REVOLUTIONARY IMPACT OF GST ON INDIAN INDUSTRIAL SECTORS

ABSTRACT

In this paper I illustrated the economic structure in India is the basis of such an amazing withstand that is to say, the introduction of Goods and Services Tax (GST) as a multipoint tax system is an another milestone in the economic growth by enveloping all indirect taxes and avoiding cascading effect in taxation to create India as a single uni?ed common market all over the world. The implementation of GST will reduce tax burden on manufacturers and thus encourages for the higher production. This process will increase the export of India and it will increase the total GNP. Avoidance of cascading effect empowers the manufacturers to produce to their optimum capacity and retards growth.