The present paper deals with the implementation and impact of Goods and Service Tax (GST) in India. Goods and Service tax (GST) is single regime tax system which makes India One Nation One Tax by subsuming both Indirect tax levied by Central government and State government. Currently Concept of Dual GST is implemented in India with Slab rates of 0%, 5%, 12%, and 18% and 28% respectively. Total 160 countries in the world have already implemented GST/VAT out of which France was the first country to implement GST and India being 161 countries to implement Goods and service tax (GST). The research paper explores the concept of GST and analysis of data shows that GST makes the necessary goods cheap while making luxurious goods costlier. GST is one of the most crucial tax reforms in India which has been long pending. It was supposed to be implemented from April 2010, but due to political issues and conflicting interests of various stakeholders it is still pending. It 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 along with its timeline of implementation in India. The paper is more focused on advantages of GST and challenges faced by India in execution.