The roll out of GST will be a revolutionary step in seventy years of independence in the field of indirect taxation reform in India. By amalgamating a large number of Central and state taxes into a single entity, it will mitigate the cascading or double taxation effect in a major way and pave the way for a common unified national market." It is expected that, GST will help to improve the productivity in the country as well as will be benefited to the consumers, as maximum rate of GST is predetermined. It will also help to avoid the multiple taxation, processes, tax evasion etc. GST is important for industry to understand the impact and opportunities offered by this particular piece of legislation. GST will affect all industries, irrespective of the sector. It will impact the entire value chain of operations, namely procurement, manufacturing, distribution, warehousing, sales, and pricing. It will also trigger the need to relook at internal organization IT systems. It is expected to attendant in a harmonized national market of goods and services and shall lead to a simplified, assesse-friendly tax administration system. It will include most of the country's Central and statelevel duties and taxes, thus making the country one national market and contribute significantly to the growth of the economy. The GST subsumes India's messy plethora of indirect taxes, duties, surcharges and cesses into a single tax.

This research paper probable pros and cons about upcoming are discussed. The GST Bill has been approved by president of India on 3rd August 2016 in Rajya Sabha and on 8th August 2016 in Lok Sabha with ratification by more than 50 percent of state legislation. It is expected that GST will be implemented from 1st July, 2017.