Impact of Goods and Services Tax on Indian Economy: An Analysis

There is a state of discontent among traders and common consumers regarding the Goods and Services Tax. One country one tax is being implemented, on 3 August 2016, the Goods and Services Tax has been passed across the country, the government has decided to implement it from 1 July 2017. This is the biggest change in the tax structure of the country after independence, which will benefit the common man. This bill was passed by the Rajya Sabha, which has been passed by the Lok Sabha in May 2015. Under the Goods and Services Tax, a proposal to impose National Value Added Tax has been passed in June 2016.