Tax is a complex subject which was implemented in earlier time to add on to the revenue of the government. Different countries follow different tax system according to their convenience. Recently there was a proposal to bring globalization to the system of corporate taxation. The paper is about the implementation and effect of the global taxation regime on Indian Economy. The new regime will be a water shed event in the history of economic laws. The paper analysis the advantages and disadvantages of this regime in the growth of Indian economy.