Goods and Services Tax: Issues and Challenges in India
Vikram Sandhu1, Heena Atwal2
1Dr. Vikram Sandhu, Assistant Professor, University Business School, Guru Nanak Dev University, Amritsar (Punjab), India.
2Dr. Heena Atwal, Assistant Professor, Department of Basic and Applied Sciences, Punjabi University, Patiala (Punjab), India.
Manuscript received on 21 September 2019 | Revised Manuscript received on 06 October 2019 | Manuscript Published on 11 October 2019 | PP: 758-760 | Volume-8 Issue-2S10 September 2019 | Retrieval Number: B11350982S1019/2019©BEIESP | DOI: 10.35940/ijrte.B1135.0982S1019
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© The Authors. Blue Eyes Intelligence Engineering and Sciences Publication (BEIESP). This is an open access article under the CC-BY-NC-ND license (http://creativecommons.org/licenses/by-nc-nd/4.0/)
Abstract: Number of indirect taxes is under one umbrella which simplifies taxation system for service and commodity businesses. GST can convey various advantages to economy as an indirect tax. The paper focuses on advantages to Indian economy, and various problems, issues and challenges in front of GST. These advantages include effect on GDP ratio, competitive advantages, price and consumption benefits and others. Present GST rates, exempted products from GST, issues and challenges are also discussed in this paper in which some problems such as lack of growth, complexity, filing charges, multiple returns are included.
Keywords: GST, Advantages of GST, GST Rates, Problems, Issues and Challenges in Implementation Process of GST.
Scope of the Article: Social Sciences