Transforming India's Tax Landscape: A Deep Dive into GST Valuation

Authors

  • Pratyoosh Prashant Research Scholar Vinoba Bhave University Hazaribagh

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No Keywords.

Abstract

Before July 1, 2017, navigating India's tax system was like manoeuvring through a maze with each State having its own set of taxes. This complex structure posed challenges for businesses, hindering seamless operations across the country. The introduction of the goods and services tax (GST) aimed to change that. GST replaced a multitude of Central and State taxes with a unified tax regime, promising simplicity, efficiency, and transparency. This article explores the core principles of GST, its journey since implementation, and delves into the critical aspect of GST valuation—a cornerstone in ensuring fair and accurate tax assessment.

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Published

2024-07-16

How to Cite

Prashant, P. (2024). Transforming India’s Tax Landscape: A Deep Dive into GST Valuation. The Management Accountant Journal, 59(7), 58–60. Retrieved from https://icmai-rnj.in/index.php/maj/article/view/173577

Issue

Section

Cover Story

References

Ministry of Finance, Government of India

Goods and Services Tax Network (GSTN)

Economic Survey of India

Industry Reports and Analysis