• Mathew Abraham

On 1 July 2017, the government made an ambitious shift to what it promised was a modern, transparent and technology-driven indirect tax system to sharpen the competitive edge of a $2.3 trillion Indian economy driven by internal trade barriers and a raft of central, state and local taxes. GST subsumed 17 central, state and local taxes in line with the “one nation, one market, one tax” concept on which it was based. The goods and services tax (GST) was hailed as the biggest tax reform by India in 70 years of independence, a potential game-changer that would, at one stroke, unite the country of 1.3 billion people into a common market by dismantling inter-state tariff barriers. This paper discusses the apprehension relating to proposed GST regime regarding the growth in Indian Economy and its effects thereof. A more rational tax system would lead to lesser disruptions to the market economy and more efficient distribution of resources within industry. As we know in India economy, destination based taxation requires high compliance cost and efficient administration.

GST, tariff, game-changer

"GST - A Panacea for Economic Growth in India?", International Journal of Emerging Technologies and Innovative Research (www.jetir.org), ISSN:2349-5162, Vol.5, Issue 6, page no.439-446, June-2018, Available :http://www.jetir.org/papers/JETIR1806452.pdf

"GST - A Panacea for Economic Growth in India?", International Journal of Emerging Technologies and Innovative Research (www.jetir.org | UGC and issn Approved), ISSN:2349-5162, Vol.5, Issue 6, page no. pp439-446, June-2018, Available at : http://www.jetir.org/papers/JETIR1806452.pdf