GST ? GOODS AND SERVICES TAX.

GST is a single indirect tax for the whole nation, one which will make India a unified common market. It is a single tax on the supply of goods and services, right from the manufacturers to the consumers. It is a broad based consumption tax. under GST country will move to ? One Nation, One Tax? regime. Under GST, GST Council has approved four main tax slabs?...5%, 12%, 18% and 28%. that aim to lower tax incidence on essential items and to keep the highest rate for luxury and demerit goods. The main aim of the paper is to highlights the various features of GST, what is GST, How it is Implemented by the Govt, why GST is needed, which are the main taxes subsumed under GST, what are the main benefits and demerits of GST. According to the finance minister ArunJaitley, GST will boost Economic growth by as much 2 percent. This will, in turn, reduce the budget deficit and help the Govt to allocate more funds for development project. To study the objectives, secondary tools were used, which includes Books , Journals, Newspapers, Internet, Google scholar.