Goods and Service tax structure Prepared; how will it impact economy and kinds of sectors

The article of the Constitutional correction Bill on GST has strong the way for introduction of GST in India, likely in H1FY18. The need for Goods and service tax has been felt because under the current indirect tax structure 1) tax barriers have fragmented the Indian market, 2) cascading effects of taxes on cost have made indigenous manufacture less attractive, 3) complex multiple taxes have raised cost of compliance.
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