In the Instant time there was a major changes in the Financial system and Tax system of India. Since from 1990's Indian economy is developing economy even though, India has a huge resources during the time of Pre-Independence. In a view of developing the Indian economy and reducing flaws in the Taxation and Financial system of India, the Government of India has taken decisions like Demonetization, GST etc. The purpose of the research paper is to understand the challenges/problems/difficulties and flaws in the GST.