Now a day’s GST is the most important topic to discuss .As our prevailing Government has change the total indirect tax structure through GST. All we know the full form of GST is Good and service tax but the confusion arises when some commodity is cheaper and some are dearer. In our federal structure there are two types of tax , direct tax and indirect tax . Income tax, interest tax, wealth tax corporation tax all are fall under the direct tax regime &custom duty, excise duty, sales tax, service tax all are example of service tax. As GST is implemented on indirect tax so we have to clear it that our income tax is not takes effect through it. Indirect tax is called regressive tax because when a tax levied to someone it will be passed to the other & the weaker section bear a heavy tax burden than the richer section. So to minimize the tax burden & for more transparency GST is a better way. GST is a single tax system which unified our tax structure &give
Current Economic related issues which is mainly based on theoretical approaches with the related present issues of the country .Helpful to know the inner economics of the decisions which has taken by the government for development.