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Stream/Area:
-
Subject:
-
Paper ID:
10.55041/IJSREM.GSTCOS039
Volume:
10 |
7 |
Jul 2026
Pages:
1-12
Publication Frequency:
Monthly (12 issues per year)
License:International Journal of Scientific Research in Engineering and Management follows the Creative Commons Attribution 4.0 (CC BY 4.0) License, allowing free use and distribution with proper attribution.
MBA
Priyadarshini Lokmanya Tilak Institute of Management Studies & Research, Nagpur
Student (CFA Level 1)
Priyadarshini Lokmanya Tilak Institute of Management Studies & Research, Nagpur
MBA
Priyadarshini Lokmanya Tilak Institute of Management Studies & Research, Nagpur
Goods and Serives Tax (GST) was introduced on July 2017 in India. This tax is the most significant and unified tax system in India. It has been nine years since its implementation and hence it is important to assess its achievements, challenges and prospects. This research study examines the data related to GST in India from 2017-18 to 2025-26. The data used in this study is secondary data. The study aims at analysing its major achievements and evaluates impact on tax compliances and taxpayers’’ participation. This study also measures its contribution to revenue generation and financial efficiency. This study further identifies challenges related to GST implementation and analyses its future performance. The findings of the study reveal that GST has significantly increased the revenues of the government in India. It has also expanded the taxpayers’ base in India. It has promoted tax digitisation through initiatives e-way bills and e-invoicing. It has also improved tax compliances processes in India. But there are also challenges associated with the implementation of GST in India. These include input tax credit difficulties, multiple tax slabs and emission of few key sectors from its purview. The study concludes that while GST has largely achieved its intended objectives but continued reforms are necessary to strengthen the tax system so as to maximize its contribution to India's economic development.
KEYWORDS
GST has proved to be a landmark reform in the indirect taxation system in India. The present research studied the achievements, challenges and future prospects of GST in India, using the secondary data. The findings of the study show that GST has considerably increased the revenue generation for the government. The taxpayers’ base in India has expanded after the implementation of GST. The current GST system has also strengthen the tax compliances through digital initiatives. The importance of GST can be seen in its revenue collections and in its increasing contribution in GDP in India. Inspite of these attainments, GST continues to face several fundamental challenges. This includes input tax credit complexities, compliance burden, multiple tax slabs and non-inclusion of certain products and sectors. To conclude with, it can be said that, GST has achieved its objectives at large. It has created a transparent and integrated indirect tax system. The events of frequent reforms namely; rationalisation of tax slabs, compliance simplification and increasing GST base is essential to maximise its long term benefits.
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Publication Date
7/4/2026
Peer Review Type
Double-Blind Peer Review
Review Rounds: 2
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