IMPACT OF GST ON CUSTOM VALUATION OF CASHEW KERNALS: A STUDY ON PRESENT SCENARIO”
Tax is an important and most significant source of revenue of the government. It is an effective tool to achieve economic growth. Taxes may be direct or indirect. New indirect tax reform made tremendous variation in the Indian economy. New tax reform affected on price of the goods and services of the country. Goods and Service Tax is one of the transformation reforms of the indirect tax, which replaced excise duty, CENVAT, service tax, entry tax etc. This effect the another element of indirect tax of India i.e., customs duty. One of the major imports of India is cashew kernels which contributes 65% of the world export. In order to meet the domestic demand, Cashew kernel was imported from other countries. This new tax affects the price of the cashew and also the procedure of custom valuation of goods and gateways for availing input tax credit.
This study is attempted to identify the Goods and Service Tax effect on import duty and changes happened in case of valuation of cashew kernels
Dr.H.C.Mehrotra,(2013), Indirect taxes, Sahitya Bhawan publications, Agra
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