The Goods and Service Tax (GST), the biggest reform in India’s indirect tax structure since the economy began to be opened up 25 years ago at last looks set to become reality. The Constitution Amendment Bill finally got the nod of Rajya sabha. The government successfully stitching together a political consensus on the GST Bill to pave the way for much awaited roll out of the land mark tax reform that will create a common market of 1.25 billion people. GST will be a game changing reform for Indian economy by developing a common Indian market and reducing the cascading effect of tax on the cost of goods and services. It will impact the Tax structure, Tax incidence, Tax computation. Tax payment, Compliance, Credit utilization, and reporting leading to a complete overhaul of the current indirect tax system. Law, provide for a period which may extend to five years, based on the recommendations of the GST council. Here, every tax payer will be issued a 15- digit common Identification.