Research Scholar, University of Calcutta, Kolkata, Email: aroy_87@outlook.com
The Goods and Services Tax (GST) is going to be the most crucial and significant tax reform in India post-independence. The proposed GST regime will make India a tax neutral national market by subsuming most of the prevailing indirect taxes. It will simplify the existing heterogeneous indirect tax system by eliminating tax cascading and multiple tax levy. The paper highlights the flaws of current indirect tax structure, the evolution process of GST in India and the proposed Concurrent Dual GST Model. The paper further explores various benefits of GST from the point of view of different stakeholders. Finally, the paper throws light on some concerns and draws a conclusion after giving some recommendations.
Tax, Indirect Tax, Goods and Services Tax, Tax Reform, Cascading Effect, Input Tax Credit
