Impact of Goods & Services Tax: The Global Experiences Vis-à-Vis the Domestic Expectations
12 Pages Posted: 1 Nov 2017
Date Written: October 31, 2017
Since the indirect taxation is the prime source of tax revenue it must be effectively implemented and reformed from time to time to finance majority of the public expenditures for social welfare. One such major Indirect Tax Reform is the implementation of Goods and Services Tax (GST) in India. It is a much awaited Indirect Tax revolution to foster the economic growth in India. In this article an effort will be made to explore the effect of the GST or similar nature tax system on the economies where it has already been introduced and also to generate some expectation based on those experiences from recently implemented GST in the context of Indian economy. It would be unwise to pass any comment at this point of time regarding the impact of GST on Indian economy. However based on some initial data early signs can be explored.
Keywords: Indirect Taxation, Public Expenditure, GST, Reform
JEL Classification: K34, E31, E62, H2
Suggested Citation: Suggested Citation