The Evolution Of Goods And Services Tax (GST) In India: A Legal And Economic Analysis

Abstract

The introduction of the Goods and Services Tax (GST) in India marks a significant milestone in the nation's economic and fiscal reforms. GST was designed to simplify the complex and fragmented indirect tax regime that previously burdened businesses and consumers alike. This research paper delves into the evolution of GST, beginning with a historical analysis of the pre-GST taxation landscape and tracing its legislative journey through the landmark 101st Constitutional Amendment Act. Through legal and economic lenses, the paper evaluates GST's implementation challenges, economic impact, and sectoral implications. Comparisons with GST systems in countries like Canada and Australia shed light on global parallels and unique features of India’s GST structure. In addition, the paper explores recommendations for enhancing the system to ensure its efficacy and adaptability to future challenges. Ultimately, GST emerges as a transformative reform with the potential to unify India's economy and drive sustainable growth.