Please use this identifier to cite or link to this item: https://gnanaganga.inflibnet.ac.in:8443/jspui/handle/123456789/9602
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dc.contributor.authorD. Nagayya-
dc.contributor.authorBalla Appa Rao-
dc.date.accessioned2024-02-27T07:13:05Z-
dc.date.available2024-02-27T07:13:05Z-
dc.date.issued2018-
dc.identifier.urihttp://gnanaganga.inflibnet.ac.in:8080/jspui/handle/123456789/9602-
dc.description.abstractGoods and Services Tax (GST) is India s most ambitious and remarkable indirect tax reform, launched on July I, 2017, after deliberations and preparatory work over several years. Its objective is to levy a single uniform tax across India on all goods and services, through a simplified and transparent tax structure by reducing the tax burden for both producers and consumers and increasing tax collection for the government. GST focuses on tax on value addition at every stage of the value chain from the manufacturer to the consumer, thereby removing the cascading effect of taxes (avoiding imposition of tax on tax). Implementing a new tax, encompassing both goods and services, by the Centre and the States in a large and complex federal system, is a massive, unprecedented task. Signifying the spirit of co-operative federalism, GST is being implemented as a historic and game-changing tax reform. Domestically, it will help improve governance, strengthen the tax institutions, facilitate Make-in-India by Making-One- India, and impart buoyancy to the tat base. Ease of Doing Business and ensuring that the benefits of the tax system reach the consumers are other major goals of the new system. Success of such a major change always depends upon its effective implementation. Periodic reviews and bringing about the desired changes from time to time are necessary. GST is a good and simple tax which would ultimately benefit the people. The paper focuses on the overall framework of GST, and implications for its implementation. Challenges in implementation for micro, small and medium enterprises (MSMEs), small traders, and exporters are also referred to. Boxes I to 9 present the highlights of the GST framework. After a review of the implementation of GST in the first three months (July to September 2017), decisions taken by the GST Council in its meetings held on October 6 and November 9 & JO, 2017 are recorded in the paper as significant steps. Two important aspects covered for implementation are: creating a strong IT backbone through GST Network - a technology driven system, and a digitalization revolution, and provisions regarding the role of the National Anti-Profiteering Authority (NAA).-
dc.publisherGitam Journal of Management-
dc.titleGoods and Services Tax (GST) - Framework of a Technology Driven Tax-
dc.volVol 16-
dc.issuedNo 1-
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