Publication

Abstract : GST means Goods and Service Tax. Goods and Service Tax is a complete tax imposed on manufacture, sale and utilization of goods and service. It is mostly a substitute of all indirect taxes which imposed on goods and services by the Central and State government of India. Goods and Services Tax would be levied and collected at each stage of sale or purchase of goods or services based on the input tax credit process. The main objective of GST is One Nation, One Tax and One Market. It was introduced as a multi-stage, destination based tax that will be levied on every value addition by avoiding the cascading effect of tax. It is such type of tax till the ultimate consumers will improve competitiveness of original goods and services in the market which directly impact on GDP growth of the country. In this paper we analysis the economic benefit of Goods and Services Tax on Indian Tax Scenario.