Impact Of GST On Indian Economy

Journal of Research and Development Peer Reviewed International, Open Access Journal. ISSN : 2230-9578 | Website: https://jrdrvb.org Volume-17, Issue-10(IV)| October2025 89 Impact Of GST On Indian Economy Chhaya Iswardas Chouliwar, Department of Commerce Taywade college mahadula koradi University of R.T.M.N.U Email-rau[email protected] Manuscript ID: JRD -2025-171023 ISSN: 2230-9578 Volume 17 Issue 10(IV) Pp. 89-91 October 2025 Submitted: 25 Sept. 2025 Revised: 12 Oct. 2025 Accepted: 15 Oct. 2025 Published: 31 Oct. 2025 ABSTRACT GST is known as Goods & service tax. it is a indirect tax. GST implemented in india on 1 July 2017. it is replacing a range of pre-Exiting taxes like Vat, service tax, central excise duty entertainment Tax & octroi India, has four types od GST,SGST,CGST & IGST it Is known as four pillars of GST.The GST regime has a laid the foundation for a seamless national market, reshaping india’s tax landscape and driving economic growth. In tis process the GST council has demonstrated flexibility in responding to challenges byFrequently reviewing & amending policies the dynamic approach Allowed for course carreetians ensuring that the tax system envolved to meet the needs of business & the economy & has strengnened the iden of co-opritive federalism in india. Keywords-GST, Regime, PILLARS, SGST,UGST,IGST Intoduction GST is the indirect tax GST means goods andService tax . In India GST was enacted as the 101 constitution Amendment Act 2016,parliament passed by 122 nd constitutional amendment bill 2014 ,ratified by the states and receiving Presidential assent . Therefore while the bill was implemented GST into the Indian constitution is the 101st France was the first country to implement the goods and sevices tax in 1954. This is value added tax system was introduced in France to reduce tax evasion and other countries such as Russia, china and Canada have science adopted similarSystem the purpose of this tax is to introduce a tax system that would eliminated the cascading effect of taxes and reduce tax evasion.Goods and service tax took India by a storm it brought in one nation one tax. Concept to indirect tax under one umbrella and facilated Indian business to be globally competitive.The Indian GST regime is structured for efficient tax collection reduction in corruption Easy interstate movement of goods and service tax. India has four types of GST 1. SGST 2. CGST 3. IGST 4. UGST GST is a destination based tax which mean the tax is collected at the point of consumption rather than at the point of origin The old GST regime has four tax slabs 5%,12%,18%and 28% depending on the types of goods and serves. SGSTIn India states GST in tax levied by state government on the interstate supply of goods and services. Dual tax structure destination based tax subsumed state taxes, state specific legislation, Revenue source for states CGSTThe central goods and service tax is levied by the Central Government of India on the supply of goods and service within a single state or union territory. It is one of the four component of the goods and service tax.IGSTThe Integrated goods and services tax is a tax levied on the interstate supply of goods and service in India. Quick Response Code: Website: https://jrdrvb.org/ DOI: Creative Commons (CC BY-NC-SA 4.0) This is an open access journal, and articles are distributed under the terms of the Creative Commons Attribution-NonCommercial-ShareAlike 4.0 International Public License, which allows others to remix, tweak, and build upon the work noncommercially, as long as appropriate credit is given and the new creations ae licensed under the idential terms. Address for correspondence: Chhaya Iswardas Chouliwar, Department of Commerce Taywade college mahadula koradi University of R.T.M.N.U How to cite this article: Chhaya Iswardas Chouliwar, (2025) Impact Of GST On Indian Economy.Journal of Research & Development,17(10(IV)), 89-91 Original Article Journal of Research and Development Peer Reviewed International, Open Access Journal. ISSN : 2230-9578 | Website: https://jrdrvb.org Volume-17, Issue-10(IV)| October2025 90 It is collected by the central government and is also applicable on import and exports IGST was introduce to simplify Interstate Trade ensure tax neutrality across state and prevent the cascading effect of taxes that existed under the previous tax regime UTGSTUnion Territory Good And Service tax is a component of goods and service tax system. It is levied on the supply of goods and service within Union Territories that do not have their own state ligislature and is charged alongside the Centre goods and service tax (CGST) for local transation Objective of the study1. Remove interstate Trade barriers. 2. Uniform tax Structure. 3. Eliminate the Cascading Effect of Taxes. 4. Avoid tax on tax 5. Provide seamless input tax credit. 6. Enhance tax compliance and transparency. 7. Improve efficiency and Economic growth Research MethodologyA Research Methodology for goods and service tax (GST) Primarily uses the secondary data Research approach involving the collection and analysis of existing data from sources like government reports ( ministry of finance GST council CBIC) National and international journal, books, reputable new outlets and company publication to study GST concept. Daea collection1. Secondary data-The core of GST research relies on secondary data. 2. Sources – 3. Government publication 4. Academic and Professional 5. Books and articles. 6. News and Business Sources. Research techniques Exploratory ResearchTo define the research objective and gain a broad understanding of GST Descriptive ResearchTo provide detailed insights into specific aspect Such as the implementation of GST or its impact on various sectors Comparative ResearchUse to compare GST systems return filling procedures or compliances mechanisms across different countries or regions. Analysis Analysis of statistical DataExaming data on GST collection compliance rates and tax revenue . Case studiesAnalyzing if GST specific examples of GST challenges or successes particularly for small businesses. Literature ReviewSynthesizing existing Research and Data to identify key issues challenges and best practices. Application examining policy changesunderstanding the evolution of GST laws and their implications. Assessing impact -Evaluating the effects of gst on businesses consumers and the economy such as changes in prices ease of doing business and economic growth Identifying challengesHighlighting practical difficulties faces by business in adopting and complying with the GST system. DATA ANALYSISA data analysis of Indian goods and services tax reveals robust revenue growth improves compliance through digilatization and positive economic impact though challenges like tax evasion persist a recent 2025 of the GST RECORD ANNUA GROWTHTotal GST collection reached a record Rs 22.08 crore in the 2024-25 in financial years a 9.4% increase over the previous fiscal year HIGHIST MONTHLY COLLECTIONIn Aprial 2024 at RS 2.10 lakhs cror up in Sep 2025 at RS 1.89 lakhs cror up 9.1% STEADY MONYLY AVRAGEMonthly collection for FY 2024-25 rise to /- 1.84 lakh crore a significant increase for /- 1.68 lakh crore in FY 2023-24. BROADENED TAXPAGE BASEOf active gst taxpage has grown from 65 lakh in 2017 to over 1.53 crore as of june 2025. Journal of Research and Development Peer Reviewed International, Open Access Journal. ISSN : 2230-9578 | Website: https://jrdrvb.org Volume-17, Issue-10(IV)| October2025 91 CONCLUSIONThe most significant tax refarm in india is GST bringing about transparency, effiency & conifarmily in tax administration the increase in revenue collection & the rise in the NO. of taxpayers indicate positive growth trends, GST in India is a landmark tax reforms that unified the country indirect tax system , replaying a complex web of central & state taxes with a single, comprehensive levy.Dispite initial challenges during ills implementation in 2017 the system has evolved to promote economic integration icrease tax complice & streamline business oprations. BIBLIOGRAPHYThis research paper has been done with the help of different books, magazines journals & website, my supervisor has also suggestion , I visited many site & following many journals like 1. #www.caclubindia.com 2. #www.moneycontrol.com 3. #www.eye.com 4. #www.hindustantines.com 5. #www.wikipedia.org 6. #www.finmin.nic.in 7. #www.economictictimes.indiatimes.com 8. # the economics time news paper