Role of Goods and Services Tax in India’s Economic Development
Gowtham Ramkumar1, S. Chitra2
1Gowtham Ramkumar, Part-Time Research Scholar, Assistant Professor Department of Commerce, SRM Institute of Science and Technology, Chennai (Tamil Nadu), India.
2Dr. S. Chitra, Associate Professor Head, Department of Commerce, SRM Institute of Science and Technology, Chennai (Tamil Nadu), India.
Manuscript received on 29 November 2019 | Revised Manuscript received on 21 December 2019 | Manuscript Published on 31 December 2019 | PP: 155-157 | Volume-8 Issue-4S3 December 2019 | Retrieval Number: D10221284S319/2019©BEIESP | DOI: 10.35940/ijrte.D1022.1284S319
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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: Indirect taxes are one of the sources of income for government. The indirect tax reforms played a major part in choosing the heading of financial development. Goods and Services tax is one of the noteworthy roundabout charge change in India. It was presented in India in July 1,2017. Numerous pre-GST execution investigate considers demonstrated that products and administrations charge will contribute to the financial development of the nation. Presently, it is nearly two a long time since the usage of GST. This inquire about consider looks for to ponder whether there’s any relationship between merchandise and administrations charge and financial development. In arrange to ponder this relationship, GST turnover and GDP of India for these two a long time is considered. At last, the consider arrives at a significant conclusion and clearly clarifies the degree of impact of GST in Indian financial advancement.
Keywords: Goods and Services Tax, GST Turnover, Economic Development, Gross Domestic Product.
Scope of the Article: Social Sciences