India's taxation system had relied heavily on indirect taxes revenue since independence and it was counted as the major source of revenue. It was as complex as it has multiple taxes even on the same goods & services and different states have their own taxation structure. There were cascading effects, distorting tax structure which not only hampered the productivity but also slowed down the rate of economic growth. To remove this multiplicity of taxes and to reduce the burden of the tax payers a simple tax has been introduced named as Goods and Service Tax (GST) which is non - discriminating, transparent single indirect tax for the whole nation, which is projected to transform the nation into one unified market. It is a single tax on the supply of goods and services, right from the beginning of production to consumption that means from the manufacturers to the consumers. It has been more than two year to GST rollout in the nation. Transition period has been over now and the general observation and experiences of people are mixed. However, one year is a shorter period of time to evaluate the rate of success of GST but it worth an assessment of the performance.

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Keywords: GST, IGST, CGST, SGST, Cascading Effects, Input Tax Credit, Indirect Taxes.