Impact Of Goods and Service Tax on Indian Economy

Abstract. – Goods and Services Tax popularly known as GST a single tax on the supply of goods and services, right from the manufacturer to the consumer. The introduction of Goods and Services Tax will be an important step in the field of indirect tax reform in India. By consolidating numerous central and state taxes into one tax, he allows for pre-tax offsetting, it reduces the negative effects of the cascading and opens the way to a common domestic market. Goods and Services Tax was introduced in India in 2017 with the idea of imposing a uniform tax across the country. Therefore, it is considered one of the biggest tax reforms India has ever undergone. To understand the impact of Goods and Services Tax on the Indian economy as a whole, we first need to understand what Goods and Services Tax is and how it is applied. In this research article, an attempt has been made to review the impact of the implementation of Goods and Services Tax on the Indian economy.