Practicing Success
Which reform aimed to facilitate the establishment of a common national market for goods and commodities in India? |
Tax reforms Financial sector reforms Foreign exchange reforms Trade and investment policy reforms |
Tax reforms |
The tax reforms in India aimed to simplify and reform the indirect taxes levied on commodities. The introduction of the Goods and Services Tax (GST) Act in 2016 aimed to establish a unified indirect tax system and create a common national market for goods and commodities. This reform was expected to generate additional revenue, reduce tax evasion, and promote a more efficient tax system. |