International Research journal of Management Science and Technology

  ISSN 2250 - 1959 (online) ISSN 2348 - 9367 (Print) New DOI : 10.32804/IRJMST

Impact Factor* - 6.2311


**Need Help in Content editing, Data Analysis.

Research Gateway

Adv For Editing Content

   No of Download : 146    Submit Your Rating     Cite This   Download        Certificate

GST - THE ISSUE OF THE DAY

    2 Author(s):  AJAY YADAV , DR. SWETA GOEL

Vol -  10, Issue- 4 ,         Page(s) : 69 - 72  (2019 ) DOI : https://doi.org/10.32804/IRJMST

Abstract

The taxation experts have been of the opinion that any kind of levy in the form of tax should be equitable, painless and easy for the taxpayers and for them who experience the final incidence of tax. GST was initiated in 2002 by the government to design a one tax system by' amalgamating forty indirect taxes and cess. Many knowledge people in the area of fiscal finance had also suggested GST"s implementation at one 014 the other time. It was firmly decided in 2006 that the unified tax will be implemented from 1st April 2010. However, various reasons in the backdrop of geo-politics, administrative and infrastructure did not allow the government to start the GST. When it was implemented from July 1, 2017 by the present government , there started a lot of confusion , tensions .. and delays in fi ling the returns. The theft of tax also began as a traditional habit of the dea]ers and traders. This created a double whammy for the government and the people sitting in the chairs of various councils and committees of the GST. The traders face the problems of complicated returns" composition scheme" TDS .. tax credits and refunds. The areas of international trade (imports and exports) have been facing the problem of the GST refunds. It led to the problems of working capital for the importers and exporters. The tension of working capital further generated the trend of slow production and manufacturing which have impinge up on the GDP, Trade Deficit and the Fiscal deficit. On the basis of discussions and deliberations in the meets of three big business lobbies (FICCI , CII and ASSOCHAM) of the country, it mav be suggested that the grievances of companies, dealers .. and traders problems should be solved bv having the meeting with them.

*Contents are provided by Authors of articles. Please contact us if you having any query.






Bank Details