Taxation is an essential component of economic development and public finance in India. The Indian taxation system has evolved significantly from ancient times to the modern GST regime. This article discusses the historical evolution of taxation in India, including ancient, medieval, colonial, and post-independence tax systems. It also highlights the structure, objectives, principles, and major reforms in Indian taxation. The implementation of Goods and Services Tax (GST) and the proposed GST 2.0 reforms are important milestones aimed at simplifying taxation, improving transparency, and promoting economic growth. The study concludes that taxation plays a vital role in revenue generation, economic stability, and sustainable national development.