INTERNATIONAL JOURNAL OF SCIENTIFIC DEVELOPMENT AND RESEARCH International Peer Reviewed & Refereed Journals, Open Access Journal ISSN Approved Journal No: 2455-2631 | Impact factor: 8.15 | ESTD Year: 2016
open access , Peer-reviewed, and Refereed Journals, Impact factor 8.15
The present study explores the Impact of Goods and Service Taxes on Traders. Tax policies play a vital role in the economy through their impact on both efficiencies, equity. An advanced tax system should keep in view issues of income distribution Endeavour to generate tax revenues for the government expenditure on public services and infrastructure development. Cascading tax revenues have differential impacts on firms in the economy with the relatively high burden on those not getting full offsets. The Goods and Service Tax replace the state Value added tax, service tax and Central Excise, and other indirect taxes will be a single, broad-based, comprehensive tax levied on goods and services. GST is based on an end user taxation system, where tax is levied on final consumption. It is expected to reduce compliance costs, broaden the tax base, foster a common market across the country and promote exports. The GST demands a well-designed and robust Income Tax system for realising its potential in reforming the indirect tax system in India. The income tax system of GST would be a unique system. Which will integrate the central and state tax administration, one country and one tax system which makes a drastic change in the country and even on the Traders people. It removes several roadblocks like cascading, double taxation and complexity.
Keywords:
Goods and service Tax, Information Technology, country, Traders.
Cite Article:
"Goods and Service Tax: Impact on Traders", International Journal of Science & Engineering Development Research (www.ijsdr.org), ISSN:2455-2631, Vol.3, Issue 11, page no.154 - 162, November-2018, Available :http://www.ijsdr.org/papers/IJSDR1811026.pdf
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000336256
Publication Details:
Published Paper ID: IJSDR1811026
Registration ID:180789
Published In: Volume 3 Issue 11, November-2018
DOI (Digital Object Identifier):
Page No: 154 - 162
Publisher: IJSDR | www.ijsdr.org
ISSN Number: 2455-2631
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