Effects of Goods and Services Tax on India's Economy: A Conceptual Analysis

Abstract

One of India's most significant examples of indirect change is the rollout of the Goods and Services Tax or GST. Under the framework of this indirect tax system, all of the current indirect taxes on the production, trade, or selling of goods and services have been consolidated into a single, destination-based tax known as the GST.

Eliminating the "cascading impact" of taxes is the primary objective of implementing the Goods and Services Tax (GST). This will result in Indian goods being more affordable and readily available to everyone, which would, in turn, stimulate the expansion of the Indian economy. This article introduces the Goods and Services Tax (GST) and discusses its implications for different parts of the Indian economy.