The Goods and Services Tax (GST) has resulted in significant structural changes in India’s indirect taxation system, which have a direct impact on how businesses manage working capital across a wide range of industries. This inquiry looks into how GST affects cash flow, corporate liquidity, and IIFL Capital Services’ operational performance. The GST system has altered the operation of input tax credits, compliance restrictions, and tax deadlines. The GST’s elimination of cascading taxes has made taxes more clear and understandable. Nonetheless, the delay in credit materialization and the increase in compliance expenses have increased the difficulty of managing short-term cash flow. According to the report, in order to properly manage working capital under GST, businesses must be able to respond digitally to the new tax system, conduct prompt credit reconciliation, and practice solid financial planning. The report contends that GST eventually leads to a more transparent and effective tax system, which will help enterprises like IIFL Capital Services, despite the initial difficulty in getting financing.