The Goods And Services Tax Act In India: A Comprehensive Analysis Of Its Evolution, Features, And Impact
- IJLLR Journal
- May 3
- 1 min read
Amritansh Bansal, BBA LLB, Manav Rachna University
Plakshi Gupta, BBA LLB, Manav Rachna University
ABSTRACT
The Goods and Services Tax (GST) Act, implemented in India on July 1, 2017, marked a significant overhaul of the nation's indirect tax regime. This paper provides a comprehensive analysis of the GST Act, exploring its historical context, key features such as the dual structure and input tax credit mechanism, the role of the GST Council, compliance procedures, and its broad economic impact. The paper also addresses the challenges encountered during implementation and highlights recent amendments and legal interpretations shaping the GST landscape in India. By examining these critical aspects, this research aims to offer a thorough understanding of this transformative tax reform and its ongoing implications for the Indian economy.
Keywords: Goods and Services Tax (GST), Indirect Tax Reform, Indian Taxation System, GST Council, Input Tax Credit (ITC), Dual GST Structure, GST Compliance, Economic Impact of GST, GST Implementation Challenges, GST Amendments, Fiscal Policy India, Tax Administration Reform, GST Legal Interpretations
