A STUDY ON DISTRIBUTORS PERCEPTION TOWARDS GOODS AND SERVICE TAX IN COCHIN CITY

A STUDY ON DISTRIBUTORS PERCEPTION TOWARDS GOODS AND SERVICE TAX IN COCHIN CITY

GEETHU JOHNSON

ASSISTANT PROFESSOR

AQUINAS COLLEGE, EDACOCHIN

ERNAKULAM, KERALA STATE

ABSTRACT The Goods and Services Tax (GST) is a value added tax to be implemented in India, the decision on which is pending. GST is the only indirect tax that directly affects all sectors and sections of our economy. Ignorance of law is no excuse but is liable to panel provisions, hence why not start learning GST and avoid the cost of ignorance. Therefore, we all need to learn it whether willingly or as compulsion. The goods and services tax (GST) is aimed at creating a single, unified market that will benefit both corporate and the economy. The changed indirect tax system GST-Goods and service tax is planned to execute in India. Several countries implemented this tax system followed by France, the first country introduced GST. Goods and service tax is a new story of VAT which gives a widespread setoff for input tax credit and subsuming many indirect taxes from state and national level.

Key words:  GST, Indirect Tax, Set off Input Tax Credit, VAT.