Gst- a Burden Or a Blessing in India

Abstract

GST is a new tax regime in the Indian Taxation system which is against the almost whole indirect tax system of the country to bring one country one tax system. The researcher has framed the objectives to cover almost all the aspects affecting the GST and the working of the taxation system in the country. The researcher has taken the comparison of GST rates with the rates of the same products before the introduction of GST and its effect after the implementation of GST on the Indian economic sector. The categories taken in the study is the sample from the items mentioned under GST where the researcher has taken combination of luxury products and basic commodities, in addition to this the researcher has taken a sample of two companies where one deals in luxury items and the other is dealing in basic commodities which will help to get the more reliable results of the effect after the implementation of GST. The third objective is framed to take out the efficiency of the GST introduced in India by comparing it with the GST which has already been introduced in different countries. This can help to find the suggestions which make the GST in India a better approach to the country. The whole study is framed to give a clear idea of GST to the readers and make it more understandable to them by covering the aspects which comes primarily in the mind of readers.