Goods and Service Tax (GST): India's New Journey towards Indirect Taxation

Kumar A. N. Shah Deo, Prerna Kittu Singh

Abstract: The present paper deals with the implementation and impact of Goods and Service Tax (GST) in India. Goods and Service tax (GST) is single regime tax system which makes India One Nation One Tax by subsuming both Indirect tax levied by Central government and State government. Currently Concept of Dual GST is implemented in India with Slab rates of 0 %, 5 %, 12 %, and 18 % and 28 % respectively. Total 160 countries in the world have already implemented GST/VAT out of which France was the first country to implement GST and India being 161 countries to implement Goods and service tax (GST). The research paper explores the concept of GST and analysis of data shows that GST makes the necessary goods cheap while making luxurious goods costlier

Keywords: Goods and Service Tax GST, tax reform, Indirect Tax, Tax, Vat