Vol. 3, Issue 3, Part K (2017)

Abstract
Goods and services Tax is the biggest positive indirect tax reform which spreads across the world is showing an increasing trend more than 160 countries. Presently, in India also it is supposed to be implemented from 1^st July, 2017 through the constitution (One hundred and first amendment) Act, 2016. Under GST, there would be only one tax rate for both goods and services to be levied by states and central governments. An attempt is made in this paper to study the concept of goods and services tax (GST) and its timelines of introduction in India. The study also aims to know its benefits and impact on Indian economy.