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. Although there are many hurdles to be crossed before the implementation of GST the Central government reiterated its commitment towards the adoption of a ‘flawless’ GST for the survival of the India’s economy in the face of increasing international competition consequent to globalization and liberalisation. Despite the various impediments to the proposed transition, until the time GST is implemented, it would be worthwhile to assess its positive impacts on the various development areas viz. agriculture, manufacturing industry, GDP, government revenue, EXIM trade etc