International Journal of Management Research and Social Science (IJMRSS) ISSN 2394-6407(Print) Volume 3, Issue 2, April – June 2016 ISSN 2394-6415(Online) 27 A Study on GST Implementation and its Impact on Indian Industrial Sectors and Export S.Thowseaf #1 , M. Ayisha Millath #2 Alagappa Institute of management, Alagappa University, Karaikudi - 630003 thowseaf786@gmail.com ayishamillath05@gmail.com Abstract— GST is a taxation procedure for goods and services transported from one destination to other; it was discussed for years by the Government of India to get implemented and still now a pending case. Taxation and its associated governing laws, in the current scenario, is playing a significant role in the life of business, individual also for the government for the betterment of policies for social good. This paper is designed to provide an overview of the impact of GST when implemented, it features, GST in light of export, suggestion on a strategy to be adopted for implementing GST and it's associated benefits when implemented. The paper is made using exploratory research methodology using secondary data. The study lends information that, GST is beneficial for most of the industrial sector reducing overall cost of commodity to great extent, however GST is not favorable towards agricultural sector, this is due to the fact that, as of now Indian government is not charging any tax on agricultural goods for domestic consumption, wherein, when GST is implemented, tax will be imposed on agricultural products also, this may lead to rising in the price of the agricultural products, which is considered to be basic entity for the survival. Thereon implementing GST paves a path for India‘s industrial and economic development undoubtedly, whereas, it fullest success can be realized, when government liberalizes tax policies towards few commodities such as agricultural products, which are considered to be a basic entity for survival instinct of people. Thereby, GST implementation and liberalization of tax policies on certain commodities will create a beneficial impact on industry, individual and economy of India. Keywords—GST in India; Features of GST; Benefits of GST; Impact of GST; GST with respect to export. 1. Introduction 1.1 History of Taxation The word tax was derived from Latin ‗taxare‘, which means - to estimate. A tax is not a voluntary contribution instead it is enforced payment by legislative authority on public residing under them. The first taxation system can be traced out in Ancient Egypt during 3000BC – 2800BC. The taxation practices followed early times can be clearly seen even in the religious book such as bible and Quran. To illustrate with an example in Bible – Genesis ―But when the crop comes in, gives a fifth of it to Pharaoh. The other four-fifths, you may keep as seed for the fields and as food for yourselves and your Girish Garg, households and your children‖ (www.eduplace.com, 2015). In India, the tradition of taxation was in practice from ancient times, books like ‗Arthasathra‘ and ‗Manu Smriti‘ are the best reference. The history of Islamic ruler states that taxes were implemented and was formally called as Jizya, Jizya was collected prior to Akbar period and also during Aurangzeb rule, who is the last prominent Mughal emperor, whose period of rule was 1618AD to 1707AD (thejihadproject, 2015). It was during British rule; India has witnessed a remarkable change in the taxation system. Although, it was in favor of British government it was more modern and scientific taxation method and system that can be implemented and well managed (Sury, 2006). Setting up a separate administrative system to monitor taxation was first done and practiced by the British government. Both direct taxation and indirect tax were followed by British. Tax India in recent times is levied by both central government and state governments, few minor taxes are also levied by Municipalities and local authorities (Garg, 2014). In recent times tax is formally a segregated into different types as; toll, impost, duty, customs, excise, subsidy, aid, a tribute to the government of the respective country. 2. Objectives of the Study  To understand the concept of Goods and Services Tax;  To examine the features of Goods and Services Tax;  To analyze the impact of GST on various industrial sectors.  To provide information on Goods and Services Tax with respect to Export.  To know the benefit of Goods and Services Tax to the economy, business and industry and consumer.  To analyze the implementation strategy of GST in India. 3. Research Methodology Exploratory research methodology has been utilized in the preparation of research paper. Secondary data is been