GST and Its Implications for Business Dipayan Datta Chaudhuri Professor, Indian Institute of Management Indore Abstract The paper has discussed the salient features of Goods and Services Tax (GST) and its implications for business. The rationale for implementation of GST in the context of drawbacks in the present system of indirect taxation is also outlined. The paper has analysed pros and cons of the proposed design of GST. In conclusion, it is mentioned that successful implementation of GST would largely depend on the quality of tax administration at both the Central and the State level.