The Role of the Goods and Service Tax (GST) in Development of Indian Economy

GST is betterment for taxation of goods and services as compared to VAT + Excise + Service Tax regime. After implementation of GST in India, there will be uniformity of taxation throughout the Country. This will result in reduction in prices of goods and services and hence this will increase the GDP (Gross Domestic Production) as demand will also increase due to reduction in prices. In brief it will be helpful in attaining Rapid Economic Growth of the Country.