Abstract
Taxation is the major source of development of any economy. France was the first country who implemented GST with four tax rate slabs in 1954 in the world. At present, there are 160 countries in the world that have implemented GST/VAT. GST is a single unique tax structure which reduces the cascading effect. As per the World Bank Report, India’s GST top slab of 28% is the second highest of the 115 countries. In India Goods and Services Tax was implemented on 1st July, 2017. GST model of India is based on a dual structure like Canada and Brazil. This study highlights the system of GST, threshold limit, and GST rates around the world. This paper compares the structure of GST in India to some other countries of the world. This study is based on the secondary data taken from various sources such as Government websites, articles, research papers, etc.
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