GST EFFECT ON INDIA'S ECONOMY

Abstract

On the delivery of goods and services, the Goods and Services Tax (GST) is an indirect tax. As a result of the GST Law, which superseded a number of India's previous indirect tax regulations, the government now just has to deal with a single form of indirect tax. CGST, SGST, and the Integrated Goods and Services Tax (IGST) are the three taxes that make up the Goods and Services Tax (GST) (IGST). When products and services are sold together in a single transaction, the cascading effect can be minimised by the introduction of GST. The cost of items will rise if the cascading effect is absent. The GST in India and its effects on the Indian economy are the subject of this essay. There are three main aims of this investigation: to analyse how and why GST was created, how it works, as well as how it affects different industries.