A Comprehensive Study of Goods and Services Tax in India

Abstract

The Goods and Services Tax (GST) introduced on July 1, 2017, marks a significant shift in India's taxation landscape, representing the most substantial tax reform since the nation gained independence. This comprehensive indirect tax applies to the manufacturing, distribution, and consumption of goods and services across the country. Since then, it has undergone continuous
evolution, with periodic adjustments made to the operational features and structure. By increasing GDP, the Goods and Services Tax (GST) will strengthen the Indian economy. Value Added Tax (VAT), Service tax, Sales tax, Octroi, Luxury tax, and other indirect taxes were in place in India prior to the introduction of the Goods and Services Tax (GST). However, these many indirect taxes are now all included under one roof. This study's primary goals are to determine the effects of the goods and services tax (GST) in India, examine the various facets of the country's GST system, and investigate the effects of the GST on the economy of India. The secondary data sources used in this paper were gathered from newspapers, periodicals, and official websites.