Role of Model GST Law on Automobile Sector | Original Article

ABSTRACT:

After the 1990s, India's economic reforms propelled the country's emergence as a globally connected nation, with notable gains in regulatory effectiveness, macroeconomic stability, and geopolitical steadiness. One of the fastest-growing economies on the Asian continent has been India in recent years. With the introduction of GST, India's indirect tax system stands to undergo a significant shift. As a result, it's sometimes referred to as the mother of indirect taxes since it will include the vast majority of the other types, making it easier for taxpayers to understand. The article explains the history and purpose of the planned GST and its impact on the Indian economy, with a focus on the automotive industry. The relevance of GST is re-examined in the study, and the conclusion is drawn.