EXAMINING THE EMPIRICAL IMPACT AND CONSEQUENCES OF GOODS AND SERVICE TAX: A POST COVID STUDY

The worldwide tax system known as the goods and services tax has been introduced in every country on the planet. This tax is utilised extensively in many countries throughout the world. In the latter decades of the 20th century, someone initially came up with the concept of something similar to this. The culmination of the processes of reduction and rationalisation that were undertaken at the behest of corporate monopoly capitalism is the actualization of that capitalism. The timing of demonetization, in addition to being the primary issue, was an important contributor to its implementation in India. This exemplifies the unwavering support that India's ruling class has provided for the consolidation of gains won by national and foreign capital over the course of the past few decades. It is very feasible for even attentive bystanders to be bewildered by the developing events, particularly in light of the fact that taxes are being reduced, there is a proliferation of concessions in finance, regulations, and processes, and power is being centralised. The document combines a variety of counterarguments against the Goods and Services Tax (GST) that come from different points of view. These arguments come from a variety of different viewpoints, including political and economic ones.

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Keywords: GST, Indian Economy, Manufacturing Industry, Garment Business, Services Tax.


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