From Fragmentation to Unity: GST’s Influence on the Indian Economy

Author(s)	jeetendra pal, vivek kumar singh
Country	India
Abstract	The complexity of doing business in India was high due to multiple overlapping taxes. The introduction of GST streamlined this by establishing a unified, transparent tax system. GST has fundamentally transformed India’s indirect tax framework, consolidating most taxes on goods and services—covering traders, manufacturers, and the sale and consumption activities—into a single tax. As one of the most significant tax reforms in India, GST replaced various indirect taxes, including Excise, Central Sales Tax, VAT, and Service Tax, which previously caused a cascading effect on pricing. This study explores GST's impacts across different sectors of the Indian economy, revealing both positive and negative outcomes based on industry characteristics and prior tax rates. Notably, GST has shown beneficial effects in sectors such as manufacturing, FMCG, and IT.
Keywords	Banking; entertainment; fast-moving consumer goods; indirect taxes; logistics; manufacturing; taxation system.
Field	Arts
Published In	Volume 7, Issue 2, March-April 2025
Published On	2025-03-03
DOI	https://doi.org/10.36948/ijfmr.2025.v07i02.38258
Short DOI	https://doi.org/g86xcs

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International Journal For Multidisciplinary Research