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AN OVERVIEW OF BASIC CONCEPTS OF GST IN INDIA
1
Author(s):
MS. SHAHANA T.
Vol - 8, Issue- 1 ,
Page(s) : 407 - 413
(2017 )
DOI : https://doi.org/10.32804/IRJMST
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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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