Review on Global Implications of Goods and Service Tax and Its Indian Scenario

Saudi Journal of Business and Management Studies, 4(4), 337-358. ISSN 2415-6663, Scholars Middle East Publishers, Dubai, United Arab Emirates. (2019).

28 Pages Posted: 7 Jun 2019

See all articles by R. Revathi

R. Revathi

Srinivas Institute of Management Studies

Madhushree

Srinivas Institute of Management Studies

P. S. Aithal

Srinivas Institute of Management Studies

Date Written: April 30, 2019

Abstract

Goods and Service tax is tax regime adopted by 160 countries over the globe in order to evade cascading of tax in the economy. India introduced GST in the year 2017 whereas many other countries implemented GST many years before in their tax system. France was the primary country to adopt this single tax system in 1954 and followed by Germany, Italy, Japan, South Korea. GST is one of the top initiatives taken by most of the countries for a structured and developed economy. A value-added tax levied on mainly goods and services provided or sold for domestic or household consumption is called Goods and Service Tax. GST provides revenue or income for the government in the growth procedure of the economy. The section of GST which is accumulated or collected from the consumers by the business or seller of the goods forwarded to the government. In some countries, Goods and Service Tax is also acknowledged as Value Added Tax. This review paper focused on the implications of GST on different countries economy and its collision on the society. Many scholars have researched on this topic before and after the implementation in India. The paper throws light on the various aspects of GST, and how it affects different industrial sectors in the economy. The paper also analyses how various researchers have interpreted their study about GST, its future implications, and impacts in their countries with special emphasis on India.

Keywords: Goods and Service tax, Value added Tax, ASEAN, Asia, Europe, Oceania, India

Suggested Citation

Revathi, R. and Madhushree and Aithal, P. S., Review on Global Implications of Goods and Service Tax and Its Indian Scenario (April 30, 2019). Saudi Journal of Business and Management Studies, 4(4), 337-358. ISSN 2415-6663, Scholars Middle East Publishers, Dubai, United Arab Emirates. (2019).. Available at SSRN: https://ssrn.com/abstract=3391890

R. Revathi

Srinivas Institute of Management Studies

Srinivas Campus, Mangaladevi Road
Pandeshwar
Mangalore, 575001
India

Madhushree

Srinivas Institute of Management Studies

Srinivas Campus, Mangaladevi Road
Pandeshwar
Mangalore, 575001
India

P. S. Aithal (Contact Author)

Srinivas Institute of Management Studies ( email )

Srinivas Campus
Pandeshwar
Mangalore, Mangalore 575001
India
9343348392 (Phone)

HOME PAGE: http://www.srinivasuniversity.ac.in

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