Impact Of GST On Indian Economy In Context With Various Sectors

Abstract

The implementation of GST in India has overhauled the indirect tax system by introducing a unified structure for goods and services, simplifying tax processes and reducing hidden levies. Sectors like consumer goods and infrastructure have benefitted from reduced costs and streamlined operations. However, industries such as financial services and telecom have faced challenges due to increased tax rates. Small-scale enterprises have experienced better compliance under a tiered system, though there remains a need for greater awareness, clarity, and enhanced digital infrastructure. Overall, GST has established the groundwork for a more integrated national market, but continued efforts are necessary to address sector-specific challenges and optimize its effectiveness