People Perception on GST An Critical Analysis

  • Dr. AK Saxena Assistant Professor, Department of Hindi, Gajraj Singh Memorial Degree College Sakit

Abstract

Goods and Service Tax (GST) is a VAT that is levied on most goods and services sold for domestic use. GST is paid by consumers, but companies selling goods and services are sent to the government. Goods and services tax has revolutionized the tax system in India. The GST method was adopted by Lok Sabha on 29 March 2017 and will take effect on 1 July 2017. The GST is an indirect tax for the entire country that makes India a single, uniform market. GST is a single tax on the supply of goods and services provided by the manufacturer to the consumer. The tax amount paid at each stage can be used in the next phase of VAT, and GST will in principle only levy the added value at each stage. Therefore, the end user only needs to carry the GST imposed by the last dealer in the supply chain, and they all compensate in the previous step

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Published
2018-03-23
Section
Conference Paper