Goods And Services Tax: A Positive Reform In Indian Indirect Taxation System

Seema Rani

Abstract


India's tax structure was very complicated before GST. It was very complex in nature it consist different tax rates. GST is one single tax for each and every transfer of goods and services on everywhere in the country. Indian Government accepts the concurrent dual GST- model. In this model three terms are used CGST, SGST and IGST. GST is very big tax reform in Indian taxation system. Goods and Services Tax Network has been set up by the Government of India (as a private company) under Section 25 of the Companies Act, 1956. The author tries to define the concept of GST and give an example on tax calculation under previous tax system and under GST. The paper also explores various benefits of GST and challenges against it. Author also discuss about the taxes subsumed under GST.


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