proposed system of indirect taxation in India merging most of the existing taxes into single system of taxation. GST stands for “Goods and Services Tax†and is proposed to comprehensive indirect tax levy on manufacture, sale and consumption of goods as well as services at the national level. It will replace all indirect taxes levied on goods and services by the Central Government and State Governments. GST is the only indirect tax that directly affects all the sections of our economy. India has been trying to implement the Goods and Services Tax (GST)for last few years but due to political and state governments autonomy issues the Federal government has been unable to make it law.
Copyright © 2017 Seenu Garg et al. This is an open access article distributed under the Creative Commons Attribution 4.0 International (CC BY 4.0) license which permits unrestricted use, distribution, and reproduction in any medium, provided the original work is properly cited.
Seenu Garg , " Gst In India A Key Tax Reform ", International Journal of Latest Research in Science and Technology . Vol. 6, Issue 6, pp 4-8 , 2017
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