• BALAJI. N.P

ABSTRACT: Goods and Services Tax (GST) was launched on 1st of July 2017. It is an indirect tax applicable throughout India. Now single tax would be levied on all goods and services. Around 160 countries have implemented GST. GST will ensure a comprehensive tax base with minimum exemptions, which will help the industry. GST will help the economy to grow in more efficient manner by ameliorating the tax accumulation as it will disrupt all the tax barriers between states and integrate country via single tax rate. It will benefit the Indian economy in many ways-help in reducing the price for consumers, rate of tax will be uniform, reduce multiple taxes. GST will affect many sectors in positive or negative manner. Goods and Service Tax(GST) aims to standardize India's disparate indirect tax structure and prevent the tax burden from multiplying on itself. The GST would have far-reaching consequences for India's tax structure. Today marks the official start of GST. As one country, one tax, and one market, GST contributes to the development of the new India. GST. a blessing for ordinary people. The implementation of GST would have a profound effect on tax collection in India. As of July 1, 2017, a simplified GST has replaced a convoluted array of indirect tax rates. The paper's focus is on how GST has affected the Indian economy economically. This study is exploratory in nature, and secondary sources provide the bulk of the information used. According to the results, implementing GST will have positive effects on tax collection, tax compliance, and state-testate relations.

Keywords: - Goods and Services Tax(GST), Taxation reforms, GST Council.

"IMPACTS OF GST IN INDIA - A STUDY", International Journal of Emerging Technologies and Innovative Research (www.jetir.org), ISSN:2349-5162, Vol.5, Issue 1, page no.311-316, January-2018, Available :http://www.jetir.org/papers/JETIR1801362.pdf

"IMPACTS OF GST IN INDIA - A STUDY", International Journal of Emerging Technologies and Innovative Research (www.jetir.org | UGC and issn Approved), ISSN:2349-5162, Vol.5, Issue 1, page no. pp311-316, January-2018, Available at : http://www.jetir.org/papers/JETIR1801362.pdf