Impact of GST on Indian Tax System

GSTBy CA. Pathik Shah

Accommodation Times News Services

In India, there is two type of taxes are levied. These taxes are direct or indirect tax.

“Indirect taxes” according to John Stewart Mill, “are those which are demanded from one person on the expectation and intention that he shall indemnify himself at the expense of another – such are excise and customs.

Currently in India, Service tax, Value added Tax, Excise, luxury tax, entertainment taxes etc. are Indirect taxes. Now government is contemplating to subsume all such major indirect taxes in to one single tax as “Goods and Service Tax Act”.

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