Abstract

After a long set back Goods and Services Tax(GST) acted as a pathway and got the common consensus in the house of parliament and implemented in month of July 2017. Complex nature of taxation system has come to an end just because of the step taken by government to overcome the issues and loopholes. Goods and Service Tax which is unanimously known by the abbreviation of GST went through different procedures of implementation under difference governance and bureaucracy. It is also known by acronym “One Nation One Tax”. The basic purpose of the paper is knowing the concept of indirect taxation system and phases of implementation under different tax regime. The paper also brings into limelight the historical and current perspective of the indirect taxation system.

Key words: Value added tax, Goods and Service tax, Taxation regime, Implementation.