India introduces Goods and Services Tax

03 Jul 2017

India has replaced its numerous federal and state taxes with the Goods and Services Tax (GST), designed to unify the country into a single market. The introduction of GST became effective on 1st July 2017. 

Described by the government to be India's biggest tax reform in 70 years, GST is an indirect tax which replaced at least 17 different transaction tax and cess.

India says introducing GST will cut red tape and increase tax revenues, resulting in the significant ease of doing business in India which is expected to boost economic growth across the region. 

 

 

 

 

 

 

 

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