GST is a comprehensive tax system that will subsume all indirect taxes of states and central governments and unified economy into a seamless national market. It is expected to iron out wrinkles of existing indirect tax system and play a vital role in growth of India. This paper presents an overview of GST concept, explains its features, rational, rates across countries along with its timeline of implementation in India. The paper is more focused on comparative rates and affects on the common man and the traders of India in execution.

KEYWORDS: Tax, Indirect tax, Goods and Service Tax (GST), India.