International Journal For Multidisciplinary Research

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The Effect of GST on the Economy of India

Author(s) Ms. Anjali Tiwari, Dr.Satveer Kaur ahluwalia
Country india
Abstract Abstract
The increased taxation in India causes issues for both consumers and businesses. India has a complicated tax system that we have observed. The current government is placing greater emphasis on implementing the GST bill. The report outlined how GST will benefit businesses and the government. additionally described how GST lowers the price of goods and services. It would lessen the negative consequences of cascading and set the path for a common national market by combining numerous federal and state taxes into a single tax and permitting set-off of earlier stages of taxes. While some of them responded favourably and others unfavourably, the implementation of the tax has raised the cost of goods and services, raising the possibility of hardship for some. GST will have a significant impact on all areas of the economy, including the manufacturing and service sectors. The implementation of the Goods and Services Tax (GST) has an equal impact on all participants in the commercial arena, including manufacturers, traders, and service providers.

Keywords: Indian economy, GST requirements, awareness, and knowledge.
Keywords Indian economy, GST requirements, awareness, and knowledge.
Published In Volume 5, Issue 6, November-December 2023
Published On 2023-11-12
Cite This The Effect of GST on the Economy of India - Ms. Anjali Tiwari, Dr.Satveer Kaur ahluwalia - IJFMR Volume 5, Issue 6, November-December 2023. DOI 10.36948/ijfmr.2023.v05i06.8666
DOI https://doi.org/10.36948/ijfmr.2023.v05i06.8666
Short DOI https://doi.org/gs4xsr
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