scholarly journals GST and the Paradigm Shift: A Peripheral View

2017 ◽  
Vol 4 (01) ◽  
Author(s):  
Priyakrushna Mohanty ◽  
Anu Chandran
Keyword(s):  
Present Article ◽  
Paradigm Shift ◽  
Tax Reform ◽  
Positive Impact ◽  
Goods And Services ◽  
Indirect Taxes ◽  
Retrospective Nature ◽  
The Republic

The Goods and Services Tax (GST) has been touted as the single biggest tax reform in the Republic of India. The GST Act proposes to replace all the indirect taxes with a single GST. The profound positive impact of the Act has been reflected in many works in literature. However, the Act has also been criticised for its complex and retrospective nature. The current academic papers on GST are mainly focused on the brighter side of it and very few of them have provided an all-encompassing picture of the Act. In this backdrop, the present article attempts to highlight the benefits and concerns related to this Act by taking cues mainly from the write-ups published in the newspapers as well as academic works.

GST - Sway On Small Scale Industries

2019 ◽  
Vol 118 (10) ◽  
pp. 365-372
Author(s):  
Jayanti.G ◽  
Dr. V.Selvam
Keyword(s):  
State Government ◽  
Tax Reform ◽  
Small Scale ◽  
Tax Revenue ◽  
Tax System ◽  
Goods And Services ◽  
Single Tax ◽  
The People ◽  
Indirect Taxes ◽  
The Government

India being a democratic and republic country, has witnessed the biggest indirect tax reform after much exploration, GST bill roll out on 1 April 2017.  The concept of this reform is for a unified country-wide tax reform system.  Enterprises particularly SMEs are caught in a state of instability.  Several taxes such s excise, service tax etc., have been subsumed with a single tax structure. it is the responsibilities of both centre and state government to shoulder the important responsibility to cater the needs of the people and the nation as a whole.  The main basis of income to the government is through levy of taxes.  To meet the so called socio-economic needs and economic growth, taxes are considered as a main source of revenue for the government.  As per Wikipedia “A tax is a mandatory financial charge or some other type of levy imposed upon tax payer by the government in order to fund various public expenditure”   it is said that tax payment is mandatory, failure to pay such taxes will be punishable under the law.   The Indian tax system is classified as direct and indirect tax.   The indirect taxes are levied on purchase, sale, and manufacture of goods and provision of service.  The indirect tax on goods and services increases its price, this can lead to inflationary trend.  Contribution of indirect taxes to total tax revenue is more than 50% in India, therefore, indirect tax is considered as a major source of tax revenue for the government, which in turn is one of source for GDP growth.  Though indirect tax is a major source of revenue, it had lot of hassles.  To overcome the major issues of indirect tax system the government of India subsumed most of the indirect tax which in turn gave birth to the concept called Goods and Service Tax.

scholarly journals Goods and Services Tax(GST): Biggest Tax Reform In Independent India

2017 ◽  
Vol 5 (01) ◽  
Author(s):  
Preeti Pant
Keyword(s):  
Present Article ◽  
Fiscal Federalism ◽  
Tax Reform ◽  
State Level ◽  
Federal System ◽  
Tax Structure ◽  
Indian Government ◽  
Goods And Services ◽  
Cooperative Federalism ◽  
Sincere Effort

After a marathon debate on Goods and Services Tax (GST) bill finally India witnessed the biggest tax reform after her independence. At the midnight of 30th June, 2017 GST was launched and legally enforced by the Indian Government. It is the biggest tax reform in independent India in last 70 years and will help to modernise Asia’s third largest economy. GST is passed to imply the principle of “One Nation One Tax”. GST has oriented the Indian federal system from fiscal federalism to cooperative federalism. It is replacing the multiple layers of complex taxation currently existing in India and expected to result in simplification of indirect tax structure (at both Centre and State level). Present article includes several aspects of GST. A sincere effort has been made to highlight the implications of GST for government, industries and consumers along with its probable effects on the economy. Besides, practical difficulties related to GST have also been discussed in brief.

scholarly journals New Globalization as an Exogenous Factor in the Formation of the Foreign Trade Policy of the Republic of Korea

2018 ◽  
pp. 214-223
Author(s):  
S. V. Ivanova ◽  
A. V. Latyshov
Keyword(s):  
Foreign Trade ◽  
Global Economy ◽  
Positive Impact ◽  
Public Procurement ◽  
Republic Of Korea ◽  
Business Practices ◽  
Korean Society ◽  
Digital Implementation ◽  
Goods And Services ◽  
The Republic

The article reveals the content of the "new globalization" concept and characterizes the readiness of the Republic of Korea (RK) for a new technological order. Based on the analysis of the values of different indicators (KOF Index of Globalization, Digital Evolution Index, Digital Adoption Index and a number of others), the conclusion about the high dynamics of Korean society integration into the new global economy is made. South Korea is among the leading countries in terms of digital implementation in business and public administration. The country has a well-established system of e-government, which, among other things, allows it to export the system to other countries of the world. The procedure of customs clearance of goods has been optimized, the "single window" technology has been introduced, public procurement is carried out only through electronic bidding. The traditional close relationship between the state and the chaebols makes it possible to successfully transfer the policy of digitalization into business practices. As a result, digitalization has a positive impact on the development of Korean foreign trade: on the one hand, it allows to increase exports due to the growth of goods and services of the IT sector and related industries, and on the other hand - to reduce the time and money spent on logistics, customs clearance and on the interaction between government agencies.

Fiscal Stability of the Local Government Units in the Republic of Srpska

2021 ◽  
Vol 59 (1) ◽  
pp. 109-132
Author(s):  
Biljana Gojković ◽  
Sanja Popović ◽  
Marijana Đukić
Keyword(s):  
Economic Growth ◽  
Positive Impact ◽  
Public Finances ◽  
The Public ◽  
Goods And Services ◽  
Efficient Management ◽  
The Republic ◽  
The Impact ◽  
Significant Attention

Abstract Fiscal stability of the local self-government units is the condition for stable public finances of the Republic of Srpska (hereinafter: RS) as a whole. Stable public finances of local self-government units have a positive impact on the economic growth of the RS. Therefore, it is necessary to pay a significant attention to the fiscal problems of local self-government units (hereinafter: LGUs). Although the public finances of the LGUs make up 15% of the total public finances of the Republic of Srpska, it is important to emphasize that the life of the RS citizens takes place in the local self-government. In this regard, LGUs have the important role in providing public goods and services, as well as creating the environment for the life of citizens on the basis of legally defined competencies. Having in mind the importance and role of local self-government units in the RS, it is necessary to ensure the efficient management and stability of their public finances. One of the preconditions for the successful exercise of the competencies of LGUs is the rational and efficient use of available resources. The aim of this paper is to examine the impact of the key fiscal factors of local self-government units on their fiscal stability. The results of this analysis will provide answers to the question of how rational and efficient local self-government units are in the execution of their competencies and how it is reflected on their revenues and expenditures, i.e. in total public finances of RS.

scholarly journals Impact of Goods and Service Tax (GST) on Business and Tax Reforms in India

2017 ◽  
Vol 4 (1) ◽  
pp. 15-22
Author(s):  
Lavisha Verma
Keyword(s):  
Tax Reform ◽  
Research Paper ◽  
State Governments ◽  
Tax Reforms ◽  
Tax System ◽  
Dual Structure ◽  
High Compliance ◽  
Goods And Services ◽  
Finance Minister ◽  
Indirect Taxes

Goods and Services Tax (GST) comes under Indirect Tax regime covers whole of  India replaced  various indirect taxes levied by the Central and state governments. The GST is governed by GST Council and its Chairman is Union Finance Minister of India “GST is not a tax reform in true sense, but it is a major business reform which will change the way business activities are carried in the country. The dual structure of GST is the fundamental character of our country and therefore a single GST across the country is not possible in true sense under GST ,the taxpayer will be ease the burden  of taxpayers to deal with multiple indirect taxes as under present Indirect system but GST will cost high compliance burden on the taxpayers requiring a registration in every state from where taxable activities are carried out  but it would definitely reduced cumbersome documentation and save time. This research Paper discuss about the biggest step taken in indirect tax system that is GST and challenges in implementation. The paper aims to show that GST is a merely a Business reform, not a uniform tax system.

scholarly journals MIGRATION FROM UKRAINE TO THE REPUBLIC OF SOUTH AFRICA AS A POSSIBLE FACTOR IN THE TRADE DEVELOPMENT

2021 ◽  
Author(s):  
Oksana Pyatkovska
Keyword(s):  
South Africa ◽  
Positive Impact ◽  
Country Of Origin ◽  
Entrepreneurial Activity ◽  
African Countries ◽  
Goods And Services ◽  
The Russian Federation ◽  
The Republic ◽  
In The Beginning ◽  
External Migration

For the last decade external migration flows from Ukraine increased from 5.4 million (2010) to 5.9 million (2019) while, according to author’s calculations, Ukrainian migration to Africa has tripled during the same period. Due to the war of the Russian Federation against Ukraine, and the corresponding changes in priorities in the international political arena, the development of trade and diversification of foreign economic partners have become crucially important for Ukraine. Many empirical non-Ukrainian studies prove the positive impact of international migration on trade between the country of origin and the destination of migrants. In this situation the issue of involving Ukrainian migrants in establishing economic cooperation between Ukraine and country of Ukrainian migrants’ residence, especially in the trade sphere, is very actual. According to the UN migration data, in the beginning of 2020 the number of Ukrainian migrants among all African countries was the highest in the Republic of South Africa, making 6.7 thousand people. Therefore, the aim of the article is to identify the possible impact of Ukrainian migration to South Africa on the growth of trade in goods from Ukraine to South Africa, as well as the factors that may cause it. The author of the article considers the dynamics of migration from Ukraine to South Africa, as well as the dynamics of exports of goods and services for the period 2000 – 2019 years. Analysis of data by approximation using CurveExpert software allow to trace the correlation between the dynamics of migration from Ukraine to South Africa and export growth: a quadratic relationship with a correlation coefficient R = 0.9345. The ratio of the share of exports of goods and services from Ukraine to South Africa of the 2000 – 2019 period is analyzed, and a conclusion is made about the significant dominance of goods in the overall structure of exports. The analysis of the commodity structure of exports of goods allows to explain the reason for the positive impact of migration on it: predominance of food products, which are in great demand among Ukrainian migrants in South Africa. An additional factor that may further stimulate the growth of trade from Ukraine to South Africa is the entrepreneurial activity of Ukrainian migrants in this country and their great interest in establishing and promotion of trade exchanges between their country of origin and the country of destination.

From Inception to Implementation

2018 ◽  
pp. 123-141 ◽  
Author(s):  
Garima
Keyword(s):  
Paradigm Shift ◽  
Common Market ◽  
The Other ◽  
Market Place ◽  
Indirect Taxation ◽  
Goods And Services ◽  
Indirect Taxes ◽  
Taxation System

Goods and service tax (GST) is a partially centralized and unified indirect taxation system on goods and services, which will sculpt India as a one common market place. GST on one side is being regarded as a paradigm shift in Indian taxation system, as it will comprehend all the indirect taxes levied on manufacturing, sale, and consumption of goods and services across pan India while on the other side there is lot of commotion over its implementation as it is generally perceived that it will bring no benefit for the country as a whole and rather will create more ambiguity cross state and center. Taking cognizance of the shift in the Indian taxation structure and emergence of the GST, the present chapter addresses this dilemma and contradictions by commenting on the various aspects and impacts of GST, specifically on the Indian e-commerce industry.

A Study on Consumers’ Awareness on Goods and Services Tax

2018 ◽  
Vol 6 (11) ◽  
pp. 30
Author(s):  
A. Hilary Joseph ◽  
D. Kanakavalli
Keyword(s):  
Tax Reform ◽  
Subsequent Stage ◽  
State Governments ◽  
Value Addition ◽  
Goods And Services ◽  
Late Night ◽  
Single Tax ◽  
Doing Business ◽  
Ease Of Doing Business ◽  
The One

The Goods and Services Tax (GST) -- India's biggest tax reform since independence formally launched in Parliament by Prime Minister Narendra Modi and President Pranab Mukherjee came into force after 17 tumultuous years of debate, unifying more than a dozen central and state levies.  The new tax regime was ushered at the late night of 30th June and came into force on 1st July 2017.  The one national GST unifies the country's USD 2 trillion economy and 1.3 billion people into a common market.  As commented by Mr.Modi, GST is not just tax reform but its economic reform. GST is a way forward in the ease of doing business.  In the language of law, it is called the goods and services tax, but the benefit of GST is really a Good and Simple Tax. Good because multiple taxes will be removed. Simple because it requires just one form and is easy to use.  GST is a single tax on the supply of goods and services, right from the manufacturer to the consumer.  Credits of input taxes paid at each stage will be available in the subsequent stage of value addition, which makes GST essentially a tax only on value addition at each stage. The final consumer will thus bear only the GST charged by the last dealer in the supply chain, with set-off benefits at all the previous stages.  It renders numerous benefits to different parties such as business and industry, central and state governments and the ultimate consumers.  An effort is made to understand the consumers’ awareness on Goods and Services Tax. Everything that is introduced will attract agitation and unrest among different group of people and they can easily be overcome by designing programmes to clarify the objections of renowned economists.  GST will sure to have success when the confidence of every individual Indian citizens have obtained.

The Imperatives of Beneficiation Law for Botswana’s Diamond Mining Industry and Its Implications for Foreign Investment Protection

2018 ◽  
Vol 33 (2) ◽  
Author(s):  
Femi Oluyeju ◽  
Kuda Tshiamo
Keyword(s):  
Economic Growth ◽  
Foreign Investment ◽  
Value Chain ◽  
Positive Impact ◽  
Mining Industry ◽  
Investment Protection ◽  
Goods And Services ◽  
Advantages And Disadvantages ◽  
Diamond Mining ◽  
Backward And Forward Linkages

This article seeks to interrogate the advantages and disadvantages of beneficiation law for Botswana’s mining industry and its implications for foreign investment protection. Furthermore, it argues that the enactment of beneficiation law could stimulate economic growth and development in Botswana. On a proper analysis of the potential of beneficiation law it seems plain that it may facilitate the integration, of among others, the cutting and polishing segments through the backward and forward linkages in the entire diamond value chain to move Botswana diamond industry a step further as a new and emerging jewellery manufacturing and retail center in order to derive maximum returns from the rough diamond production. Quite clearly, cutting and polishing of diamonds in Botswana is bound to promote employment which in turn will promote demand for goods and services that would have a positive impact on economic growth in Botswana.  The paper concludes that on a balance, the opportunities accruable from the enactment of this law far outweigh the downsides and will not in any way scare investors away as some have perceived it.

scholarly journals The Relationship between Well-Being and Knowledge Sharing

2021 ◽  
Vol 13 (9) ◽  
pp. 4978
Author(s):  
Kei Aoki
Keyword(s):  
Knowledge Sharing ◽  
Paradigm Shift ◽  
Online Survey ◽  
Positive Impact ◽  
Well Being ◽  
Control Group ◽  
User Innovation ◽  
Work Style ◽  
Financial Benefits ◽  
The Relationship

This research studies the relationship between well-being and knowledge sharing. While user innovation has garnered greater attention in recent years, the market has failed to properly incentivize the diffusion of user innovations. This study proposes that this shortcoming could be resolved through a consumer-to-consumer (C-to-C) marketplace and sheds light on non-financial benefits for the contributors, specifically, how knowledge sharing impacts contributor well-being. This research consists of two online survey studies. In both studies, the level of well-being was compared between knowledge sharing contributors and a control group using a scale developed in positive psychology. This study empirically shows that participation in knowledge sharing has a significant positive impact on contributor well-being. In a C-to-C marketplace, contributors diffuse and monetize their creations themselves, resulting in increased well-being. Contributing to knowledge sharing may be a sufficient incentive for user innovators to diffuse their innovations. The findings of this study will gain significance as the utilization of personal knowledge increases due to the expansion of the C-to-C business and the paradigm shift in work style.

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