POSITIVE AND NEGATIVE IMPACT OF GST ON THE INDIAN MARKET ECONOMY
Keywords:
Goods and Services Tax, GST, Indian Economy, Market Impact, Tax Compliance, Economic Reform, Indirect Taxation
Abstract
Goods and Services Tax (GST) was implemented in India on July 1, 2017, as a comprehensive indirect tax reform aimed at streamlining the taxation system in the country. This paper critically examines the positive and negative impacts of GST on the Indian market economy. By analyzing existing literature and empirical evidence, the study reveals significant benefits such as increased compliance and simplified tax structure, alongside challenges including tax burden on smaller businesses and implementation issues. The findings underscore the need for continued refinement of GST to enhance its benefits and mitigate drawbacks.
References
Gupta, R., & Gupta, S. (2019). Goods and Services Tax in India: An Overview. Journal of Indian Economy, 7(1), 23-34.
Kumar, A. (2021). The Impact of GST on Business: A Review. International Journal of Business Economics, 16(3), 45-59.
Reserve Bank of India. (2018). GST: A Game Changer for India's Economy. RBI Publications.
Sharma, P., & Kumar, R. (2020). Effects of GST on Small and Medium Enterprises in India. Journal of Small Business Management, 58(4), 691-707.
Kumar, A. (2021). The Impact of GST on Business: A Review. International Journal of Business Economics, 16(3), 45-59.
Reserve Bank of India. (2018). GST: A Game Changer for India's Economy. RBI Publications.
Sharma, P., & Kumar, R. (2020). Effects of GST on Small and Medium Enterprises in India. Journal of Small Business Management, 58(4), 691-707.
How to Cite
Dash, A. (2020). POSITIVE AND NEGATIVE IMPACT OF GST ON THE INDIAN MARKET ECONOMY. International Journal of Applied Service Marketing Perspectives, 9(2), 1-4. Retrieved from https://asmp.gfer.org/index.php/asmp/article/view/49
Section
Articles
