The Goods and Services Tax (GST) is a vast concept that simplifies the giant tax structure by supporting and enhancing the economic growth of a country. GST is an indirect tax system which replaces taxes like service tax, excise duty, Value Added Tax, turnover tax, etc. GST is a value added tax to be levied on both goods and services, at both the centre and state level. This is a single tax which will be levied on the product or service which is sold. The Goods and Services Tax has revolutionized the Indian taxation system. The GST Act was passed in the Lok Sabha on 29^th March, 2017, and came into effect from 1^st July, 2017. This paper highlights the impact of GST on the Indian tax system. GST will improve the collection of taxes as well as boost the development of Indian economy by removing the indirect tax barriers between states and integrating the country through a uniform tax rate. Before GST, tax on tax was calculated and tax was paid by every purchaser including the final consumer. The taxation on tax is called the cascading effect of taxes. GST avoids the cascading effect as tax is calculated only on the value added at each transfer of ownership. The GST seeks to create a national market for goods and services by subsuming multiple taxes at the national and state level, thereby creating a paradigm of one nation, one tax, one market.