A Sturdy on Probable of Introduction of Goods and Services Tax in India

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Abstract

GST is the taxation procedure for goods and service transported from one destination to other, it was discussed for years by the government of India to get implemented and now awaiting for its implementation. Taxation and its associated governing laws, in the current scenario, is playing a significant role in the life of business, individual and also for the government for the betterment of policies for the social good. The paper is focused to analyse, around the globe experience of GST and its probable effect in India. The conclusion of the paper lists down the positive and negative effects of the GST from which it could be noted that GST implementation and liberalization of tax policies will create a beneficial impact on industry, individual and economy of India.