Economics, Econometrics and Finance
4 years ago

Global Adoption of Goods and Service Tax Revolutionizes Economies Worldwide

SSRN Electronic Journal
Review on Global Implications of Goods and Service Tax and Its Indian Scenario
R. Revathi, Madhushree Madhushree, P. S. Aithal

Paper Summary

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Goods and Service Tax (GST) is a tax system used by many countries to prevent double taxation. India adopted GST in 2017, following other countries like France and Germany. GST is a tax on goods and services sold for personal use, providing revenue for the government. This review paper examines how GST impacts different countries' economies and societies, focusing on India. It discusses the effects of GST on various industries and how researchers have studied its implications and future impacts.