AN ASSESSMENT OF GOODS AND SERVICES TAX (GST) IN INDIA

Abstract

GST is a biggest tax reform in the history of India. The aim of GST is to increase the tax base by bring small and medium enterprises and the unorganized industries under the GST purview. GST will lead to more competitiveness in Indian market and develop a level playing field between large and small enterprises. Indian businesses will also be able to compete with foreign countries. The objectives of the present study are to analyze the positive aspects of the GST in India; to analyze the problems, arise in implementation of GST; to know the legal aspects of the GST and to analyze the perspectives of businessmen for the success of GST.