Published Paper Details:

As the Lok Sabha passed Goods and Services Tax (GST) bill it was confirmed that the country will now come under single tax net for the first time. This tax reform came into existence when the Lok Sabha approved four supplementary legislations. The opposition parties put up a lot of objections which resulted in some amendments in the legislations. GST subsumed a host of indirect taxes levied by the Centre and states, including excise duty, VAT, service tax, entry, luxury and entertainment levies. As the news flourished both the print media, the electronic media, the political parties and the trade pundits started talking about the pros and cons about the GST Implementation. With the Government portraying it as a landmark achievement the opposition was full of criticism. Many International newspapers also published their views on it by depicting it as a new wave of economic reform in the country. This paper tries to analyse the background, future prospects and the challenges of Implementation of Goods and Services Tax(GST) in India. On the basis of the study the paper will examine the key facts and draws out the conclusion.