Published Paper Details:

Tax – Refers to compulsory monetary contribution to the Government, charged as per legislative authority on the activity’s expenditure, income, property, etc. of individual and organization Taxes are major sources of revenues for the government. There are two types of Tax. • Direct Tax • Indirect Tax Direct taxes are taxes where liability to pay the tax to Government and burden of payment lies on the same person, it is progressive in nature – higher income, higher tax. While indirect taxes are taxes where liability to pay the Government lies on one person but the same is recovered from another person, it is regressive in nature -same tax is charged from everyone irrespective of level of income. Indirect taxation in India has witnessed a significant shift on 01 July, 2017 with introduction of a unified indirect tax regime wherein many central and state indirect taxes have been amalgamated into a single tax – Goods and Services Tax (GST). The Introduction of GST is a very remarkable step in field of indirect tax reforms in India. This paper emphasis on impact of GST on Indian economy after its implementation.