• MD JAHIR HOSSAIN

The research paper found that GST procedure is basically rejuvenated to abridge the existing critical indirect taxation structure in India. The well intended GST is a charming technique to get release of warping of the current process of multiple payment of tax and decrease the compliance charge. The study found the impact of Goods and Service Tax for the development of an economy of India. The bill of Goods and Service Tax has been approved by the Lower House i.e. Lok Sabha in the year 2015 and some amendments have been made and was finally approved by the Upper House i.e. Rajya Sabha in the month of August of 2016. The Goods and Service Tax has been started on 1st July, 2017 through the 101 amendments of the constitution of India has been made by the Govt. of India in that year. This paper able to find out the process, targets and consequences of GST for the economic development in India. GST is not a direct taxation as it imposed on the supply of products and services. As it is a multi stage, subsumed and destination oriented indirect tax. It is imposed on every value addition with cascade effect by replacing other indirect taxes like VAT, Excise duty, Service taxe, Tax on Purchase, Entertainment tax, Amusement tax, Entry tax etc. There are four types of GST in India such as IGST, SGST, CGST and UTGST. The basic GST slabs are 0%, 5%, 12%, 18%, 28% on various goods and services.

GST, Multistage, Subsumed, Economic growth and development, Slab, Indirect Tax

"Impact of Goods and Service Tax Towards Economic Development in India", International Journal of Emerging Technologies and Innovative Research (www.jetir.org), ISSN:2349-5162, Vol.11, Issue 6, page no.j345-j348, June-2024, Available :http://www.jetir.org/papers/JETIR2406937.pdf

"Impact of Goods and Service Tax Towards Economic Development in India", International Journal of Emerging Technologies and Innovative Research (www.jetir.org | UGC and issn Approved), ISSN:2349-5162, Vol.11, Issue 6, page no. ppj345-j348, June-2024, Available at : http://www.jetir.org/papers/JETIR2406937.pdf