A Study on Goods and Services Tax (GST)

A Study on Goods and Services Tax (GST)

Arjoo Naushad Shekh1, PROF. RAMESHWARI AKOLKAR2

1PG Student, Master of Management Studies arzooshaikh269@gmail.com

2 Head of Department, Master of Management Studies, Alamuri Ratnamala Institute of Engineering and Technology

---------------------------------------------------------------------***---------------------------------------------------------------------

Abstract –

The Goods and Services Tax (GST) is a type of indirect tax that has replaced various other indirect taxes in many countries, including India. It is designed to simplify the tax structure and make it more transparent. Instead of multiple taxes at different stages of production and distribution, GST consolidates them into a single tax at the point of consumption

Goods and Services Tax is an indirect tax to support and enhance the economic growth of the country. Most of the Developed countries have implemented Goods and Services Tax Bill (GST). However, in India, GST was established in 1999. A committee was set up to design the model of GST. But GST was re-launched on 1 July 2017 by the Indian government. There was a big hue and cry for its implementation. The GST replaced all the multiple taxes which were taken by state and central government. That is why it is said One Nation One Tax which means there is no need to pay any other tax in all over the country. The study systematically reviews the impact of GST in India. The study provides the bibliometric visualization and sentiment analysis of Goods and Services Tax (GST). It was found that the government’s motive of GST was to bring all the citizens of the nation under the tax and to prevent the flow of black money. But it was observed that lots of Indian citizens’ sentiments were in a dilemma. So it is recommended to revisit the structure and keep a scope of continuous improvement

Key Words: GST, Goods and Services Tax (GST), Tax, Goods and Services Tax Bill, Sentiment Analysis