GST in India: Expectations and challenges

Ratul Mahanta

doi:10.20896/saci.v4i2.215

Vol. 4 No. 2 (2016)
Space and Culture, India

Reviews

GST in India: Expectations and challenges

Published 2016-11-16

Ratul Mahanta

Ratul Mahanta
Gauhati University, Assam

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Received 2016-10-07
Accepted 2016-10-17
Published 2016-11-16

Abstract

India is ready to implement its â€œGoods and Services Tax (GST)â€ act from 1st April 2017. It is expected that GST will minimise all the loopholes of existing tax system in India. However, critics argue that the euphoria over GST camouflages the deadly assault to tax policy as a means of promoting equity and efficiency. This review on GST highlights the challenges over GST claims. It has been observed that to implement GST effectively, both centre and state have to go hand in hand.

Keywords

Cascading Effect of Tax, Tax Buoyancy, Vertical Fiscal Imbalance, Make in India, India

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Author Biography

Ratul Mahanta

Assistant Professor, Department of Economics, Gauhati University Guwahati-781 014, Assam, India

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