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What is Impact of GST on India about?

The GST is expected to be implemented on July 1, 2017 and will replace multiple indirect taxes with a single indirect tax across India. Empirical evidence suggests GST will improve tax collection and government finances over the medium term by reducing evasion. GST is based on VAT systems in other countries that have proven more efficient than sales taxes. GST implementation will profoundly impact state finances positively in several ways such as increasing the shared tax pool and strengthening cooperative

Author

kgiyer

Language

EN