Abstract
Being one of the major financial reforms, GST has impacted almost all the major and minor sectors of our economy. It has came out with both the sides of a coin, that is, along with the advantages it has put forward a number of challenges and issues before different industries, which are still tackling the problems with respect to GST mechanism. Goods and Services Tax is a soleoutstanding tax mechanism built on the nucleus of ‘one nation one tax’. Guarded by innumerable legislative, political and technical hurdles, the giant tax structure came into effect on 1st July 2017. With the advent of GST, the Automobile Industry has benefitted to a considerable extent but is also faced with a number of technical and other challenges which will be discussed in this paper. This paper will focus on the brief introduction of the Goods and Services Tax, Indian Automobile Industry and will analyse the positive as well as negative aspects and impact of GST implementation with respect to Automobile Industry in India.
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