Impact of the Goods and Services Tax (GST) Bill on the Indian Economy

Abstract

On 1 July 2017, Indian Finance Minister Shri Arun Jaitley passed on the goods and services tax declaration (abbreviated as "GST"). Is a comprehensive multi-level tax imposed on goods and services from India? It is therefore expected that GST will successfully replace previous forms of indirect taxes such as VAT (VAT) and centralized consumption tax (or service tax).