Author: Mamta Bhushan
Author Affiliation: Department of Commerce, Kamala Nehru College, University of Delhi
Abstract: Goods and Services Tax known as GST is a significant mile stone in the indirect tax structure of India since independence. GST is a tax reform that transforms the country to: “One Nation, One Tax, One Market” by, replacing all indirect taxes levied on goods and services by the Central and State governments, simplifying the tax structure, easing compliances and digitization. More than 160 countries have implemented GST/VAT in some form or other. France was the first country to introduce GST. Now in India GST was implemented on 1stJuly 2017 with the objective to support and enhance the economic growth of the country. Goods and Service Tax (GST)is a destination based consumption tax on supplies of all goods and services. All sections of economy viz., big, medium, small scale units, intermediaries, importers, exporters, traders, professionals and consumers will be directly affected by GST. Purpose of the paper is to analyse the impact of GST and study the impact of GST on Indian economy. The study was based on secondary sources. It is concluded that GST has positive impact on the economic growth of the India.
Keywords: GST, GDP, indirect tax, centre, state, economic growth.