Published Paper Details:

Introduction of GST would result in abolition of multiple taxes on goods and services; it reduces compliance cost, litigation, corruption, inflation and removes the cascading effect of tax. It helps to improve the production in the country and increases the GDP level. The topic is selected to analyze the pros and cons of introduction of GST in Indian scenario and to test the awareness level and the perception of various stakeholders towards GST. On this line the analysis of various provisions and benefits of GST is analyzed in detail. In highly competitive world, to analyze the mechanism, awareness level and need for introduction of goods and service tax is highly necessary. The GST act is to replace all other indirect taxes. Hence the study states the need for the GST act and also states the awareness level and perception of stakeholders (Bangalore). The Goods and Services Tax (GST) is a vast concept that simplifies the giant tax structure by supporting and enhancing the economic growth of a country. Integration of various taxes into a GST system will bring about an effective cross-utilization of credits. The current system taxes production, whereas the GST will aim to tax consumption.