Goods and Services Tax New Tax Reform System

  • Prof. RK Gupta Principal, Department of Commerce, DNPG College, Fatehgarh, Farrukhabad

Abstract

GST is one of the most important tax reforms in India. The proposed tax on goods and services is in fact the idea of ​​former Minister of Finance, Mr. P. Chidambran. Although it had to come into force in April 2010, GST's Main idea is to replace existing taxes such as value added tax, tax exemption, service tax and sales tax. Consumers also benefit from delivering goods and services at low prices, because the proposed GST will have the benefit of pension deduction. Central denominations and provincial income will increase in the long term. Removing the wrinkles from existing indirect tax systems plays an important role in the growth of India. The only obstacle to crossing at the beginning of the GST is to prevent some parts of the country from agreeing.

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Published
2018-03-28
Section
Conference Paper