“A Study of GST Implementation & It's Impact Assessment in RCF Ltd.”

The concept of Goods & Service Tax is a “Dual Taxation system” in consideration of India as a Nation & it is popularly known by the name of GST. Firstly, in India the idea of GST was developed in the regime of Atal Bihari Vajpayee Government in 2003 & then afterwards it got implemented in 1 July 2017. Dual taxation system means it has two components i.e. Central GST & State GST which is expected to simplify tax structure & pay in as single tax component.

This paper highlights of the impact assessment & implementation of GST in Rashtriya Chemicals & Fertilizers Ltd. Henceforth it gives idea about the effect of it on various Fertilizers & Chemical industries around the Nation (India). At a consumer level, GST would reduce the overall tax burden & allow them to claim Input Tax Credit. Though Various GST Returns are to be implemented in practices by government it has mixed response in general as well as in industrial sectors.