GST to affect around 2.5 million excise and service tax payers: Economic Survey

New Delhi, Feb 26 (KNN) The much awaited Goods and Services Tax (GST) has been termed as a reforms measure by Economic Survey which is perhaps unprecedented in the modern global tax history.

The survey said that the GST, to be implemented by the Centre, 28 States and 7 Union Territories, awaits a Constitutional amendment requiring broad political consensus.
It has to affect estimated between 2 to 2.5 million Excise and Service Tax payers.

The GST would impact dramatic changes in the Indian tax system, said the economic survey. (KNN Bureau with PIB Inputs)