Perspectives on Business Management, Economics & Information Technology (PBMEIT) Now also covers research on Psychology

PBME Volume III ISBN: 978-81-951151-1-2

POST-GST IMPACT ON DIFFERENT INDUSTRIAL SECTORS

Author(s): GOURAB DAS

Abstract

The Goods and Services Tax (GST), implemented on July 1,2017, is known as a major taxation reform till date implemented in India since independence in 1947. GST was planned to be implemented in April 2010, but was postponed due to political issues and conflicting interest of stakeholders. However, there is a huge voice against its implementation. GST, which embodies the principle of “one nation, one tax, one market" is aimed at unifying the country's $2 trillion economy and 1.3 billion people into a common market. The objective of this research paper is to find out the impact of GST implication in different sector in Indian economy. GST obviously makes indirect taxation system transparent but all sectors in our economy are not affected positively through the implementation of GST, some of them are affected adversely. Initially, GST has increased the tax burden of common people as well as over the small businessman, some commodity and services make costlier with GST.

Keywords: GST, Indian Economy, Positive Impact, Negative Impact, taxation, economic sector

JEL Classification: C22, G01, G1

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