Goods and Service Tax (GST) As A New Path In Tax Reforms In Indian Economy
GST is a broad fiscal policy that includes all indirect taxes central and state governments. Taxation is a kind of source for generating revenue for the government. In India there are different types of taxes, such as corporation tax and income tax, customs and excise duties. The current government is trying to replace the GST as a value-added tax (VAT) in order to minimize the complexity of the various taxes. This paper highlights the consequences of the new tax system for a variety of selected industries in India. The Indian government is not satisfied with the current tax system, because it is not satisfied with the current tax system. Inherently complex, as well as excluding service costs tax burden is also removed. The government is expected to implement the GST of this fiscal year. The new tax system would improve the level of growth of the Indian economy. This study has discussed reform of the concept of the Indian economy in the GST.