International Journal of Advanced Research in Management and Social Sciences
Year : 2016, Volume : 5, Issue : 9
First page : ( 34) Last page : ( 46)
Online ISSN : 2278-6236.

Implementation of goods and service tax in India 2016: Challenges and opportunities

Dr. Jaisheela B.

H.O.D., Department of Commerce and Management, Government First Grade College, Aurad (B) Dt. Bidar, Karnataka (India)

Online published on 20 May, 2017.

Abstract

“Goods and Service Tax (GST) is a comprehensive tax levy on manufacture/producer sale and consumption of goods and service at a national level. GST is a tax on goods and services with value addition at each stage having comprehensive and continuous chain of set-of benefits from the producer's/service provider's point up to the retailer's level where only the final consumer should bear the tax”. The ‘flawless’ GST in the Indian context of federal structure would optimise efficiency, equity and effectiveness among the users. The ‘flawless’ GST is designed as a consumption type destination VAT based on invoice-credit method. This empirical study (paper) is an attempt to find the implementation of goods and service tax in India 2016 and to some challenges and opportunities of GST.

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Keywords

VAT, GST, Challenges, Opportunities, Manufacturer, Sales.

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