Impact of goods and service tax (gst)

Abstract

A tax is not a voluntary payment or donation, but an enforced contribution imposed by government under the names of toll duty, custom, excise, subsidy or other name. The Goods and Service Tax (GST) which was introduced from July 2017 by the Government of India is a value added tax, which is the only indirect tax that directly affects all sectors and sections of our economy. In this paper I have dealt in detail the impacts of GST, though its various objectives and features in strengthening the Indian economy. Further the impact of Integrated Goods and Service Tax (IGST),have been discussed at length in benefitting the individuals, importers, exporters and organization.