GST: A REQUIREMENT OR A COMPULSION

Goods and Services Tax (GST) is an indirect taxation in India , introduced as The Constitution (One Hundred and First Amendment) Act 2016, following the passage of Constitution 122nd Amendment Bill. The GST is governed by GST Council and its Chairman is Union Finance Minister of India Arun Jaitley. Present paper highlights the weaknesses of the present tax structure and also throws some light on the concept, nature & significance of newly introduced tax i.e.GST. GST, as the giant indirect tax structure designed to support and enhance the economic growth of a country. This paper will try to understand why there is so much huge hue and cry against its implementation and how this proposed GST regime may hamper the growth and development of the country.