• ROSHINI D

Abstract The introduction of the Goods and Service Tax (GST) is a very significant step in the in the field of indirect tax reforms in India. By amalgamating a large number of central and state taxes into a single tax, GST Will mitigate ill effects of cascading or double taxation in a major way and pave the way for a common national market. From the consumer’s point of view, the biggest advantage would be in terms of reduction in the overall tax burden on goods, which is currently estimated to be around 25%- 30%. It would also imply that the actual burden of indirect taxes on goods and services would be much more transparent to the consumer. Introduction of GST would also make Indian products competitive in the domestic and international markets owning to the full neutralization of input taxes across the value chain of production and distribution. Studies show that this would have a boosting impacting on economic growth last but not the least, this tax, because of its transparent and self – policing character, would be easier to administer. It would also encourage a shift from the informal to formal economy. The government purposes to introduce GST with effect from 1st July 2017.

GST, Indirect tax, Neutralization

"A STUDY ON GOODS AND SERVICES TAX IN INDIA AND ITS IMPACT ON VARIOUS SECTORS", International Journal of Emerging Technologies and Innovative Research (www.jetir.org), ISSN:2349-5162, Vol.10, Issue 6, page no.c729-c737, June-2023, Available :http://www.jetir.org/papers/JETIR2306279.pdf

"A STUDY ON GOODS AND SERVICES TAX IN INDIA AND ITS IMPACT ON VARIOUS SECTORS", International Journal of Emerging Technologies and Innovative Research (www.jetir.org | UGC and issn Approved), ISSN:2349-5162, Vol.10, Issue 6, page no. ppc729-c737, June-2023, Available at : http://www.jetir.org/papers/JETIR2306279.pdf