Sarika Pansare*(Assistant Professor, Dr. D. Y. Patil B-School, Pune, Maharashtra, India), Shraddha Joshi (Assistant Professor, Dr. D. Y. Patil B-School, Pune, Maharashtra, India) and Gaurav Vaishnav (Student, Dr. D. Y. Patil B-School, Pune, Maharashtra, India) *Corresponding author's Email
Citation
Pansare, Sarika; Joshi, Shraddha and Vaishnav, Gaurav (2018), "Goods and Services Tax: The Game Changer", MERC Global’s International Journal of Management, Vol. 6, Issue 4, pp. 196-198.
Article history
Submitted: June 30, 2018, Revision received: August 13, 2018, Accepted: August 25, 2018
GST has been a landmark in the Indian tax system situation, increasing productivity and addressing tax evasion and corruption issues. India follows a dual tax arrangement where both state and national governments levy taxes. Even though GST has been hailed as a game-changer in India and is a recent phenomenon, it is essential to study whether it is a panacea for all our tax issues. In conclusion, this review has explained that the implementation of GST has been a game-changer for India in boosting the economy, GDP, improving productivity in the domestic market, drawing FDI, reducing the overall tax burden to the consumer and manufacturer alike, etc. Its initial implementation has been confusing as far as registration and paperwork was concerned.
Keywords
GST, GDP, Direct tax, Indirect tax.
References
Ahmad, M.A.R. (2016), “Introducing GST in Malaysia. Two day National Seminar on GST and Digital Economy- Implications on Trade and Commerce”, International Journal of Research in Management and Social Sciences, Vol. 6(1), IX-Part 1.
Australian Competition and Consumer Commission. (ACCC), [au]. (2000).
Englund, P.; Hendershott, P.H. and Turner, B. (1995), “The tax reform and the housing market”, Swedish Economic Policy Review, Vol. 2, pp. 3195-356.
Garg, G. (2014), “Basic Concepts and Features of Goods and Services Tax in India”, International Journal of Scientific Research and Management, Vol. 2(2), pp. 542-549.
Gelardi, A.M. (2014), “Value Added Tax and Inflation: A Graphical and Statistical Analysis”, Asian Journal of Finance and Accounting, Vol. 6(1).
Hisyam, K. (2015), GST Impact on p\ Property less than 5%., Says WTW.
Kamruddin, S. and Misab, P.T. (2018), “Impact of GST on Banking Sector: An Overview. Seminar Special (January- March 2018), Two day National Seminar on GST and Digital Economy- Implications on Trade and Commerce”, International Journal of Research in Management and Social Sciences, Vol. 6(1), IX-Part 1.
Kankipati, A. K. (2017), “A Journey of Goods and Services Tax (GST) and Structural Impact of GST on the Growth of GDP in India”, International Journal of Journalism and Communication, Vol. 2(2), pp. 19-22.
Khaitan, S. (2014), Goods, and Service Tax: A Game Changer. Insights, 3(10). www.ruchelaw.com.
Mitra, P.B. (2017), “GST- A Game Changer”, International Journal of Management Research and Social Science, Vol. 4(1).
Nurul, I. D. (2014), GST Poser on Properties. Personal Money: PwC Malaysia Report. Pp. 20-22.
Palil, M.R. and Ibrahim, M.A. (2011), “The Impact of Goods and Services Tax (GST) on Middle-Income Earners in Malaysia”, World Review of Business Research, Vol. 1 (3).
Seminar Special (January- March 2018), “Two day National Seminar on GST and Digital Economy- Implications on Trade and Commerce”, International Journal of Research in Management and Social Sciences, Vol. 6(1), IX-Part 1.
Tanvi and Narwal, Karampal (2017), “Comparative Analysis of Corporate Effective Tax Burden between Manufacturing and Service Sector in Developing Countries: An Empirical Study in India”, MERC Global’s International Journal of Management, Vol. 5, Issue 1, pp. 19-28.
Tripathi, S.K. (2018), Goods and Services Tax (GST): Benefit for Small retailers. Swaranjali Publications.
Zainal, R.; Teng, T.C., Mohamed, S. (2016), “Construction cost and Housing Prices: Impact of Goods and Service Tax”, International Journal of Economics and Financial Issues, Vol. 6(S7), pp. 16-20.