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 AN OVERVIEW OF BASIC CONCEPTS OF GST IN INDIA



Author(s): MS. SHAHANA T.

Abstract

The Good and services tax (GST) is the biggest and substantial indirect tax reform since 1947. The main idea of GST is to replace existing taxes like value-added tax, excise duty, service tax and sales tax. It is a comprehensive tax regime levied on manufacture, sales and consumption of goods and services. It is expected to bring about 2% incremental GDP growth of the country. So, GST is the need of the hour.



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An Overview of Basic Concepts of GST in India. Ms. Shahana T..2017 .1,s.l.: IRJMST,2017, International Research Journal of Management Sciences & Technology ,Vol.8 www.IRJMST.com