Goods and Service Tax on Impact of Indian Economy

GST also known as the Goods and Services Tax is defined as the giant indirect tax structure designed to support and enhances the economic growth of a country. More than 150 countries have implemented GST so far. However, the idea of GST in India was mooted by Vajpayee government in 2000 and the constitutional amendment for the same was passed by the Loksabha on 6th May 2015 but is yet to be ratified by the Rajasabha. However, there is a huge hue and cry against its implementation. It would be interesting to understand why this proposed GST regime may hamper the growth and development of the country. GST also improving ease doing business ranking and it merged 17 indirect taxes which are imposed by central and state and local authorities and largest reform in India. It is implemented 1ST JULY 2017 the research paper cover befits of the various stake holder on implementation of GST and disadvantages of GST and slab tax rates, exemptions limits, which goods and services not come under purview of the GST, returns filing process and due dates and recently updates also covered. KEYWORD; GST, benefits, exemption, merged.