The Policy of GST and its Economic Impacts

Abstract

Goods and Services Tax (GST) and its implementation in India from 1st July 2017 was one of the most bold steps that was taken by Shri Narendra Modi led BJP government in the past few years as far as the economic policy of India is concerned. This research paper aims at looking at the benefits of implementation of GST to simplify the taxation structure of India so that the nation and its people get the benefit of the economic growth. It is a fact that India is perceiving an economic slowdown in the present state, but to merely state that it is because of the economic policy of GST would be a fallacious statement to make as there are many other reasons of the slowdown of the Indian economy and to blame it on the implementation of GST would be merely beating around the bush without really looking at the issues which are creating economic volatility in India.