Impact Of GST On

Indian Economy
Student Name
1) AVHAD ANIL
2) AVHAD SUYOG
3) BHAWSAR RITIK
4) CHAUDHARI GANESH
5) BHILARE RAVIRAJ
6) CHANDALE RAHUL
Content
1]Introduction
2]Why India Needs GST?
3]Positive Impact Of GST On Indian Economics
4] Negative Impact Of GST on Indian Economy
5] Conclusion
Introduction
 GST stands for good’s and service tax.
 The GST bill was passed by both parliament on
29th March 2017.
 Before2017,the people of India used to pay
several indirect taxes like VAT, excise duty, service
tax, Central sales tax.
 GST single Indirect Tax.
 GST is expected to simplify tax system.
Why India Needed GST ?
Positive Impact of GST on
Indian Economy
1] Common Man Friendly
>> GST Act provide benefit that consumption of common
item remains tax free.
eg . Milk, Fresh fruit, veg, etc.

>> Only Moderate tax 5% is leveid on item like tea, coffee,

medicine.
2] Advantages for Trad
and Industry

>> Procedure for filling GST returns has been

Simplified. Save lot’s of time

>> There shall be on uninterrupted flow of input

credits so that incidence of taxation does not
cascade.
3] Benefits to Economy
>> GST is expected to create one unified Market for most

good’s and service in Country.

>> If price of good service is fall in domestic economy export

will rise leading to high earn.

>> A unified market is expected to lead to balance regional

growth.
Negative Impact of GST
on Indian Economy
 GST being an indirect tax is recoverd by means of
rising the selling price which affects middle and
lower middle class.
 In general, firms continue to face issues with
input tax credit system which affects the market.
 The unemployment rate had risen from 3.39 to
6.06 % during the period July 2017 to February
2018 in india.
Conclusion
 GST has both positive as well as negative impact
on the economy.
 Itfacilitates economic growth by being
transparent.
 Italso creates loss over few sectors by the
increased price of the commodity.
 Thus,how GST is viewed in terms of the Indian
economy depends on person to person
Thank You