IMPACT OF GOODS AND SERVICE TAX WITH THE RECENT SCENARIO IN INDIA

Author(s)	Dr. V.LEKHA PRASATH
Country	India
Abstract	The Goods and Service Tax (GST) of India’s attempt to simplify, unify and modernise its economy. Indirect taxes are major sources of tax revenue in any developed or developing economy, and India was no exception. Before the introduction of Goods and Services Tax (GST), India’s tax structure was complex and included various indirect taxes such as VAT, Service Tax, Excise Duty, Customs Duty and Central Sales Tax. The previous taxation system was a ‘tax-on-tax’ system, which increased the cost of goods and services and reduced the competitiveness of Indian products domestically and internationally. Hence, the previous system was detrimental to the idea of the Make in India initiative. India’s GST structure is therefore a prime example of cooperative federalism, combining centralised uniformity with decentralised revenue sharing. This multi-slab system attempts to balance consumer welfare, equity and government revenue needs by taxing essentials at lower rates while imposing higher taxes on luxury and harmful items. This paper reveals the GDP in India in the recent scenario.
Keywords	GST, CGST, SGST, IGST and UTGST
Field	Sociology > Economics
Published In	Volume 8, Issue 1, January-February 2026
Published On	2026-01-19
DOI	https://doi.org/10.36948/ijfmr.2026.v08i01.64945

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