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GST is an emerging phenomenon in our country. It is applicable to whole of India. The introduction of Goods and Services Tax on 1st of July 2017 was a very significant step in the field of indirect tax reforms in India. The subsume of large number of Central and State taxes into a single tax, the aim was to mitigate cascading or double taxation in a major way and pave the way for a common national market. Introduction of GST would also make Indian products more competitive in the domestic and international markets. Last but not least, this tax, because of its transparent and self-policing character, would be easier to administer. People have different views and opinions about the rules, regulations and procedures of GST. There is confusion among the manufacturers, sellers, consumers etc. due to the variation in the prices of the same product in different states and also the five slabs of GST rate indicate question mark about uniform tax policy. The purpose of this study is to assess the impact of reforms on tax review in short run and perception or impact of reforms on different stakeholders.
About the author
Dr. Sanjeeb Kumar Dey, M.Com, MBA (Finance), CA (Inter), UGC-NET, Ph.D. is currently working as Assistant Professor in Commerce, Ravenshaw University, Odisha, India. Dr. Laxmikanta Das, M.Com, MBA, UGC-NET is currently working as Manager, Bandhan Bank Ltd., Odisha.Dr. Abhaya Kumar Panda, M.Com, MBA, Ph.D. is working as Director, BCET, Odisha.
