Impact of Goods and Service tax (GST) on Common Man in India

The Goods and Services Tax (GST) is a comprehensive tax on manufacture, sale and consumption of goods and services throughout India. It replaced the plethora of different taxes that the Central and State governments levy separately. Even a tiny change in the tax chain leads to a domino effect; we can very well imagine the radical changes that would be brought in by the GST. The new tax law will bring far-reaching reforms, affecting every member of the society. GST will be beneficial to the Centre, states, industrialists, manufacturers, the common man and the country at large since it will bring more transparency, better compliance, an increase in GDP growth and revenue collections. Thus, GST has been a hot topic of discussion everywhere in India. Therefore, we need to be aware of different aspects of GST. In this connection, this paper is an outcome of an explanatory research which is based on secondary data to understand the concept of GST,kind of GST implementation and the impacts of GST on common man. This paper will also focus on the advantages/benefits associated with GST system in India.