Goods and Services Tax (GST) is one tax subsuming all the indirect taxes in the economy. It is said to be national tax. Because, it is a uniform tax across all states of the country: only one rate will prevail on one set of goods across all parts of the country. GST is essentially a tax on value addition covering the entire range of production activity from manufacturer to the consumer. The present paper tries to explain the concept of GST, find out the structure of GST and its types, explore the positive as well as negative impact of GST on Indian economy. The present study is based on secondary data and the secondary sources includes books, journals, websites, newspapers, magazines etc.