Abstract

In the following paper, a study with regard to the implementation and framework of the Goods and Service Tax (GST) Laws is presented. GST was enacted following the 101st Constitutional (Amendment) Act 2016.It describes how the GST abolished multiplicity of Indirect taxes in India and helped overcome economic confusion caused by the complex tax structure, hence creating a simplified and unified tax system in India. This study aims to figure out how the advent of the GST has affected some businesses positively while others negatively and it also gives an insight on GST from consumer’s perspective since they are equally affected by the introduction of GST. This is a conceptual research paper since it studies the concept and framework of GST based on past literature, books, journal, research papers and articles etc. The study is based on secondary sources of data or information. Relevant websites, Govt. Publications and research papers have been referred to carry out the study effectively. Also, eventually this study also helps in understanding how the overall evolution of numerous taxes being subsumed into GST by the GST Council is crucial in determining how it affected the Indian Economy and further created the socio-political disruption in India.

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