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Abstract

On July 1st 2017, the popular Goods and Service Tax is implemented in the most populous and diverse country (India) of the world. The objective of this tax reform according to the government is to ease the trade and exchange between the states of the country.   GST in this relation is referred as ‘Good and Simple tax’ by Indian Prime Minister Mr. Narendra Modi. As the goods and services tax is a much glorified institution which fosters the growth and development of our economy. The major impact of GST according to the available literature discusses is in its merit as a stimulant of economic growth and development by bringing down the complexities of VAT.  GST is already been proved a successful tool in many countries like United Kingdom, Canada, Australia, and Singapore etc. The objectives of this paper are two: first, to analyze GST as a good and simple tax, and second, its effect on Indian economy.

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