Implications of GST: A Perceptional Study of Traders

Abstract

Tax system plays a stupendous role in the economic activities and growth of any country. Within the broader tax system, indirect taxes constitute major source of public revenue. The Government of India replaced the Value Added Tax (VAT) with Goods and Services Tax (GST) which is reckoned as a unique tax system integrating central and state tax administration. Founded on the philosophy, ‘one nation, one tax system, it has brought in drastic changes in the country impacting different sections of economy including traders. In this backdrop, an attempt is made here to examine the perceptions of select traders on a few dimensions of GST.