REVIEWING THE DYNAMIC ROLL-OUT OF GOODS AND SERVICES TAX (GST) AND ITS IMPLICATIONS ON VARIOUS STAKEHOLDERS.

In the backdrop of rise in growth prospects and government policies inducing a stable climate for doing business in the country, the Indian economy has been riding high among developing nations in the global context. The dynamic introduction of Goods and Services Tax (GST) and its successful roll-out from July onwards will propel the economy in a profound way and impact various stakeholders. The implications of GST on the economy will change the way businesses operate. The new indirect tax regime subsumes the erstwhile indirect tax on excise, service and sales, thus revolutionizing a uniform indirect tax rate throughout the nation. GST will greatly influence the functioning of different sectors in India. This paper attempts to review the dynamic roll-out of GST and its implications on various stakeholders in the economy. In this light, the pros and cons of GST on the growth prospects of manufacturers, traders and consumers at large etc., has been reviewed and conclusion is drawn.