REVIEW PAPER- “A STUDY ON GOODS AND SERVICES TAX (GST)”

REVIEW PAPER- “A STUDY ON GOODS AND SERVICES TAX (GST)”

First Author: Ms. Archana Virendra Sharma

PG Student, ARMIET, Mumbai University, archanasharma2935@gmail.com

Co-Author: PROF. SHITAL SHAH

HOD MMS Department, ARMIET, ashwinikshirsagar217@gmail.com

ABSTRACT

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.

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.