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GST and its Implications in Kerala
Author(s) : Ambily T. Chacko , Dr. Santhosh Kumar S.Volume & Issue : VOLUME 4 / 2016 , ISSUE 2
Page(s) : 7
Abstract
Kerala was popular for long years as a State with high human development at lower incomes. But the recent years have seen a great change in the status of Kerala. Now (2015) both urban and rural areas of the State report asset holdings much higher than that of the Indian average and the State ranks among the top three Indian States. The average growth rate of the State exceeds 7 per cent (constant prices). The share of indirect taxes on the total revenue of the State is nearly 50 percent (2014â€15) and it is on the declining path. Kerala being a consumer State is depending heavily on the neighbouring States for its requirement of rice, vegetables, milk, meat, eggs, pulses, textiles, industrial goods and so on. It is generally believed that GST will be beneficial for a consumer State like Kerala. With the existence of interâ€state tax and several other taxes, the consumers in Kerala are paying higher prices for many commodities. No doubt, GST will have varied impact on different sectors. Whether the major sectors in the State such as rubber, tea, cashew, coir and so on will benefit out of GST? Will the export sector benefit from the GST? What about the prices of drugs in the State where health care is given due importance? The discussions on the implications of GST are lengthy. The paper intends to examine this sectorâ€wise implications of GST in Kerala.
Keywords
GST, Kerala, Consumer State, Implications, VAT
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