Goods and Service Tax: Awareness and Opinion of The Indian Youth

The goods and service tax is a major transformational move leading to a new tax regime. The new structure will result into “one country, one tax”.Goods and Service tax is a destination based tax applied on sale of goods and services rather than manufacture/production. The game changer GST will provide seamless input tax credit at all levels of value addition leading the ultimate consumer to bear the GST of only the last dealer. It would lead to abolition of multiple taxes applied in the present tax structure leading to mitigation of cascading effect of taxes, widening of tax base, ease of doing business, increased competitiveness of domestic products. Withtheroll out of GST on July 1, 2017, a plethora of opinions and views have aroused. The understanding and cooperation in the implementation of GST is crucial for the people of the nation as it has a major impact on them. Youth arethe pillars of the nation who will lead a better tomorrow. Therefore, this paper carries a study to identify the level of awareness and opinion regarding the new tax regime among the youth of India. With a random sample, questionnaire based survey was adopted as a tool for the study.