A Review over Challenges and Opportunities of GST in Madhya Pradesh State
Year: 2025
Type: article
Abstract: : The “Goods and Services Tax (GST)” is the biggest and most consequential indirect tax reform that India has undertaken since gaining independence. It intends to tax all goods and services in India with a single national levy. India is becoming a more tax-collecting nation with a more integrated national economy thanks to the “Goods and Services Tax (GST)”. Improving efficiency has the potential to greatly support growth and government spending plans. It is possible that the current, expansive federal government will be the first of its kind to impose a new tax on goods and services. There is a comprehensive and ongoing chain of set-off benefits that extends all the way to the merchant level under the “Goods and Services Tax (GST)”. This means that it is only applied to the value contributed at each level, and that providers may claim back the GST they paid for products and services via a credit system. Last but not least, the responsibility for paying GST ultimately falls on the goods or service's end user, often known as the customer. With the introduction of GST in India, this study attempted to assess the benefits and drawbacks of the new tax system.
Authors: Singh, Setu, Yadav, Dr. Santosh Kumar
Language: English
Topic: Economic and Fiscal Studies
Subfield: Economics and Econometrics
Domain: Social Sciences
Open Access status: green
OpenAlex ID: W6893407754
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