Our study specifically focuses on the impact of GST on capital market. In India on 1July 2017, the launch was held which is known as goods and service tax. It abolished all the indirect taxes such as VAT, service tax etc. It is a game changer in Indian economy. The slogan was given by Indian Government was that “One Nation, One Tax, One Market”. Our country had adopted dual model that is administration by both central and state government. In new regime, the investors in capital market will be affected in the form of an increase in tax on services for capital gains from previous 15% to 18%. The increase in tax can affect the stock indices so to see the impact we will take five industries that is Automobile, Cement, FMCG, IT and Paint industry data of BSE  before and after implementation of GST and our objective is to find the significant difference between pre and post implementation of goods and service tax.

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Keywords: GST, Capital Market, BSE, Stock Indices, Indian Economy.