Mr. Arun Gautam, Dr. Tina Shivnani, Vol. 2, No. 2, pp. 7-12, Jun. 2018
10.22662/IJEMR.2018.2.2.007, Full Text:
Keywords: India, Indirect Tax, GST, GOODS and Service Tax, Tax.

Abstract

"Background/Objectives: GST is one of the most important tax reforms in India which was started by Vishwanath Pratap Singh in 1986, but due to various problem it is still pending. Methods/Statistical analysis: Then again GST was proposed in 1999 by prime minister Atal Bhiari Vajpayee, but still pending due to political issue, in 2002, again Vajpayee government recommended GST. This recommended process continuous goes from long time, but in 2014, the NDA government was introduced the GST bill in Rajya Sabha and Lok Sabha. Finally, in Aug 2016. The GST was launched at mid night 1 July 2017, by the president of India, Pranab Mukherjee. Several big challenges is there before implement the GST such as type of GST distribution (CGST, SGST, IGST and UGST), a lot of discussion has taken place in the parliament about the distribution and rate of GST. Findings: After survey of tax rate Mr. Jaitely was finalized tax rate 0%, 5%, 12%, 18% and 28%.The Centre will compensate the states for any loss due to GST for the first five years. Improvements/Applications: Before the implementation of GST a five member panel of minister, discuss the problem of online procedure of problem. "

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