Essay on gst and its impact

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Positive and negative effects of GST

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Long and Short Essay on GST in English for Children and Students

A just and viable tax regime is vital for the sustainable economic growth and fiscal consolidation of any economy in the world. This assumes a greater importance in a developing economy like India where although we have a high demographic dividend, we are yet to convert it to the proportionate human capital, which will in turn benefit the social and economic growth of the country. In order to facilitate this, we need a conducive environment as we push forward towards becoming a better developed nation. In order to become a more economically developed nation, we need a transparent, just, equitable and fair taxation system that is easy to administer. The essential rationale behind this is that the taxation system should be reasonable and non-discriminatory in respect to both the direct taxes payable by individuals and the indirect taxes payable by corporations and industries so as to make them more tax-compliant and bring the larger populace in the taxation net to in turn aid the government in taking development projects.
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Impact of GST on Indian Economy

Please join StudyMode to read the full document. What dissuades setting up of manufacturing and distribution centres within municipal boundaries of Maharashtra? Why do leading FMCG companies have as many as 20 warehouses across country when they need only 5 or 6? The supply chain and its efficiency are of tremendous significance in this competitive market scenario. There are several forces which impact a supply chain: some intrinsic to the organization, some market specific and others fiscal in nature.
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Pushing all opposition aside, however, the GST was rolled out for the general public, bringing about a massive change in the day to day economy for the people. Three months on, the GST has become pretty much part and parcel of our lives. Economists and financial experts have variously called the GST great and senseless, with many calling India unprepared for such a drastic step.
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