Volume : 5, Issue : 9, SEP 2019
CHALLENGE AND OPPORTUNITIES OF GST IN INSURANCE SECTOR IN INDIA
SARANYA. S, RANJANA DEVI. P
The India economy is witnessing streamlined and focused efforts of the kind off late for the implementation of the goods and service tax (GST) with the service sector accounting for 60% of the GDP, the impact of GST on the service sector is likely to run deep. GST is undisputedly the single largest indirect tax reform since independence. It could change India’s indirect taxation landscape and resulting in a positive impact on the economy. The present study is an attempt to understand the impact of GST on insurance industry along with highlighting the basic concept of GST models of GST and its pros and cons in India context.
GST, INSURANCE INDUSTRY, BENEFITS, CHALLENGES, ECONOMY.
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