A study on impact of GST implementation on functioning of Indian Economy

ABSTRACT GST can be termed as the game changer as it is the biggest tax reform in India founded on the notion of “one nation, one market, one tax” has finally come to the implementation. The moment that the Indian government was waiting for a decade has finally come to its existence. The single biggest indirect tax regime has kicked into force, dismantling all the inter-state barriers with respect to trade. The GST rollout, with a single stroke, has converted India into a unified market of 1.3 billion citizens. The expectations from the implementation of GST tax reform will boost the Indian economy and huge shift will be seen from unorganized to organized sector. This paper makes an attempt in understanding the impact of GST implementation on functioning of Indian Economy and its implications on select sectors of India.