The impact of gst in indian economy after implementation

This paper is an analysis of what is the impact of GST (Goods and Services Tax) on Indian Tax Scenario. Here stated with a brief description of the historical scenario of Indian taxation and its tax structure. Then the need arose for the change in tax structure from traditional to GST model. GST has be detailed discuss in this paper as the background, silent features and the impact of GST in the present tax scenario in India. The Goods and Services Tax (GST) is a value added tax being implemented in India, w.e.f 1^st July, 2017. GST is the only indirect tax that directly affects all sectors and sections of our economy. The goods and services tax (GST) is aimed at creating a single, unified market that will benefit both corporate and the economy. India is a centralized democratic and therefore the GST is implemented parallel by the central and state governments as CGST and SGST respectively.