A STUDY OF IMPACT OF SKILL INDIA ON RURAL YOUTH

Abstract

The Goods and Services Tax (GST) is one of the biggest economic and taxation reforms undertaken in India. Parliament initiated a seven-hour marathon debate on four supplementary GST Bills. The Goods and Services Tax Bill or GST Bill, also referred to as The Constitution (One Hundred and Twenty-Second Amendment) Bill, 2014, initiates a Value added Tax to be implemented on a national level in India. The GST aims to streamline the taxation structure in the country and replace a gamut of indirect taxes with a singular GST to simplify the taxation procedure. GST is one indirect tax for the whole nation, which will make India one unified common market. It would also enhance the position of India in both, domestic as well as international market. The system will phase out all indirect taxes and only GST will be applied as an indirect tax. It will apply on both Goods and Services. Taxes like excise duty, VAT, service tax, luxury tax etc will go with GSTs implementation.