Goods and Service Tax (GST) is a tax on goods and services with value addition at each stage having comprehensive and continuous chain of set of benefits from the producer’s/ service provider’s point up to the retailer’s level where only the final consumer should bear the tax. Introduction of a GST to replace the existing multiple tax structures of Centre and State taxes is not only desirable but very important in the emerging economic environment. Increasingly, services are used or consumed in production and distribution of goods and vice versa. GST would also greatly help in removing economic distortions and will help in development of a common national market. The main objectives of this research article are to study the basic concept and objectives of GST, and its impact on Indian growth. As per the experts, GST has a potential to increase the growth of Indian economy and there will be increase in exports which can be between 10-14%. But before GST come into effect, its facing a lot of problems like passing of GST bill in Rajyasabha, consent of the states, threshold limit of GST, robust IT network etc. To tackle these problems, the government should take necessary steps and spread more awareness about GST and its advantages among the different sections of societies.