Impact of GST on Manufacturers, Distributors and Retailers
The GST is a Value added Tax (VAT) is present to be a comprehensive indirect tax imposes on manufacture, sale and consumption of goods as well as services
at the national level. It will replace all indirect taxes levied on goods and services by the Indian Central and State governments. It is aimed at being comprehensive for most goods and services. The goods and Services Tax (GST), implemented on July 1st, 2017, is regarded as a major taxation reform till date implemented in India since independence in 1947. GST was planned to be implemented in April 2010, but it was postponed due to political issues. The primary objective behind development of GST is to subsume all sorts of indirect taxes in India. The implementation of GST will give a boost to the growth engine to developed state in the country. GST has brought in ‘one nation one tax’ system, but its effect on various industries is slightly different. The first level of
differentiation will come in depending on whether the industry deals with manufacturing, distributing and retailing is providing a service. The purpose of present
study is to analyse the impact of GST on manufacturers, distributors and retailers.