Impact of goods and services tax (GST) on common man after one year of its implementation

Goods and Services Tax (GST) is an indirect tax applied both on goods and services at prescribed rates. This means goods and services will be subject to a uniform tax rate and both will be treated at par throughout the country. In our country major population is of the middle class or lower middle-class income group and they depend mainly on agriculture or service sector for living. The implementation of GST shattered the problems related to the cascading effects of tax and has made a clear and partial way of understanding the personal finances. This paper examines the impact of GST on selected sectors viz., Real Estate, E-Commerce, Automobile, Pharmaceuticals, Intangible Goods, Consumer Durables, Agriculture and Transport. In this study, the researchers also analyse the positive and negative impacts of GST after its implementation. This study reveals that GST bring down prices and push up prosperity and living standards of the people of India.