Abstract

The GST has transformed indirect taxation in India and improved compliance. This article critically assesses GST's influence on India's taxation policy, including revenue generation, economic development, and administrative efficiency. It also examines implementation issues and offers policy changes to improve results. We also explore how GST reduces tax cheating, boosts company competitiveness, and promotes cooperative federalism in India. The paper also shows how GST has formalised the economy, enhanced tax collection, and rationalised tax structures to change consumer behaviour. This research examines how GST unifies India's fragmented tax structure, reduces logistical inefficiencies, and promotes tax administration transparency. It examines GST's effects on manufacturing, services, e-commerce, and SMEs. The report also discusses how technology helps with GST compliance, e-invoicing, and data analytics for tax fraud detection. It examines GST's effects on inflation, consumer expenditure, and international trade competitiveness. The paper explores how GST has affected investment decisions and capital movements in India, creating a more predictable tax environment that promotes economic stability. GST's influence on employment patterns is examined, including whether tax reforms have created jobs or changed sectors. It also examines how GST input tax credits have affected real estate and infrastructure prices and market dynamics. Additionally, the study examines how GST compliance expenses affect small firms and startups and offers ways to reduce them. The paper concludes with worldwide best practices and GST implementation suggestions for sustainable economic growth. It examines how fiscal policy aligns GST with long-term national development goals to maintain equitable and growth-oriented tax arrangements. GST policy revisions are needed to handle changing economic issues and guarantee fiscal stability, according to the study.

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