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Abstract
The Goods and Services Tax is a unified tax which is levied on the value added for the delivery of goods and services. The implementation of the new taxation system was put in place on the 1st of July, 2017. However, it might be interesting to note that the proposal for putting up a new taxation regime took place long before that. The idea of implementing GST was birthed in the year 2000 with the efforts of an Empowered Committee(EC) under the Late Shri Atal Bihari Vajpayee. However, it took a failed attempt to pass the bill in 2009 and several years of commitment to finally get it implemented under the government of Honorable Shri Narendra Modi. In this piece, we’re going to look at the inner workings of this new taxation regime and also look at how India is affected by GST Impact, Examples, and Industry by industry breakdown is what we wish to take a look at.