SlideShare a Scribd company logo
IMPACT OF GST ON
INDIAN ECONOMY
About GST :
 The concept of goods and services tax
popularly known as GST
 The GST will have a 'dual' structure,
which means it will have two
components- the Central GST and the
State GST
 GST is expected to simplify tax
administration, ensure ‘Ease of Doing
Business’ and promote ‘Make in India’
Objective of the study:-
 To study about GST and its impact on
indian economy
 To examine benefits of Goods and
Service tax.
IMPACT ON INDIAN
ECONOMY
 It will reshape the indirect tax
structure by a subsuming majority of
indirect taxes like excise, sales and
services levies
 This will do away with the complex
indirect tax structure of the country,
thus improving the ease of doing
business in the country
1.Reshapes Indirect Tax
Structure
2.Exports:
 Exports will become competitive as the
GST regime will eliminate the cascading
impact of taxes.
 GST could boost India’s GDP growth by
0.9-1.7 per cent.
 GST is a key for India’s gross domestic
product in times of challenging global
environment
3.Gross Domestic Product
 The GST will bring about a qualitative
change in the tax system by
redistributing the burden of taxation
equitably between manufacturing and
services
 impact on growth due to reduction in
direct cost and cost reduction on capital
inputs pegged the improvement in
growth rates between 1.5 and 2 per
cent.
4.Inflation:
 If the rates are set at
6,12,18,26,4 ℅ CPI
(Consumer price
index ) could
decreased by 0.06
percentage points.
5. Foreign Exchange
 The passing of the GST will be welcome
news for the Indian rupee (INR).
 GST will lead to higher foreign direct
investment inflows and a narrow current
account deficit-factors that should help
the rupee increase
6. Impact on Make–in–
India
 The tax reforms through GST will play a
crucial role to attract large-scale
investment
 The impending GST promises a
progressive tax system which avoids tax
cascades and helps establish India as a
true common market.
 GST will reduce the cost of production
and allows the hassle free supply of
goods
7.Unification of Market
 GST will lead to the creation of a unified market,
which would facilitate seamless movement of
goods across states and reduce the transaction
cost of businesses.
 Presently 11 categories of taxes are levied on the
road transport sector.
 The GST will help bring down logistical costs.
8.Clean–up India
 The clean-up of the Indian taxation
system will reduce the number of excise
duty exemptions.
 According to the estimates, excise tax
exemptions result in foregone revenues
of Rs. 1.8 lakh crore
 India loses about 2.7 percent of GDP
because of these exemptions.
9.FOREIGN TRADE
 GST is a solution provider by lining up
total indirect tax structure of all streams
into one single tax payable by the
companies
 The impact of this will be on the all
multinational companies and facilitates
for ease of doing business and adds
factor to the globalization and
liberalization
BENEFITS OF GST :
 For business and industry
 – Easy compliance
 – Removal of cascading effect
 – Improved competitiveness
 For Central and State Governments
 – Simple and easy to administer
 – Better controls on leakage
 – Consolidation of tax base
 – Higher revenue efficiency
BENEFITS OF GST :
 For the consumer
 – Single and Transparent tax
proportionate to the value of goods and
services
 – Reduction of prices
Conclusion:-
 It can be concluded from the above
discussion that GST will provide relief to
producers and consumers by providing
wide and comprehensive coverage of input
tax credit set-off
 Efficient formulation of GST will lead to
resource and revenue gain for both Centre
and States
 It can be further concluded that GST have
a positive impact on indian sectors and
industry
Thank You …

More Related Content

What's hot

HISTORY OF GST IN INDIA
HISTORY OF GST IN INDIAHISTORY OF GST IN INDIA
HISTORY OF GST IN INDIA
Kanchan Agarwal
 
GST PRESENTATION
GST PRESENTATIONGST PRESENTATION
GST PRESENTATION
CA Gaurav Mishra
 
GST -PPT
GST -PPTGST -PPT
GST -PPT
Ravinder Kumar
 
Understanding the GST
Understanding the GSTUnderstanding the GST
Understanding the GST
Geeta Bansal
 
Economic reforms 1991
Economic reforms 1991 Economic reforms 1991
Economic reforms 1991
Pranav Krishna
 
Gst, introduction, definition, advantages, disadvantages
Gst, introduction, definition, advantages, disadvantagesGst, introduction, definition, advantages, disadvantages
Gst, introduction, definition, advantages, disadvantages
DevadattaSai Cheedella
 
Research report on gst
Research report on gstResearch report on gst
Research report on gst
manish kumar
 
GST AND ITS IMPACT ON GDP.pptx
GST AND ITS IMPACT ON GDP.pptxGST AND ITS IMPACT ON GDP.pptx
GST AND ITS IMPACT ON GDP.pptx
yashjain990094
 
Wto and its impact on indian economy
Wto and its impact on indian economyWto and its impact on indian economy
Wto and its impact on indian economy
kenalpatel
 
GST Impact on Businesses in India
GST Impact on Businesses in IndiaGST Impact on Businesses in India
GST Impact on Businesses in India
AshishAgarwal403
 
Tax structure in india
Tax structure in indiaTax structure in india
Tax structure in india
Manan Nanda
 
Indirect taxes
Indirect taxesIndirect taxes
Indirect taxes
P.Ravichandran Chandran
 
GST - Final PPT
GST - Final PPTGST - Final PPT
GST - Final PPT
ANUP PALARAPWAR
 
GST INDIA
GST INDIA GST INDIA
GST INDIA
Swapnil Borekar
 
India’s foreign trade
India’s foreign tradeIndia’s foreign trade
India’s foreign trade
Ahtezaz Parways
 
Balance of payment
Balance of paymentBalance of payment
Balance of payment
Suresh Thengumpallil
 
Gst.ppt
Gst.pptGst.ppt
Gst.ppt
bunniee
 
GST -Effects On Consumer
GST -Effects On ConsumerGST -Effects On Consumer
GST -Effects On Consumer
Subhash Gupta
 
Research report on gst
Research report on gstResearch report on gst
Research report on gst
tara kumari
 
IMPLEMENTATION OF GST IN INDIA - 1
IMPLEMENTATION OF GST IN INDIA - 1IMPLEMENTATION OF GST IN INDIA - 1
IMPLEMENTATION OF GST IN INDIA - 1
Sowjanya Sampathkumar
 

What's hot (20)

HISTORY OF GST IN INDIA
HISTORY OF GST IN INDIAHISTORY OF GST IN INDIA
HISTORY OF GST IN INDIA
 
GST PRESENTATION
GST PRESENTATIONGST PRESENTATION
GST PRESENTATION
 
GST -PPT
GST -PPTGST -PPT
GST -PPT
 
Understanding the GST
Understanding the GSTUnderstanding the GST
Understanding the GST
 
Economic reforms 1991
Economic reforms 1991 Economic reforms 1991
Economic reforms 1991
 
Gst, introduction, definition, advantages, disadvantages
Gst, introduction, definition, advantages, disadvantagesGst, introduction, definition, advantages, disadvantages
Gst, introduction, definition, advantages, disadvantages
 
Research report on gst
Research report on gstResearch report on gst
Research report on gst
 
GST AND ITS IMPACT ON GDP.pptx
GST AND ITS IMPACT ON GDP.pptxGST AND ITS IMPACT ON GDP.pptx
GST AND ITS IMPACT ON GDP.pptx
 
Wto and its impact on indian economy
Wto and its impact on indian economyWto and its impact on indian economy
Wto and its impact on indian economy
 
GST Impact on Businesses in India
GST Impact on Businesses in IndiaGST Impact on Businesses in India
GST Impact on Businesses in India
 
Tax structure in india
Tax structure in indiaTax structure in india
Tax structure in india
 
Indirect taxes
Indirect taxesIndirect taxes
Indirect taxes
 
GST - Final PPT
GST - Final PPTGST - Final PPT
GST - Final PPT
 
GST INDIA
GST INDIA GST INDIA
GST INDIA
 
India’s foreign trade
India’s foreign tradeIndia’s foreign trade
India’s foreign trade
 
Balance of payment
Balance of paymentBalance of payment
Balance of payment
 
Gst.ppt
Gst.pptGst.ppt
Gst.ppt
 
GST -Effects On Consumer
GST -Effects On ConsumerGST -Effects On Consumer
GST -Effects On Consumer
 
Research report on gst
Research report on gstResearch report on gst
Research report on gst
 
IMPLEMENTATION OF GST IN INDIA - 1
IMPLEMENTATION OF GST IN INDIA - 1IMPLEMENTATION OF GST IN INDIA - 1
IMPLEMENTATION OF GST IN INDIA - 1
 

Viewers also liked

Gst (2017)
Gst (2017)Gst (2017)
Gst (2017)
Tanveer Ahmed
 
GST - Changes and its impact
GST - Changes and its impactGST - Changes and its impact
GST - Changes and its impact
sandesh mundra
 
Gst ppt
Gst pptGst ppt
Gst ppt
Hirak Parmar
 
Synopsis sample for MBA
Synopsis sample for MBASynopsis sample for MBA
Synopsis sample for MBA
Abhilash Haldkar
 
Eco GST & Effect on Indian Economy
Eco  GST &Effect on Indian Economy Eco  GST &Effect on Indian Economy
Eco GST & Effect on Indian Economy
Lalit Chaudhary
 
Impact of Goods and Services Tax (GST) to the Common Man
Impact of Goods and Services Tax (GST) to the Common ManImpact of Goods and Services Tax (GST) to the Common Man
Impact of Goods and Services Tax (GST) to the Common Man
tridentbull
 
Money Supply and its Impact on Inflation and Interest Rate: A case study of I...
Money Supply and its Impact on Inflation and Interest Rate: A case study of I...Money Supply and its Impact on Inflation and Interest Rate: A case study of I...
Money Supply and its Impact on Inflation and Interest Rate: A case study of I...
Gokul K Prasad
 
Insteelhbr case study managerial accounting msb
Insteelhbr case study managerial accounting msbInsteelhbr case study managerial accounting msb
Insteelhbr case study managerial accounting msb
Srikanth Ayithy
 
The impact of inflation, policy rate and government consumption expenditure o...
The impact of inflation, policy rate and government consumption expenditure o...The impact of inflation, policy rate and government consumption expenditure o...
The impact of inflation, policy rate and government consumption expenditure o...
Alexander Decker
 
GST BILL,2016 ppt
GST BILL,2016 pptGST BILL,2016 ppt
GST BILL,2016 ppt
Pawan Pathak
 
An overview of Goods and Services tax in India
An overview of Goods and Services tax in IndiaAn overview of Goods and Services tax in India
An overview of Goods and Services tax in India
Kushal Setty
 
Transitional Provision Under GST
Transitional Provision Under GSTTransitional Provision Under GST
Transitional Provision Under GST
MASOOM SEKHAR SAHOO
 
GSTR 3B Guide - ClearTax
GSTR 3B Guide - ClearTaxGSTR 3B Guide - ClearTax
GSTR 3B Guide - ClearTax
MASOOM SEKHAR SAHOO
 
Cleartax GST Offline Guide
Cleartax GST Offline GuideCleartax GST Offline Guide
Cleartax GST Offline Guide
MASOOM SEKHAR SAHOO
 
GST Input Tax Credit
GST Input Tax CreditGST Input Tax Credit
GST Input Tax Credit
MASOOM SEKHAR SAHOO
 
GST Overview - Know about Goods and Service Tax in India
GST Overview - Know about Goods and Service Tax in IndiaGST Overview - Know about Goods and Service Tax in India
GST Overview - Know about Goods and Service Tax in India
MASOOM SEKHAR SAHOO
 

Viewers also liked (16)

Gst (2017)
Gst (2017)Gst (2017)
Gst (2017)
 
GST - Changes and its impact
GST - Changes and its impactGST - Changes and its impact
GST - Changes and its impact
 
Gst ppt
Gst pptGst ppt
Gst ppt
 
Synopsis sample for MBA
Synopsis sample for MBASynopsis sample for MBA
Synopsis sample for MBA
 
Eco GST & Effect on Indian Economy
Eco  GST &Effect on Indian Economy Eco  GST &Effect on Indian Economy
Eco GST & Effect on Indian Economy
 
Impact of Goods and Services Tax (GST) to the Common Man
Impact of Goods and Services Tax (GST) to the Common ManImpact of Goods and Services Tax (GST) to the Common Man
Impact of Goods and Services Tax (GST) to the Common Man
 
Money Supply and its Impact on Inflation and Interest Rate: A case study of I...
Money Supply and its Impact on Inflation and Interest Rate: A case study of I...Money Supply and its Impact on Inflation and Interest Rate: A case study of I...
Money Supply and its Impact on Inflation and Interest Rate: A case study of I...
 
Insteelhbr case study managerial accounting msb
Insteelhbr case study managerial accounting msbInsteelhbr case study managerial accounting msb
Insteelhbr case study managerial accounting msb
 
The impact of inflation, policy rate and government consumption expenditure o...
The impact of inflation, policy rate and government consumption expenditure o...The impact of inflation, policy rate and government consumption expenditure o...
The impact of inflation, policy rate and government consumption expenditure o...
 
GST BILL,2016 ppt
GST BILL,2016 pptGST BILL,2016 ppt
GST BILL,2016 ppt
 
An overview of Goods and Services tax in India
An overview of Goods and Services tax in IndiaAn overview of Goods and Services tax in India
An overview of Goods and Services tax in India
 
Transitional Provision Under GST
Transitional Provision Under GSTTransitional Provision Under GST
Transitional Provision Under GST
 
GSTR 3B Guide - ClearTax
GSTR 3B Guide - ClearTaxGSTR 3B Guide - ClearTax
GSTR 3B Guide - ClearTax
 
Cleartax GST Offline Guide
Cleartax GST Offline GuideCleartax GST Offline Guide
Cleartax GST Offline Guide
 
GST Input Tax Credit
GST Input Tax CreditGST Input Tax Credit
GST Input Tax Credit
 
GST Overview - Know about Goods and Service Tax in India
GST Overview - Know about Goods and Service Tax in IndiaGST Overview - Know about Goods and Service Tax in India
GST Overview - Know about Goods and Service Tax in India
 

Similar to Impact of GST on Indian Economy

GST Presentation
GST Presentation GST Presentation
GST Presentation
Subrata Mandal
 
GSt
GSt GSt
GSt
mohan7927
 
Benefits of GST for india
Benefits of GST for indiaBenefits of GST for india
Benefits of GST for india
Sanjay Bhat
 
Bhagyashree H. Chauhan (GST)
Bhagyashree H. Chauhan (GST)Bhagyashree H. Chauhan (GST)
Bhagyashree H. Chauhan (GST)
Bhagyashree Chauhan
 
GST - BOON OR BANE TO INDIAN ECONOMY.pptx
GST - BOON OR BANE TO INDIAN ECONOMY.pptxGST - BOON OR BANE TO INDIAN ECONOMY.pptx
GST - BOON OR BANE TO INDIAN ECONOMY.pptx
21M220KARTHIKEYANC
 
Goods & Service Tax
Goods & Service TaxGoods & Service Tax
Goods & Service Tax
LuckyLodha
 
Good and service tax (gst)
Good and service tax (gst)Good and service tax (gst)
Good and service tax (gst)
Avi Vani
 
Does Goods and Services Tax (GST) Leads to Indian Economic Development?
Does Goods and Services Tax (GST) Leads to Indian Economic Development?Does Goods and Services Tax (GST) Leads to Indian Economic Development?
Does Goods and Services Tax (GST) Leads to Indian Economic Development?
iosrjce
 
A Pre Experimental Study to Assess the Effectiveness of Planned Teaching Prog...
A Pre Experimental Study to Assess the Effectiveness of Planned Teaching Prog...A Pre Experimental Study to Assess the Effectiveness of Planned Teaching Prog...
A Pre Experimental Study to Assess the Effectiveness of Planned Teaching Prog...
ijtsrd
 
A COMPARATIVE STUDY OF GST VAT IN THREE CONSECUTIVE TERMS WITH SPECIAL REF...
A COMPARATIVE STUDY OF GST   VAT IN THREE CONSECUTIVE TERMS  WITH SPECIAL REF...A COMPARATIVE STUDY OF GST   VAT IN THREE CONSECUTIVE TERMS  WITH SPECIAL REF...
A COMPARATIVE STUDY OF GST VAT IN THREE CONSECUTIVE TERMS WITH SPECIAL REF...
Sheila Sinclair
 
What is GST and its Impact on current entrepreneurs ?
What is GST and its Impact on current entrepreneurs ?What is GST and its Impact on current entrepreneurs ?
What is GST and its Impact on current entrepreneurs ?
Zaheer Sayyed
 
[GST] Goods & service Taxes
[GST] Goods & service Taxes [GST] Goods & service Taxes
[GST] Goods & service Taxes
Harish Bramhaver
 
3310 pdf
3310 pdf3310 pdf
GST Bill- Bull run or Bear slide
GST Bill- Bull run or Bear slideGST Bill- Bull run or Bear slide
GST Bill- Bull run or Bear slide
SWAROOP PANDAO
 
Gst in india
Gst in indiaGst in india
Gst in india
Rupa R
 
[GST] Goods and service taxes In India
[GST] Goods and service taxes In India [GST] Goods and service taxes In India
[GST] Goods and service taxes In India
Harish Bramhaver
 
GST
GSTGST
GST(Goods And Service Tax)
GST(Goods And Service Tax)GST(Goods And Service Tax)
GST(Goods And Service Tax)
Ashiwani Atul
 
Gs tin india
Gs tin indiaGs tin india
Gs tin india
Rahish Ali
 
GST: Freedom from multiple taxes - Dr Sanjiv Agarwal
GST: Freedom from multiple taxes - Dr Sanjiv AgarwalGST: Freedom from multiple taxes - Dr Sanjiv Agarwal
GST: Freedom from multiple taxes - Dr Sanjiv Agarwal
D Murali ☆
 

Similar to Impact of GST on Indian Economy (20)

GST Presentation
GST Presentation GST Presentation
GST Presentation
 
GSt
GSt GSt
GSt
 
Benefits of GST for india
Benefits of GST for indiaBenefits of GST for india
Benefits of GST for india
 
Bhagyashree H. Chauhan (GST)
Bhagyashree H. Chauhan (GST)Bhagyashree H. Chauhan (GST)
Bhagyashree H. Chauhan (GST)
 
GST - BOON OR BANE TO INDIAN ECONOMY.pptx
GST - BOON OR BANE TO INDIAN ECONOMY.pptxGST - BOON OR BANE TO INDIAN ECONOMY.pptx
GST - BOON OR BANE TO INDIAN ECONOMY.pptx
 
Goods & Service Tax
Goods & Service TaxGoods & Service Tax
Goods & Service Tax
 
Good and service tax (gst)
Good and service tax (gst)Good and service tax (gst)
Good and service tax (gst)
 
Does Goods and Services Tax (GST) Leads to Indian Economic Development?
Does Goods and Services Tax (GST) Leads to Indian Economic Development?Does Goods and Services Tax (GST) Leads to Indian Economic Development?
Does Goods and Services Tax (GST) Leads to Indian Economic Development?
 
A Pre Experimental Study to Assess the Effectiveness of Planned Teaching Prog...
A Pre Experimental Study to Assess the Effectiveness of Planned Teaching Prog...A Pre Experimental Study to Assess the Effectiveness of Planned Teaching Prog...
A Pre Experimental Study to Assess the Effectiveness of Planned Teaching Prog...
 
A COMPARATIVE STUDY OF GST VAT IN THREE CONSECUTIVE TERMS WITH SPECIAL REF...
A COMPARATIVE STUDY OF GST   VAT IN THREE CONSECUTIVE TERMS  WITH SPECIAL REF...A COMPARATIVE STUDY OF GST   VAT IN THREE CONSECUTIVE TERMS  WITH SPECIAL REF...
A COMPARATIVE STUDY OF GST VAT IN THREE CONSECUTIVE TERMS WITH SPECIAL REF...
 
What is GST and its Impact on current entrepreneurs ?
What is GST and its Impact on current entrepreneurs ?What is GST and its Impact on current entrepreneurs ?
What is GST and its Impact on current entrepreneurs ?
 
[GST] Goods & service Taxes
[GST] Goods & service Taxes [GST] Goods & service Taxes
[GST] Goods & service Taxes
 
3310 pdf
3310 pdf3310 pdf
3310 pdf
 
GST Bill- Bull run or Bear slide
GST Bill- Bull run or Bear slideGST Bill- Bull run or Bear slide
GST Bill- Bull run or Bear slide
 
Gst in india
Gst in indiaGst in india
Gst in india
 
[GST] Goods and service taxes In India
[GST] Goods and service taxes In India [GST] Goods and service taxes In India
[GST] Goods and service taxes In India
 
GST
GSTGST
GST
 
GST(Goods And Service Tax)
GST(Goods And Service Tax)GST(Goods And Service Tax)
GST(Goods And Service Tax)
 
Gs tin india
Gs tin indiaGs tin india
Gs tin india
 
GST: Freedom from multiple taxes - Dr Sanjiv Agarwal
GST: Freedom from multiple taxes - Dr Sanjiv AgarwalGST: Freedom from multiple taxes - Dr Sanjiv Agarwal
GST: Freedom from multiple taxes - Dr Sanjiv Agarwal
 

Recently uploaded

1比1复刻(ksu毕业证书)美国堪萨斯州立大学毕业证本科文凭证书原版一模一样
1比1复刻(ksu毕业证书)美国堪萨斯州立大学毕业证本科文凭证书原版一模一样1比1复刻(ksu毕业证书)美国堪萨斯州立大学毕业证本科文凭证书原版一模一样
1比1复刻(ksu毕业证书)美国堪萨斯州立大学毕业证本科文凭证书原版一模一样
28xo7hf
 
BIHC Briefing June 2024 from Bank+Insurance Hybrid Capital in association wit...
BIHC Briefing June 2024 from Bank+Insurance Hybrid Capital in association wit...BIHC Briefing June 2024 from Bank+Insurance Hybrid Capital in association wit...
BIHC Briefing June 2024 from Bank+Insurance Hybrid Capital in association wit...
Neil Day
 
Bridging the gap: Online job postings, survey data and the assessment of job ...
Bridging the gap: Online job postings, survey data and the assessment of job ...Bridging the gap: Online job postings, survey data and the assessment of job ...
Bridging the gap: Online job postings, survey data and the assessment of job ...
Labour Market Information Council | Conseil de l’information sur le marché du travail
 
欧洲杯投注-欧洲杯投注买球-欧洲杯投注买球网|【​网址​🎉ac22.net🎉​】
欧洲杯投注-欧洲杯投注买球-欧洲杯投注买球网|【​网址​🎉ac22.net🎉​】欧洲杯投注-欧洲杯投注买球-欧洲杯投注买球网|【​网址​🎉ac22.net🎉​】
欧洲杯投注-欧洲杯投注买球-欧洲杯投注买球网|【​网址​🎉ac22.net🎉​】
brunasordi905
 
South Dakota State University degree offer diploma Transcript
South Dakota State University degree offer diploma TranscriptSouth Dakota State University degree offer diploma Transcript
South Dakota State University degree offer diploma Transcript
ynfqplhm
 
Governor Olli Rehn: Inflation down and recovery supported by interest rate cu...
Governor Olli Rehn: Inflation down and recovery supported by interest rate cu...Governor Olli Rehn: Inflation down and recovery supported by interest rate cu...
Governor Olli Rehn: Inflation down and recovery supported by interest rate cu...
Suomen Pankki
 
PM pre reads for the product manager framework
PM pre reads for the product manager frameworkPM pre reads for the product manager framework
PM pre reads for the product manager framework
KishoreKatta6
 
TechnoXander Confirmation of Payee Product Pack 1.pdf
TechnoXander Confirmation of Payee Product Pack 1.pdfTechnoXander Confirmation of Payee Product Pack 1.pdf
TechnoXander Confirmation of Payee Product Pack 1.pdf
richardwellington119
 
FCCS Basic Accounts Outline and Hierarchy.pptx
FCCS Basic Accounts Outline and Hierarchy.pptxFCCS Basic Accounts Outline and Hierarchy.pptx
FCCS Basic Accounts Outline and Hierarchy.pptx
nalamynandan
 
一比一原版美国新罕布什尔大学(unh)毕业证学历认证真实可查
一比一原版美国新罕布什尔大学(unh)毕业证学历认证真实可查一比一原版美国新罕布什尔大学(unh)毕业证学历认证真实可查
一比一原版美国新罕布什尔大学(unh)毕业证学历认证真实可查
taqyea
 
International Sustainability Standards Board
International Sustainability Standards BoardInternational Sustainability Standards Board
International Sustainability Standards Board
Kumar Ramaiah
 
一比一原版(cwu毕业证书)美国中央华盛顿大学毕业证如何办理
一比一原版(cwu毕业证书)美国中央华盛顿大学毕业证如何办理一比一原版(cwu毕业证书)美国中央华盛顿大学毕业证如何办理
一比一原版(cwu毕业证书)美国中央华盛顿大学毕业证如何办理
asukqco
 
真实可查(nwu毕业证书)美国西北大学毕业证学位证书范本原版一模一样
真实可查(nwu毕业证书)美国西北大学毕业证学位证书范本原版一模一样真实可查(nwu毕业证书)美国西北大学毕业证学位证书范本原版一模一样
真实可查(nwu毕业证书)美国西北大学毕业证学位证书范本原版一模一样
28xo7hf
 
Monthly Market Risk Update: June 2024 [SlideShare]
Monthly Market Risk Update: June 2024 [SlideShare]Monthly Market Risk Update: June 2024 [SlideShare]
Monthly Market Risk Update: June 2024 [SlideShare]
Commonwealth
 
The state of welfare Resolution Foundation Event
The state of welfare Resolution Foundation EventThe state of welfare Resolution Foundation Event
The state of welfare Resolution Foundation Event
ResolutionFoundation
 
Ending stagnation: How to boost prosperity across Scotland
Ending stagnation: How to boost prosperity across ScotlandEnding stagnation: How to boost prosperity across Scotland
Ending stagnation: How to boost prosperity across Scotland
ResolutionFoundation
 
Initial Public Offering (IPO) Process.ppt
Initial Public Offering (IPO) Process.pptInitial Public Offering (IPO) Process.ppt
Initial Public Offering (IPO) Process.ppt
ribhi87
 
Seeman_Fiintouch_LLP_Newsletter_Jun_2024.pdf
Seeman_Fiintouch_LLP_Newsletter_Jun_2024.pdfSeeman_Fiintouch_LLP_Newsletter_Jun_2024.pdf
Seeman_Fiintouch_LLP_Newsletter_Jun_2024.pdf
Ashis Kumar Dey
 
Importance of community participation in development projects.pdf
Importance of community participation in development projects.pdfImportance of community participation in development projects.pdf
Importance of community participation in development projects.pdf
krisretro1
 
Detailed power point presentation on compound interest and how it is calculated
Detailed power point presentation on compound interest  and how it is calculatedDetailed power point presentation on compound interest  and how it is calculated
Detailed power point presentation on compound interest and how it is calculated
KishanChaudhary23
 

Recently uploaded (20)

1比1复刻(ksu毕业证书)美国堪萨斯州立大学毕业证本科文凭证书原版一模一样
1比1复刻(ksu毕业证书)美国堪萨斯州立大学毕业证本科文凭证书原版一模一样1比1复刻(ksu毕业证书)美国堪萨斯州立大学毕业证本科文凭证书原版一模一样
1比1复刻(ksu毕业证书)美国堪萨斯州立大学毕业证本科文凭证书原版一模一样
 
BIHC Briefing June 2024 from Bank+Insurance Hybrid Capital in association wit...
BIHC Briefing June 2024 from Bank+Insurance Hybrid Capital in association wit...BIHC Briefing June 2024 from Bank+Insurance Hybrid Capital in association wit...
BIHC Briefing June 2024 from Bank+Insurance Hybrid Capital in association wit...
 
Bridging the gap: Online job postings, survey data and the assessment of job ...
Bridging the gap: Online job postings, survey data and the assessment of job ...Bridging the gap: Online job postings, survey data and the assessment of job ...
Bridging the gap: Online job postings, survey data and the assessment of job ...
 
欧洲杯投注-欧洲杯投注买球-欧洲杯投注买球网|【​网址​🎉ac22.net🎉​】
欧洲杯投注-欧洲杯投注买球-欧洲杯投注买球网|【​网址​🎉ac22.net🎉​】欧洲杯投注-欧洲杯投注买球-欧洲杯投注买球网|【​网址​🎉ac22.net🎉​】
欧洲杯投注-欧洲杯投注买球-欧洲杯投注买球网|【​网址​🎉ac22.net🎉​】
 
South Dakota State University degree offer diploma Transcript
South Dakota State University degree offer diploma TranscriptSouth Dakota State University degree offer diploma Transcript
South Dakota State University degree offer diploma Transcript
 
Governor Olli Rehn: Inflation down and recovery supported by interest rate cu...
Governor Olli Rehn: Inflation down and recovery supported by interest rate cu...Governor Olli Rehn: Inflation down and recovery supported by interest rate cu...
Governor Olli Rehn: Inflation down and recovery supported by interest rate cu...
 
PM pre reads for the product manager framework
PM pre reads for the product manager frameworkPM pre reads for the product manager framework
PM pre reads for the product manager framework
 
TechnoXander Confirmation of Payee Product Pack 1.pdf
TechnoXander Confirmation of Payee Product Pack 1.pdfTechnoXander Confirmation of Payee Product Pack 1.pdf
TechnoXander Confirmation of Payee Product Pack 1.pdf
 
FCCS Basic Accounts Outline and Hierarchy.pptx
FCCS Basic Accounts Outline and Hierarchy.pptxFCCS Basic Accounts Outline and Hierarchy.pptx
FCCS Basic Accounts Outline and Hierarchy.pptx
 
一比一原版美国新罕布什尔大学(unh)毕业证学历认证真实可查
一比一原版美国新罕布什尔大学(unh)毕业证学历认证真实可查一比一原版美国新罕布什尔大学(unh)毕业证学历认证真实可查
一比一原版美国新罕布什尔大学(unh)毕业证学历认证真实可查
 
International Sustainability Standards Board
International Sustainability Standards BoardInternational Sustainability Standards Board
International Sustainability Standards Board
 
一比一原版(cwu毕业证书)美国中央华盛顿大学毕业证如何办理
一比一原版(cwu毕业证书)美国中央华盛顿大学毕业证如何办理一比一原版(cwu毕业证书)美国中央华盛顿大学毕业证如何办理
一比一原版(cwu毕业证书)美国中央华盛顿大学毕业证如何办理
 
真实可查(nwu毕业证书)美国西北大学毕业证学位证书范本原版一模一样
真实可查(nwu毕业证书)美国西北大学毕业证学位证书范本原版一模一样真实可查(nwu毕业证书)美国西北大学毕业证学位证书范本原版一模一样
真实可查(nwu毕业证书)美国西北大学毕业证学位证书范本原版一模一样
 
Monthly Market Risk Update: June 2024 [SlideShare]
Monthly Market Risk Update: June 2024 [SlideShare]Monthly Market Risk Update: June 2024 [SlideShare]
Monthly Market Risk Update: June 2024 [SlideShare]
 
The state of welfare Resolution Foundation Event
The state of welfare Resolution Foundation EventThe state of welfare Resolution Foundation Event
The state of welfare Resolution Foundation Event
 
Ending stagnation: How to boost prosperity across Scotland
Ending stagnation: How to boost prosperity across ScotlandEnding stagnation: How to boost prosperity across Scotland
Ending stagnation: How to boost prosperity across Scotland
 
Initial Public Offering (IPO) Process.ppt
Initial Public Offering (IPO) Process.pptInitial Public Offering (IPO) Process.ppt
Initial Public Offering (IPO) Process.ppt
 
Seeman_Fiintouch_LLP_Newsletter_Jun_2024.pdf
Seeman_Fiintouch_LLP_Newsletter_Jun_2024.pdfSeeman_Fiintouch_LLP_Newsletter_Jun_2024.pdf
Seeman_Fiintouch_LLP_Newsletter_Jun_2024.pdf
 
Importance of community participation in development projects.pdf
Importance of community participation in development projects.pdfImportance of community participation in development projects.pdf
Importance of community participation in development projects.pdf
 
Detailed power point presentation on compound interest and how it is calculated
Detailed power point presentation on compound interest  and how it is calculatedDetailed power point presentation on compound interest  and how it is calculated
Detailed power point presentation on compound interest and how it is calculated
 

Impact of GST on Indian Economy

  • 1. IMPACT OF GST ON INDIAN ECONOMY
  • 2. About GST :  The concept of goods and services tax popularly known as GST  The GST will have a 'dual' structure, which means it will have two components- the Central GST and the State GST  GST is expected to simplify tax administration, ensure ‘Ease of Doing Business’ and promote ‘Make in India’
  • 3. Objective of the study:-  To study about GST and its impact on indian economy  To examine benefits of Goods and Service tax.
  • 4. IMPACT ON INDIAN ECONOMY  It will reshape the indirect tax structure by a subsuming majority of indirect taxes like excise, sales and services levies  This will do away with the complex indirect tax structure of the country, thus improving the ease of doing business in the country 1.Reshapes Indirect Tax Structure
  • 5. 2.Exports:  Exports will become competitive as the GST regime will eliminate the cascading impact of taxes.  GST could boost India’s GDP growth by 0.9-1.7 per cent.  GST is a key for India’s gross domestic product in times of challenging global environment
  • 6. 3.Gross Domestic Product  The GST will bring about a qualitative change in the tax system by redistributing the burden of taxation equitably between manufacturing and services  impact on growth due to reduction in direct cost and cost reduction on capital inputs pegged the improvement in growth rates between 1.5 and 2 per cent.
  • 7. 4.Inflation:  If the rates are set at 6,12,18,26,4 ℅ CPI (Consumer price index ) could decreased by 0.06 percentage points.
  • 8. 5. Foreign Exchange  The passing of the GST will be welcome news for the Indian rupee (INR).  GST will lead to higher foreign direct investment inflows and a narrow current account deficit-factors that should help the rupee increase
  • 9. 6. Impact on Make–in– India  The tax reforms through GST will play a crucial role to attract large-scale investment  The impending GST promises a progressive tax system which avoids tax cascades and helps establish India as a true common market.  GST will reduce the cost of production and allows the hassle free supply of goods
  • 10. 7.Unification of Market  GST will lead to the creation of a unified market, which would facilitate seamless movement of goods across states and reduce the transaction cost of businesses.  Presently 11 categories of taxes are levied on the road transport sector.  The GST will help bring down logistical costs.
  • 11. 8.Clean–up India  The clean-up of the Indian taxation system will reduce the number of excise duty exemptions.  According to the estimates, excise tax exemptions result in foregone revenues of Rs. 1.8 lakh crore  India loses about 2.7 percent of GDP because of these exemptions.
  • 12. 9.FOREIGN TRADE  GST is a solution provider by lining up total indirect tax structure of all streams into one single tax payable by the companies  The impact of this will be on the all multinational companies and facilitates for ease of doing business and adds factor to the globalization and liberalization
  • 13. BENEFITS OF GST :  For business and industry  – Easy compliance  – Removal of cascading effect  – Improved competitiveness  For Central and State Governments  – Simple and easy to administer  – Better controls on leakage  – Consolidation of tax base  – Higher revenue efficiency
  • 14. BENEFITS OF GST :  For the consumer  – Single and Transparent tax proportionate to the value of goods and services  – Reduction of prices
  • 15. Conclusion:-  It can be concluded from the above discussion that GST will provide relief to producers and consumers by providing wide and comprehensive coverage of input tax credit set-off  Efficient formulation of GST will lead to resource and revenue gain for both Centre and States  It can be further concluded that GST have a positive impact on indian sectors and industry