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Saturday 29 April 2017
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GST bills passed: An explainer about what the new tax reforms mean

GST bills passed: An explainer about what the new tax reforms mean

On Wednesday the Lok Sabha cleared all the four bills for the launch of the Goods and Services Tax. It is the country’s biggest tax reform since 1947. The aim of the GST is to unify India into a common market and eliminate several central and state levies. What do these tax reforms mean? The government says that the new indirect tax will increase government revenue and boost economic growth by 1 to 2 per centage points(ONE INDIA,2017).

 


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