CASESTUDYON

“GOODS SERVICES TAX (GST)-A New Tax Reform in India”

A project report being submitted to Department of Commerce and Management

Studies, Dr .B. R . Ambedkar University, Srikakulam in partial fulfillment of

Requirements for the award of the degree of

MASTEROFCOMMERCE
Submitted by

DHAVALA KIRANMAI

Regd.No:2010908012

Under the guidance of

Dr. CHINNA SUBHARAO

M.Com, M B A , M. Phil, Ph.D
Teaching Association
DEPARTMENT OF COMMERCE AND MANAGEMENT STUDIES ,
DR. B.R AMBEDKAR UNIVERSITY - SRIKAKULAM

DEPARTMENTOFCOMMERCEANDMANAGEMENTSTUDI
ES DR.B.R.AMBEDKARUNIVERSITY, SRIKAKULAM

2020- 202
 DEPARTMENTOFCOMMERCEANDMANAGEMENTSTUDIES
DR.B.R.AMBEDKARUNIVERSITY, SRIKAKULAM

DECLARATION
I, DHAVALA KIRANMAI, here by declare that this project report entitled“ GOODS AND

SERVICES TAX (GST) –A New Tax Reform in India,” is written and submitted by me under the

guidance of Dr. CHINNA SUBHA RAO M.Com, MBA , M. Phil, Ph .D, Faculty Member,

Dept. of Commerce and Mgt. Studies, Dr.B.R.Ambedkar University Srikakulam for the

award of Degree of MASTER OF COMMERCE. In addition, it is an original work.

This report either full or part not forms a part of the requirement for any degree or

diploma earlier.

Place:

Date: DHAVALA KIARANMAI

Regno: 2010908012
 DEPARTMENT OF COMMERCE AND MANAGEMENT

STUDIES DR.B.R.AMBEDKAR UNIVERSITY,

SRIKAKULAM

CERTIFICATE

This is to certify that the project work entitled “GOODS AND SERVICES
TAX (GST) – A New Tax Reform in India”, is a bonified work done by
DHAVALA KIRAN MAI, student of M.COM, under my guidance and supervision
submitted to the department of commerce and management studies,
DR.B.R.AMBEDKAR UNIVERSITY, srikakulam in partial fulfillment of the requirement
for the award of degree of master of commerce.

Place:
Date:

Dr. CHINNA SUBHARAO

M.Com, MBA, M. Phil, Ph.D.
Teaching Association
Dept. Of Commerce & Mgt. Studies Dr
.B.R. Ambedkar University - Srikakulam
 ACKNOWLEDGEMENT

I express my sincere gratitude to my project guide Dr. CHINNA SUBHA RAO

M.Com, MBA , M.Phil,Ph.D Faculty Member in the Dept. of Commerce &Mgt. Studies

Dr . B. R. Ambedkar University Srikakulam for his guidance, encouragement and

support throughout my entire project work, without his timely guidance and advice this
project could not have been completed effectively.

I express my sincere gratitude to Dr. K . K A R U N A N I D H I c o u r s e c o o r d i n a t o r ,

Department of Commerce and management Studies, of the University for their encouragement

and support throughout my entire project work.

This acknowledgement would be incomplete without thanking Mr. S.Ravi

Kumar accountant officer of the company , who spared his valuable time and gave
mean insight into all the relevant information about the project. Finally I would like to
express my deep sense of gratitude to my beloved Parents as because without their
support and encouragement I would not have finished this work. It was indeed a learning
experience for me.

PLACE:

DATE: DHAVALA KIRANMAI

Regno:20109080
 CONTENTS Page no

CHAPTERI

Introduction 1-11

Need for the study 12

Objective of the study 13-27
Methodology of the study 28-29
Limitation of the study 30-31
CHAPTE
RII

Difference between Previous Tax Structure and GST 32-39

CHAPTERIII

Questionnaire, Data analysis and Interpretation 40-41

Presentation and Interpretation of data 42-60

CHAPTERIV

Summary 61-62

Finding of the study 62-63

Suggestion 63-64

Conclusion 65

CHAPTER-V
Bibliography 66-67

Annexure Questionnaire 68-70

 INTRODUTION

INTRODUCTION TO GST

GST is one indirect tax for the whole nation, which will make India one unified common

market. The GST intends to subsume most indirect taxes under a single taxation regime.

GST is a single tax on the supply of goods and services, right from the manufacturer to

the consumer. Credits of input taxes paid at each stage will be available in the

subsequent stages of value addition, which makes GST essentially a tax only on value

addition at each stage. The final consumer will thus bear only the GST charged by the

last dealer in the supply chain, with set-off benefits at all the previous stages. This is

expected to help broaden the tax base, increase tax compliance, and reduce economic

distortions caused by inter-state variations in taxes.

Why GST has been proposed?

Our Constitution empowers the Central Government to levy excise duty on

manufacturing and service tax on the supply of services. Further, item powers the State

Governments to levy sales tax or value added tax (VAT) on the sale of goods. This

exclusive division of fiscal powers has led to a multiplicity of indirect taxes in the
country. In addition, central sales tax (CST) is levied on inter-State sale of goods by the

Central Government, but collected and retained by the exporting States. Further, many

States levy an entry tax on the entry of goods in local areas.

This multiplicity of taxes at the State and Central levels has resulted in a complex

indirect tax Structure in the country that is ridden with hidden costs for the trade and

industry. In order to simplify and rationalize indirect tax structures, Government to

India attempted various tax policy reforms at different points of time. A system of VAT

on services at the central government level was introducedin2002.

The states collect taxes through state sales tax VAT, introduced in 2005, levied on intra-

state trade and the CST on inter-state trade. Despite all the various changes the overall

taxation system continues to be complex and has various exemptions.

This

ledtotheideaof"OnenationOneTax"andintroductionofGSTinIndianfinancialsystem.Thisissi

mplyverysimilartoVATwhichisatpresentapplicableinmostofthestatesandcanbe termed as

National level VAT on Goods and Services with only one difference that in this system

not only goods but also services are involved and the rate of tax on goods and services

are generally the same.

What are the major chronological events that have led to the introduction of GST?

GST is being introduced in the country after a 13 year long journey since it was first

discussed in the report of the Kelkar Task Force on indirect taxes. A brief chronology out

lining the major milestones on the proposal for introduction of GST in India is as follows:

In 2003,the Kelkar Task Force on indirect tax had suggested a comprehensive Goods
and Services Tax (GST) based on VAT principle.
A proposal to introduce a National level Goods and Services Tax (GST) by April1,

2010 was first mooted in the Budget Speech for the financialyear2006-07.

Since the proposal involved reform/ restructuring of not only indirect taxes levied by the
Centre But also the States, the responsibility of preparing a Design and Road Map for the
implementation of GST was assigned to the Empowered Committee of State Finance
Ministers (EC).
Based on inputs from Govt of India and States, the EC released its First Discussion
Paper on Goods and Services Tax in Indian November,2009.

In order to take the GST related work further, a Joint Working Group consisting of

officers from Central as well as State Government was constituted in September,2009.

In order to amend the Constitution to enable introduction of GST, the Constitution

(115thAmendment) Bill was introduced in the LokSabha in March 2011. As per the

prescribed procedure, the Bill was referred to the Standing Committee on Finance of

the Parliament for examination and report.

Meanwhile ,in pursuance of the decision taken in a meeting between the Union

Finance Minister and the Empowered Committee of State Finance Ministers on 8th
November, 2012,'Committee on GST Design', consisting of the officials of the

government of India state government empowered committee was constituted.

This Committee did a detailed discussion on GST design including the Constitution (115th)
Amendment Bill and submitted its report in January, 2013. Based on this Report, the EC
recommended certain changes in the Constitution Amendment Bill in their meeting at
Bhubaneswar in January 2013.
The Empowered Committee in the Bhubaneswar meeting also decided to constitute

three committees of officers to discuss and report on various aspects of GST as

follows:-

(a)Committee on Place of Supply Rules and Revenue Neutral Rates; (b)Committee on

dual control, threshold and exemptions; and(c) Committee on IGST and GST on imports.

The Parliamentary Standing Committee submitted its Report in August ,2013 to the Lok
Sabha. The recommendations of the Empowered Committee and the recommendations of
the Parliamentary Standing Committee were examined by the Ministry in consultation with
the Legislative Department. Most of the recommendations made by the Empowered
Committee and the Parliamentary Standing Committee were accepted and the draft
Amendment Bill was suitably revised.
The final draft Constitutional Amendment Bill incorporating the above stated changes
were sent to the Empowered Committee for consideration inSeptember2013.

The EC once again made certain recommendations on the Bill after its meeting in
Shilling in November 2013. Certain recommendations of the Empowered Committee
were in corporate In the draft Constitution (115thAmendment) Bill. The revised
draft was sent for consideration of the Empowered committee in March 2014.
 The 115th Constitutional (Amendment)Bill, 2011, for the introduction of GST introduced
In the LokSabha in March 2011 lapsed with the dissolution of the 15th LokSabha.
In June 2014, the draft Constitution Amendment Bill was sent to the Empowered
Committee after approval Of the new Government.
Based on a broad consensus reached with the Empowered Committee on the

contours of the Bill, the Cabineton17.12.2014 approved the proposal for

introduction of a Bill in the Parliament for amending the Constitution of India to

facilitate the introduction of Goods and Services Tax (GST) in the country. The

Bill was introduced in the Lok Sabha on 19.12.2014,andwas passed by the Lok

Sabha on06.05.2015.

It was then referred to the Select Committee of Rajya Sabha, which

submittedItsreporton22.07.2015.
LokSabha and RajyaSabha has unanimously passed the 122nd Constitutional
Amendment Bill in August, 2016 which later got the assent of the President.
THEJOURNEYOFINDIA:

The GST journey began in the year 2000 when a committee was set up to draft law.
It took 17 years from then for the Law to evolve. In 2017, the GST Bill was passed in the
Lok Sabha and Rajya Sabha. On 1stJuly 2017,the GST Law came into force.
What are the features of the GST Bill?
The salient features of the Bill are as follows:
1. Conferring simultaneous power upon Parliament and the State Legislatures to make

laws governing goods and services tax;

2. Subsuming of various Central indirect taxes and levies such as Central Excise Duty ,
Additional Excise Duties, Service Tax, Additional Customs Duty commonly known as
Countervailing Duty, and Special Additional Duty of Customs;

Subsuming of State Value Added Tax/Sales Tax, Entertainment Tax (other than the tax levied
by the local bodies), Central Sales Tax (levied by the Centre and collected by the States),
OctroiandEntrytax,PurchaseTax,Luxurytax,andTaxesonlottery,bettingandgambling.

Dispensing with the concept of' declared goods of special Importance' under the Constitution;
Levy of Integrated Goods and Services Tax on inter-State transactions of goods and services;
 Main Features
• Concurrent jurisdiction or levy& collection of GST by the Centre(CGST)
and the States (SGST)
• Centre to levy and collect IGST on supplies in the course of inter-
State supplies &on imports
• Compensation for loss of revenue to states for five years
• All transactions and processes only through electronic mode –
Non intrusive administration
• PAN Based Registration
• Registration only if turnover more than Rs. 20/40 lac (Rs. 20 lac for
special category States except J&K)
• Option of Voluntary Registration § Composition threshold shall be Rs.
150 lac (1.5Crore)
• Composition scheme shall not be available to inter-State suppliers, service
• Providers(exceptrestaurantservice)Andspecifiedcategoryofmanufacturer s
Deemed Registration in three workin
• Input Tax Credit available on taxes paid on all procurements (except
few specified items)
• Set of auto-populated Monthly returns and Annual Return
• Composition taxpayers to file Quarterly return
• Automatic generation of returns
• GST Practitioners for assisting filing of returns
• GSTN and GST Suvidha Providers (GSPs) to provide technology
based assistance
• Taxcanbedepositedbyinternetbanking,NEFT/RTGS,Debit/creditcardandove
rthecounter
• ConceptofTDSforcertainspecifiedcategorieswef01.10.2018
• ConceptofTCSforE-CommerceCompanieswef01.10.2018
• The e-way bill system has been introduced nation-wide for all inter-
State movement of goods with effect from 01.04.2018. As on 16.06.2018,
all States and Union Territories have introduced e-way bill system for
intra- state movement of goods
• Refund to begrantedwithin60days
• Provisionalreleaseof90%refundtoexporterswithin7days
• Interest payable if refund not sanctioned in time
• Refund to be directly credited to bank accounts
• Comprehensive transitional provisions for smooth transition of
existing taxpayers to GST regime
• Special procedures for job work
• System of GST Compliance Rating
• Anti-Profiteering provision – National Anti-Profiteering Authority
already setup
A) Standing Committee on Anti-Profiteering already setup
B) State level Screening Committee already setup
 Why is Dual GST required?
India is a federal country where both the Centre and the State have been assigned the

powers to levy and collect taxes through appropriate legislation. Both the levels of

Government have distinct responsibilities to perform according to the division of

powers prescribed in the Constitution for which they need to raise resources. A dual

GST will, therefore, be in keeping with the Constitutional requirement of fiscal

federalism.

Bills for implementation of GST regime

Bills passed for the implementation of GST regime:
1. TheCentralGoodsandServicesTaxBill2017(The CGST Bill)

2. The Integrated Goods and Services Tax Bill 2017 (The IGST Bill)

3. The Union Territory Goods and Services Tax Bill 2017 (The UTGST Bill)

4. The Goods and Services Tax ( Compensation to the States)Bill2017(The Compensation Bill)

• The CGST Bill makes provisions for levy and collection of tax on intra-state

supply of goods or services or both by the Central Government.

• IGST Bill makes provisions for levy and collection of tax on inter-state supply of

goods or services or both by the Central Government.

• The UTGST Bill makes provisions for levy on collection of tax on intra-UT supply of

goods and services in the Union Territories without legislature. Union Territory GST is

a into States Goods and Services Tax (SGST) which shall be levied and collected by

the States/Union Territories on intra-state supply of goods or services or both.

The Compensation Bill provides for compensation to the states for loss of revenue
Erasing on account of implementation of the goods and services tax for a period of five
years as per section of18TH the Constitution (One Hundred and First Amendment )
Act,2016.

Applicability of GST
1. GST is applicable on the supply of goods and services.

2. GST is not levied (initially) on:

• Petroleum crude

• High speed diesel

• Motor spirit (petrol)

• Natural gas

• Aviation Turbine fuel

1. Alcoholic liquor for human consumption is exempted from GST.

2. Tobacco and tobacco products will be subjected to GST. The Centre may apply excise duty on tobacco.

Examples-GST at work:-

Let us suppose that GST rate is 10%, with the manufacturer making value addition of

Rs.30 on his purchases worth Rs.100 of input of goods and services used in the

manufacturing process .The manufacturer will then pay net GST of Rs.3 after setting-off
Rs.10 as GST paid on his inputs (i.e. Input Tax Credit) from gross GST of Rs.13.The

manufacturer sells the goods to the whole-seller. When the whole-seller sells the

same goods after making value addition of (say),Rs.20, he pays net GST of only Rs.2,

after setting-off of Input Tax Credit of Rs.13 from the gross GST of Rs.15 to the

manufacturer. Similarly, when a retailer sells the same goods after a value addition of

(say) Rs.10, he pays net GST of only Re.1, after setting-off Rs.15 from his gross GST of

Rs. 16 paid to whole-seller. Thus, the manufacturer, whole-seller and retailer have to

pay only Rs.6 (=Rs.3+Rs.2+Re.1)as GST on the value addition along the entire value

Chain from the producer to the retailer, after setting-off GST paid at the earlier

stages. The overall burden of GST on the goods is thus much less.

How will be Inter-State Transactions of Goods and Services be taxed under GST in
terms of IGST method?
In case of inter-State transactions, the Centre would levy and collect the Integrated Goods
and Services Tax (IGST) on all inter-State supplies of goods and services under Article
269A (1) of the Constitution. The IGST would roughly be equal to CGST plus SGST. The IGST
mechanism has been designed to ensure seamless flow of input tax credit from one State to
another. The inter -State seller would pay IGST on the sale of his goods to the Central
Government after adjusting credit of IGST, CGST and SGST on his purchases (in that order).
The exporting State will transfer to the Centre the credit of SGST used in payment of IGST.
The importing dealer will claim credit of IGST while discharging his output tax liability
(both CGST and SGST) in his
own State. The Centre will transfer to the importing State the credit of IGST used in
Payment of SGST. Since GST is a destination-based tax all SGST on the final product will
ordinarily accrue to the consuming State.
 How would GST be administered in India:

GST Council will be tasked with optimizing tax collection for goods and services by the State and Centre.

The Council will consist of the Union Finance Minister (as Chairman), the Union Minister of State in charge

of revenue or Finance, and the Minister in charge of Finance or Taxation or any Other , nominated by each

state government.

The GST Council will be the body that decides which taxes levied by the Centre, States and local bodies will go

into the GST; which goods and services will be subjected to GST; and the basis and the rates at which GST will

be applied.

Composition of GST Council GST

council consists of:

1. The Union Finance Minister as Chairman),

2. The Union Minister of State in charge of Revenue or Finance,

3. The Minister in charge of Finance or Taxation or any other Minister , nominated by each state

government.

All decisions of the GST Council will be made by three-fourth majority of the votes cast; the Centre shall have

one –third of the votes cast, and the states together shall have two- third of the votes cast.

The GST Council will make recommendations on:

1. Taxes, cesses, and surcharges to be subsumed under the GST,

2. Goods and services which may be subject to ,or exempt from GST,

3. The threshold limit of turnover for application of GST,

4. Rates of GST,
5. Mode lGST laws, principles of levy ,apportionment of IGST and principles related to place of supply.

6. Special provisions with Respect to the eight north eastern states, Himachal Pradesh,

Jammu and Kashmir, and Uttarakhand,

7. And related matters.

How will the used for the implementation of GST?

For the implementation of GST in the country, the Central and State Governments have

jointly registered Goods and Services Tax Network (GSTN) as a not-for-profit, non-

Government Company to provide shared IT infrastructure and services to Central and

State Governments ,tax payers and other stakeholders. The key objectives of GSTN are

to provide a standard and uniform interface to the taxpayers, and shared infrastructure

and services to Central and State/UT governments. GSTN is working on developing a

state of-the-art comprehensive IT infrastructure including the common GST portal

providing front end services of registration ,returns and payments to all taxpayers, as well

as the backend IT modules for certain States that include processing of returns,

registrations, audits, assessments, appeals, etc. All States, accounting authorities, RBI

and banks ,are also preparing their IT infrastructure for the administration of GST. There

would no manual filing of returns. All taxes can also be paid online. All miss-matched

returns would be auto-generated, and there would be no need form annual interventions.

Most returns would be self-assessed.

This Act has the potential to usher in monumental changes in the indirect tax regime in
India.
 Need for GST:

Need for the study:-

GST is becoming one of the most prominent topics india. The announcement by the

Government of India on implementation of GST had created various reactions from

the general public and the most important business. GST is one of the tools that are

proposed by the government to reduce continuous deficit budget in India. This paper

discusses the GST as anew tax reform in India, and covers several issues in order to

enhance the understanding and readiness business people in adopting GST.

 OBJECTIVESOFTHESTUDY

To evaluate the performance of GST on different sections of

people. To analyse the impact of GST on businesses and public.
How GST will impact on small business in India
To identify the strength and weaknesses of implementing GST in Indian economic structure.
To offer suggestions to the Indian economic structure.

1. To evaluate the performance of GST on different sections of people.

AnalyzingtheaftereffectsofGSTonthetopfivesectorsintheIndianeconomywouldgiveyouafairidea

of it.These sectors are

FMCG[0to26%earlier][Now,0to28%]

Travel and aviation[5.6to8.4%earlier][Now,5-12%]

E-commerce[15%earlier][Now18%]
Restaurants[upto20%earlier][Now,1218%]

Hotels[upto30%earlier][Nowupto28%]Real Estate[11to20%earlier] [Now, 12-

18%]

1. FMCG:
The tax rates for the generic and overall products in this category doesn’t seem much

effected, however the very basic essentials like toothpaste, hair oil, soap etc. have gone

down. The sector seems to be benefitted by the seamless flow of credit, though, some of

the players have wrapped up their regional warehouses to get rid of the compliance

pressures and to leveraged full benefits of GST in the form of e-waybill.

1. Travel and Aviation:

The economy class traveler has reasons to cheer while the one in the business class feels
the heat. No doubt, the seamless flow of credit nourishes the sector, however the aviation

fuel which is kept out of GST is surging the flying costs for the industry. Complexities

in terms of multiple registrations have also choked some bandwidth for the sector.

2. E-commerce:
The e-commerce spread is out of the State VAT laws and would not be counted in as‘

agents of supplier of goods ’. While the elevated pool of credits has cushioned the

industry, though the smaller e-tailor finds itself lost in the colossal compliances. The

industry is also kept aside to avail the Composition Scheme.

3. Restaurants and Hotels:

The summing of all the multiple taxes being coined to one has a definite impact on

the effective tax incidence, however ,the state wise registration has added to the

compliance burdens. Alcohol being out of the GST umbrella has contributed to

increased tax costs + documentation intricacies.

4. Real Estate:
There has been some amount of clarity and transparency imbibed by the classification of

works contracts transactions being now considered as supply of service and with the

introduction of a single tax concept compared to the erstwhile era where both VAT and

service tax was charged. Increased rate of tax on most inputs like cement, paint etc. is

causing the overall cost of erection group , while no GST on Stamp Duty adds to the

pinch. The sector which is flooded with the unregistered service providers gets a

momentary relief for not paying the tax under reverse charge mechanism until 31stmarch

2018 .Nutshell , there hasBeen around of hits and misses across different verticals of the
 economy, however, the industry experts also don’t deny that the long term

remunerations of the new generation taxation regime out weight the mid-way tantrums.

1. Analyze the impact of GST on businesses and public.

GST is a boost competitiveness and performance in India’s manufacturing sector.

Decliningexportsandhighinfrastructurespendingarejustsomeoftheconcernsofthissector.Mu

ltipleindirect taxes had also increased the administrative costs for manufacturers and

distributors and with GST in place, the compliance burden has eased and this sector will

grow more strongly.

But due to GST business which was not under the tax bracket previously will now have

to register. This will lead to lesser tax evasion.

Impact of GST on Service providers:-

As of March 2014, there were 12, 76,861 service tax assesses in the country out of

whichonlythetop50paidmorethan50%ofthetaxcollectednationwide.Mostofthetaxburden is

borne By domains such as IT services, telecommunication services, the Insurance

industry, business support services, Banking and Financial services, etc. These pan-India

businesses already work in a unified market, and will see compliance burden becoming

lesser. But they will have to separately register every place of business in each state.

Sector-wise Impact Analysis:-

Logistics
 In a vast country like India, the logistics sector forms the backbone of the economy. We

can fairly assume that a well-organized and mature logistics industry has the potential to

leap frog the“ Make in India ”initiative of the Government of India to its desired position.

E-commerce

The e-commerce sector in India has been growing by leaps and bounds. In many ways,

GSTwillhelpthee-comsector’scontinuedgrowthbutthelong-termeffectswill be particularly

interesting because The GST law specifically proposes a Tax Collection at Source (TCS)

mechanism, which e- com companies are not too happy with. The current rate of TCS is at

1%.

Phama

On the whole, GST is benefiting the pharm and healthcare industries. It will create a level
playing field for generic drug makers, boost medical tourism and simplify the tax
structure. If there is any concern what so ever, then it relates to the pricing structure (as per
latest
news).Thepharmsectorishopingforataxrespiteasitwillmakeaffordablehealthcareeasiertoaccess
byall.
Telecommunications

In the telecom sector, prices will come down after GST. Manufacturers will save on costs

through efficient management of inventory and by consolidating their warehouses.

Handset manufacturers will find it easier to sell their equipment as GST has negated the

need to set upstate-specific entities, and transfers tocks.

The will also save up on logistics costs.

Textile

The Indian textile industry provides employment to a large number of skilled and
unskilled workers in the country. It contributes about 10% of the total annual export, and

this value is likely to increase under GST. GST would affect the cotton value chain of the

textile industry which is chosen by most small medium enterprises as it previously

attracted zero central excise duty(under optional route).

Real Estate

The real estate sector is one of the most pivotal sectors of the Indian economy, playing an

important role in employment generation in India. The impact of GST on the real estate

sector cannot be fully assessed as it largely depends on the tax rates. However, the sector

will see substantial benefits from GST implementation, as it has brought to the industry

much-required transparency and accountability.

Agriculture The agricultural sector is the largest contributing sector the overall Indian

GDP. It covers around 16%of Indian GDP. One of the major issues faced by the

agricultural sector is the transportation of agri-products across state lines all over India.

GST will resolve the issue of transportation.

FMCG

The FMCG sector is experiencing significant savings in logistics and distribution costs as

the GST has eliminated the need for multiple sales depots.

Freelancers

Freelancing in India is still a nascent industry and the rules and regulations for this

chaotic industry are still up in the air. But with GST, it will become much easier for
 freelancers to file their taxes as they can easily do it online .They are taxed as service

providers, and the new tax structure has brought about coherence and accountability in

this sector.

Automobiles

The auto mobile industry in India is a vast business producing a large number of cars

annually , fuelled mostly by the huge population of the country. Under the previous tax

system, there were several taxes applicable on this sector like excise, VAT, sales tax,

road tax, motor vehicle tax, registration duty which will be subsumed by GST.

Start-ups

With increased limits for registration, a DIY compliance model, tax credit on

purchases, and a free flow of goods and services , the GST regime truly augurs well for

the Indian start-up scene .Previously, many Indian states had different VAT laws which

were confusing for companies that have a pan-India presence, especially thee-com

sector. All of this has changed under GST.

HOWGSTWILLIMPACTONSMALLBUSINESSININDIA:

1. HIGH TAX BURDEN:

High tax burden for many small businesses (SME’s)in the manufacturing sector with
reduced in the turnover limit(Rs.20lakh)than the previous (Rs.1.50Crores)system,

2. INCREASE IN EXPENDITURE:
 Most of the small businesses prefer to pay taxes and file returns on their own to save cost.

With the new GST system they will require expert assistance, so they have to be are the

additional cost of hiring professionals. Also, businesses will need to train their employees

according to the new GST will increase their expenses.

3. CHANGING THE OLDS OF TWARE:

The accounting software or ERP’s for filing tax returns which consist of excise, VAT,

and service tax system in them. With the GST, it will require them to change their ERPs.

Purchasing news of ware and training employees will increase overhead costs.

4. INCREASEDPRICES:

Previously, some sectors are exempted from taxes or pay the minimum tax. But the GST has

only 4 proposed tax rates of 5%, 12%, 18%, and 28%. Thus, in most sectors, the tax burden

will increase which in turn leads to the increased prices.

5. PETROLEUM PRODUCTS ARE NOT YET INCLUDEDIN GST:

Petroleum products are being kept outside of the GST means states will levy their own

taxes on this sector leads to high prices. Input Tax credit also not available for the

industries which are highly depended on petrol and diesel. This will lead to high prices of

goods.

Recently, the finance minister Mr Arun Jautley said that petroleum will be subsumed under
GST only after the states, through the GST Council, are agreed on it. So, there hope for

inclusion of petroleum in GST.

GST REGISTRATION IN THE MULTIPLE STATES:

GST requires businesses to register in all the states they are operating in. This will increase the

burden of compliance.

DIFFICULTIES FOR E-COMMERCE WITH GST BILL:

These days e-commerce is the most common way of trading. Many SME’s operate

through their own online shopping websites or other third-party e-commerce websites to

sell their products. They will require to register or all the state they trade in , also they

will not be eligible for composition scheme and will be required to pay taxes like any

large organization.
A CONCLUSION TO ADVANTAGES AND DISADVANTAGES OF GST:

Change is definitely never easy. It is important to get inspired by the global economies that

Implemented GST and overcome the complex and experience the advantages of the unified

tax system, reduced compliance and easy tax input credits. With GST, most of the current

challenges of this move will be a story of the past. India will become a single market where

goods can move freely within the country and there will lesser compliance to deal with for

businesses.

To identify the strengths and weaknesses of implementing GST in Indian

economic structure.

WHAT ARE MAJOR ADVANTAGES AND DISADVANTAGES OF

GST ON INDIAN ECONOMY?

Coming Advantages and Disadvantages of GST? This is the game-changing reform for

the Indian economy. GST will create a common market and helps to maintain the flow of

credit across the supply chain. And, reduce the cascading effect of the tax on the cost of

goods and services.

The GST will impact the whole scenario of taxation in India. Here are the major

Advantages and Disadvantages of GST (in India).

 MAJORADVANTAGESOFGSTININDIA:-

1. Is Taxation in India goanna easier, while GST will replace 17 indirect tax levies?

2. Input Tax credit will encourage persons to pay tax who liable for, this will boost

the economy in the country.

3. It will create a common market a cross the supply chain, while the previous tax

System divided by different state lines and pushing costs up 20-30%.

4. Logistics, inventory costs will decrease.

5. Investmentmayboostformanycapitalgoods,inputtaxcreditisnotavailable.

6. Full input tax credit under GST will mean a 12-14% drop in the cost of

capital goods. Expected:

A6%riseincapitalgoodsinvestment,2%overall.
7. AspartofMakeinIndia.

8a)ManufacturingwillgetmorecompetitiveasGSTaddressesdownfalloftax, inter-

statetax, logistics costs andfragmentedmarket.

b)GSTprovides increasedprotectionforMakeinIndiagoodsfromimportswith

appropriate duty.

1. The national common market under GST can be dispersed and

 creating opportunities for less developed states.

2. Manufacturedgoodscouldbecomecheaperwiththelowerlogisticsandtaxcosts.

3. GDPwillincrease,HSBCestimatesan80basispointriseinGDPgrowthforupcoming3

-5 years. NCAER pegs this at 0.9-1.7% thanks to the elimination of tax

cascading.

4. E-commercewillgeteveneasierwithnewGSTtaxreformamongthe States.

MAJORDISADVANTGESOFGSTININDIA

1. Some experts expressed worry for GST in India would impact negatively on the

real-estate market. It may increase about 8 % to the actual cost of new homes

andreducedemandbyabout12%.

2. Some Experts described that Central GST (CGST), State GST (SGST) are

nothing but new names for Central Excise/Service Tax, VAT and CST. Hence,

there is no majorreductioninthe numberof taxpayers.

3. Many of retail products have only 4% tax on them in the previous tax system.

AfterGST,garments and clothes couldbecomemoreexpensive.

4. The airlines will be more expensive as Service taxes on airfares previous range

from6–9%.WithGST,itisincreasedtwiceupto15%.
 5. Adoption and migration to the new GST system would involve teething troubles

andlearnfor theentire ecosystem.

5.To offersuggestionstotheIndianeconomicstructure.

SuggestionsforImprovementunderGST

WiththeimplementationofGST,Indiatookasteptowardsunifiedcommonnationalmarket.Itai

ms to bring in increased efficiency and compliance and also boost government’s ‘ease of

doing business’ initiative. However, being a new, evolving law, there are certain

improvementsrequired. Fewareas thatneedconsideration areasgiven below:

1. Processesmustbe reduced so that business can operate efficiently in the best

interest of the people and for economic growth. Filing of 37 returns per GSTIN

could be a very timeconsumingexercise,

whereineveryonewouldnotevenhavethebandwidthtocomply with.

2. Reliefmustbegiventosmallscaleoperatorsandparticularlyreducedprocessesshouldbeappl

icable to them. They do not have finance or resource to comply. Much of

India’sbusinessisoneortwomanshow.Thefacilitytofilequarterlyreturnsshouldbeext

endedtoassesses with upto10croreturnover.

3. RatesshouldberationalizedandreducedbtomakeIndiacompetitiveandininteresto

fcomplianceandeconomic growth. The

highestrateshouldbekeptat18%andthereshouldbe only few items that fall in 28% slab.

 Daily use items such as soaps, crèmes, movie tickets, electrical goodsshould not

betaxed at 28%.

4. Further, there isalsonoprovisiontoamendGSTReturnonceuploaded,

incasesomeclerical error is found later. Provision should urgently be made to allow

rectification of returns.

5. The matching concept of input credits requires large volume of data of the

supplier to be matched with that of the receiver. This process should be simplified,

wherein only broad main criteria may require matching like the invoice value and the

tax amount and matchingofspecific,quired likeinvoicenumberand date.

6. Valuation Rules lack clarity and are debatable. This is likely to lead to litigation

and transfer pricing issues / litigation. These rules need to be rationalized, simplified

and be fair to one and all.

7. In case IGSTispaidinsteadofCGSTandSGST, and vice-versa, the recourse

available isonlyrefund.Assessesshouldbeallowedtoself-adjustinsuchcases.

8. In respectofcapitalgoodsreceivedonorafter01.07.2017(Capitalgoods in

transit),transitionalcreditof tax paid in earlier regime should also be available.

Transitional input creditshould also be available on goods or services are

delivered or received before

theappointeddateandtheassessereceivedtheinvoicesafterappointedday.
9. Credit of KrishiKalyanCessshould be allowed to be carried forward as eligible

credit, as it wasallowed asset offin theservice tax regime.

10. Composition schemeshouldalsobeprovided tosmallscaleserviceproviders.

Exempt supplies shouldbeexcludedfromthetermAggregateTurnover(‘AT’)forthe

purposesofdetermination of registration requirements.

11. Advance Authority for Rulings should be active at the earliest as GST law is

already in forcesinceJuly1st,2017.

12. Antiprofit earingprovisionsneedreconsiderationsthesemayunnecessarily cause

hardships to businesses. System should be made to ensure that this is not misused so

as to cause difficulties

13. Single cash ledger concept should be used instead multiple cash ledgers i.e.

separate cash ledger for CGST, SGST, IGST, interest, penalty etc. Further it is

suggested to allow partial /period payment of offset of tax so that an assessed can bear

interest only on the short payment.

14. Reversechargepayableby registereddealers incase ofpurchasefrom unregistered

dealers (Section9(4))shouldbecompletely withdrawn, instead
ofkeepingitinaabeyancetill31.03.2018.
15. The issues being faced by the exporters should be dealt with and the

refund procedure should be activated immediately

GST methodology

Goods & Service tax (GST),the milestone tax reform since independence of India is on

its way to implementation journey and proposed GST bill is under discussion

everywhere. This is very crucial stage to understand the various methodologies proposed

in the GST bill. As we all aware that GST is the value added tax, we can take input tax

credits as like present VAT credits in various taxes/levies by the Central & State

Governments. Proposed GST given the provision of manner of taking input credit and

utilization thereof.

The present scenario of adjusting tax payable under state VAT can be adjusted with state

tax input & Central VAT payable with central VAT input (CENVAT), the same scenario

will be followed in GST also addition to that the dealer can take the input on the inter

state transactions also.

GST refers the Goods & Service tax and it going to comprise the various VAT acts

presently in force at state and central levels. Hence the proposed GST has the different

kind of taxes which has follows:

1. CGST–Central Goods & Service tax which levied by Centre

2. SGST–State Goods & Service tax which levied by State

3. IGST–Integrated Goods & Service tax. This is tax which will be at tracting on
 inter-state supply of goods & services. This will be levied and collected by the

Central Government. This would be CGST plus SGST

Inputs tax credit methodology :Input credit on CGST can be adjusted against

would be available for payment of CGST and the input credit on SGST would be

available for

thepaymentofSGST,thecrossutilizationbetweenCGST&SGSTcanbeadjustedonlyfortheinte r-

statetransactions only.

The IGST which levied on the interstate supply of goods & service, the interstate seller

will pay IGST after availing of the credit of IGST, SGST &CGST on their purchases.

Limitations of the Study

1. the most obvious limitation of the study is its cross-sectional design. Therefore,

firm conclusions about the directions of causality implied in the model cannot be

drawn.Thus,relationshipsamongvariablesmustbeinterpretedwithcaution.Interpretati

onsofmodels using structural equation modelling are also not proof of causality.

True causal in fervencies can only be drawn testing models using longitudinal data.

This is especially important for a subject like online shopping behavior that is not

static but is a developmental process that changes overtime.

Since only self-report measures were used, common-method variance and response

consistency effects may have biased the observed relationships. However, perceptions of
usefulness and ease of use are not objective measures. Because perceptions are necessarily

self-reported, such measures are the most effective at measuring these cognitions.

Therefore, this is an unavoidable criticism of the study of online

shoppingbehavior.ThedatacollectionwasconfinedtoonlyfiverelativelylargecitiesofIndiasinceco

nstraints were faced during data collection. The replication of the study at different regions

of India would enable better generalizability of the findings of the study. At the same time

data collection during real shopping experience could have elicited better responses

improving findings.
2. The sample for the present study comprised of 509 shoppers of Electronic Gadgets
and Home. Appliances. This sample is only a very small proportion of the entire
population of retail shoppers in the country. Therefore, research studies with much
larger sample size would be required to ensure appropriate generalization of the
findings of the study.
3. Thestudywaslimitedtoindividualshoppingbehavior.Indiabeingacollectivisticcountry

, most of the shopping happens in a family set up. Consideration of family

shopping behavior might have revealed interesting findings.

4. Theconstructofshoppingorientationswasmeasuredthroughaninstrumentdevelopedby

a researcher in other country. Though the instrument shows scientific reliability

andvalidity,yetthisisthefirststudyforwhichithasbeenadaptedinIndiaandmorestudiesa

rerequiredbeforeitisestablishedasanacceptabletoolforexploringShopping
 CHAPTER-II
Difference between Previous Tax Structure and GST

With an aim of simplifying tax structure in India, GST proposes to remove the
geographical obstacles for trading, and transforming the entire nation to ‘One Common
Market Place.’
While it is believed that the ‘One Nation- One Tax’ regime is paving path towards a
better economy of our country, questions related to how is this reform going to be any
better than the earlier tax transformations India has seen over the past years (VAT-
Service Tax-Excise), is a matter of concern. How is the new tax structure going to effect
the consumer and the impact it will have on various sectors? We de-code this myth by
listing down key differences between GST and the previous tax structure.

1. Broad scheme

Previously, there were separate laws for separate levy. For instance, Central
Excise Act, 1944, respective State VAT laws etc. With GST regime, there will only be one
such law, as GST will subsume various indirect taxes.
2. Tax Rates

The previous tax regime had separate rates, such as, Excise @ 12.36 % and Service Tax @ 14%. With
GST, there is only one CGST rate and a uniform rate of SGST across all states.

3. Cascading Effect

Credit of CST and various other indirect taxes isn’t allowed in the previous tax structure, whereas
under GST the entire concept of CST has been eliminated with introduction of IGST.

4. Tax burden on Tax Payer

Previously the tax burden on tax payer was considerably high. With GST on board, tax burden has
reduced significantly since all taxes are integrated, and the burden is split equitably between
manufacturing and services.

5. Cost Burden on Consumers

Certain taxes became part of cost due to presence of cascading effect. But, with the simple mechanism
of GST, cost burden has reduced by removing such effect and providing credit.
 6. Concurrent Power

Pre-GST, there was no such power to both Centre and State on same subject tax matter. With GST on
board, both Centre and State are vested with the concurrent power to make laws with respect to
goods and services tax, as proposed in Article 246A of the Constitution. The intra- state trade now
comes under the jurisdiction of both Centre and state; while inter-state trade and commerce is
“exclusively” under central government jurisdiction.

7. Compliance

Previously, tax compliance was complicated owing to the multiplicity of laws and their provisions to be
followed. With GST, tax compliance would be much easier, as only one law subsuming other taxes
would need to be followed.

8. Transparent Tax Administration

Previously, tax was levied at two stages in broad manner production and consumption, i.e., when
product moves out of factory. And also at retail outlet. GST is to be levied only at final destination of
consumption and not at various points. This brings more transparency and corruption free tax
administration.

Take a look at the graphic mentioned below. It highlights the fundamentals of GST, a dual concept tax
system. Under this system, tax is administered, collected, and shared by both the Centre and the State
governments, based on the nature of transaction (within the state or interstate).

The tax components of GST:-

CGST – Central GST is referred as CGST, applicable on supplies within the state. Tax collected will be
shared to Centre.

SGST – State GST is referred as SGST, applicable on supplies within the state. Tax collected will be
shared to State.

UTGST – Union Territory GST is referred as UTGST, applicable on supplies within the union territory.

Tax collected will be shared to State.

IGST – Integrated GST is referred as IGST, applicable on interstate and import transactions. Tax
collected is shared between Centre and State.

The Indirect Tax Structure pre-GST:- All the above mentioned indirect taxes
have been subsumed to bring about a new tax reform Goods and Services Tax (GST).
Whether you are a Buyer or supplier, Green GST helps you file and reconcile taxes with absolute
ease.

All the above mentioned indirect taxes have been subsumed to bring about a new tax
reform Goods and Services Tax (GST). Whether you are a Buyer or supplier, Green
GST helps you file and reconcile taxes with absolute ease.
The government has raised the goods and services tax on completed items such as clothes, textiles,

and footwear from 5% to 12%, beginning January 2022. The GST rate on textiles has been

raised to 12% from 5% beginning in January 2022. In addition, the GST rate on garments of any

value has been raised to 12% from 5%.

COMMEN

For example, items that now attract nil taxes under GST include wheat/rice, unbranded
flour, curd, butter milk, unbranded natural honey and children's drawing books. The

earlier tax incidence on such items was in the range of 2.5-7 percent, according to the

CBEC. Also, items such as UTH (ultra high temperature) milk, tea, milk powder, sugar,

vegetable edible oils, spices and footwear (priced up to Rs.500 ) will attract taxes of

5percent under GST , compared with the earlier tax incidence of 6-10 percent.

Here's the list of GST rate on some common use items ,as given by the CBEC:

Pre-GST
Description of goods GST
Tax
incidence rate

Wheat 2.5% 0%

Rice 2.47% 0%

Un branded flour 3.5% 0%

Curd/ lassie /buttermilk 4% 0%

Unbranded natural honey 6% 0%

Ultra high temperature(UTH)milk 6% 5%

Tea(other than unprocessed green leaves of 6% 5%

tea)
Milk powder 6% 5%

Sugar 6% 5%

Sweetmeats 7% 5%

Vegetable edible oils 6% 5%

Spices 6% 5%

Ketchup and sauces 12 12

% %
Mustard sauces 12 12
% %
Toppings, spreads and sauces (other
than mayonnaise,
Salad dressings , mixed condiments and 12 12
mixes seasonings) % %

Mineral water 27 18
% %
Sugar confectionery 21 18
% %
Children's picture/drawing/coloring book 7% 0%

Footwear of RSP (retail sale price) up

to Rs.500per
pair 10 5%
%
Kerosene pressure lantern 8% 5%

Coal 9% 5%

Toothpowder 12 12
% %
LED 15 12
% %
 X-ray films for medical use 23 12
% %
Diagnostic kits and reagents 16 12
% %
Fixed speed diesel engines of power not
exceeding
15HP 16 12
% %
Fly ash bricks and fly ash blocks 16 12
% %
Sewing machine 16 12
% %
Hair oil 27 18
% %
Toot hpaste 27 18
% %
Soap 27 18
% %
Foot wear of RSP more than Rs.500 per pair 21 18
% %
LPG stove 21 18
% %
Aluminum foil 19 18
% %

What is Green GST?

It is one of the best GST-ready accounting software that you will find in the market.
While it meets all the above mentioned characteristics of an ideal GST software, it also
ensures 100% accuracy in your business’

Inventory management, supply chain management, accounting and finance

management work. Green GST is a cloud-based software that is armed with a team of
experts from Moglix a hub of supply chain and operations. Toge ther we are here to serve
businesses, devoted to manage all your tax work and make your lives very serene,
very green.

GST or Goods and Services Tax replaced a slew of central and state levies from July 1. For the
month of July, firms are required to file simplified, self-assessed GST returns by August 20.
They will have to file complete returns in early September that itemize and reconcile
every single sales invoice. Amid all this, the Central Board of Excise and Customs has
once again listed some common-use items - and their pre GST tax rates - where the tax
incidence is lower or equal ever since GST came into effect. It has mentioned several
"items of common use" comparing GST rates with the earlier indirect taxes.

"The pre-GST tax incidence would be higher if the tax incidence on account of CST
(Central Sales Tax), octopi, entry tax etc. (which is more than 2 per cent) is also
included," said the CBEC, part of the revenue department under the finance
ministry.

What is Green GST?

It is one of the best GST-ready accounting software that you will find in the market.
While it meets all the above mentioned characteristics of an ideal GST software, it also
ensures 100% accuracy in your business’

Inventory management, supply chain management, accounting and finance

management work. Green GST is a cloud-based soft ware that is armed with a team of
experts from Moglix a hub of supply chain and operations. Together we are here to
serve businesses, devoted to manage all your tax work and make
your lives very serene, very green.

GST or Goods and Services Tax replaced a slew of central and state levies from July 1. For
the month of July, firms are required to file simplified , self-assessed GST returns by
August 20.
They will have to file complete returns in early September that itemize and reconcile
every single sales invoice. Amid all this, the Central Board of Excise and Customs has
once again listed some common-use items - and their pre GST tax rates - where the tax
incidence is lower or equal ever since GST came into effect. It has mentioned several
"items of common use" comparing GST rates with the earlier indirect taxes.

"The pre-GST tax incidence would be higher if the tax incidence on account of CST
(Central Sales Tax), octopi, entry tax etc. (which is more than 2 per cent) is also
included," said the CBEC, part of the revenue department under the finance
ministry.
 CHAPTER-III

QUESTIONNAIRE, DATA
ANLYSIS AND
INTERPRTATION

Data Analysis:

Data analytics for success with GST

The Goods and Services Tax Network (GSTN) will become the information technology
backbone of the new indirect tax regime. Apart from filing about 37 returns online in a financial year,
businesses will have to submit various other documents, including receipts and reconciliations, which
will generate a lot of data. Due to the generation of such large amount of data, companies will require
strong GST data analytics in the months following its rollout.

Data analytics with GST will:

Reduce errors

According to a survey, 63% of taxpayers still heavily depend on spreadsheets for their GST
compliance and reporting requirements. However, audits have revealed that errors occur when manual
processes and spreadsheets are used to develop Business Activity Statements (BAS).

This means mistakes can occur in core data when preparing for GST returns. They can emanate
from the accounts payable and/or accounts receivable subsidiary ledgers. Additionally, your business
may be missing out on under claimed GST or may have overpaid

suppliers if the underlying numbers that are relied on for GST returns are incorrect. Therefore, performing
GST data analysis will assist you in furnishing evidence with due care.

Perform various analysis

Data analytics software will perform various analysis tests that will help secure your
company’s profile. For example, the supplier variance analysis will feature inconsistent GST
treatment for the same supplier and will predict an over or under recovery. The GST rate analysis
will depict transactions where GST differs from the standard rate. The GST default exception report
will highlight those transactions where GST claimed will be different from GST default rate. Zero
GST analysis will portray GST transactions that have yet not been claimed. By efficiently
performing such tests, data analytics minimizes the scope for any discrepancies associated with GST
filing.

PRESENTATION AND INTERPRETATION OF DATA

 How do you feel about the facilities available in GST like old tax system, new tax system etc.?

RESPONSE NO.OF PERCENTAGE

RESPONSENTS
Excellent 32 64
Very 15 30
good
Good 3 6
Satisfactory 0 0
TOTAL 50 100

120

100

80

60
NO . OF RESPONSE
40 PERCENTAGE

20

0
 Interpretation:

64% respondents felt that the facilities are excellent, 30% that they are
very good and 6% expressed that the above facilities are good.
 Goods and Service Tax (GST) an how much income holders much of
know that?

RESPONSE No. Of. Percentage

Actual Students
turnover
Below 10 lac's 3 6
Above 10 lac's 8 16
Above 50 lac's 9 18
Above 50 cr's 30 60
ToTAL 50 1000

Chart Title
120

100

80

60

40

20

0 below 10 lacsabove 10 lacsabove 50 lacsabove 50 crs TOTAL

No. of studentspercent

Interpretation:

60%respondentsverywellknowing GST,18%thattheyareknowingsomeGST,and16%express

That the very less of the know GST.

  Which type of age persons to know GST?

RESPONSE NO.OFRESPONSEN PERCENTAGE

TS
Excellent(10-20Age) 15 30
Very good ( 20- 28 56
30Age)
Good (30-40Age) 3 6
Satisfactory(40- 4 8
50Age)

TOTAL 50 100

Chart Title
120

100

80

60

40

20
EXCELLENT (10- very good (20-good(30-40) satisfactory (40- TOTAL
0 20)30) 50)

No. of students percent

Interpretation:
56% respondents felt that the facilities are excellent, 30% that they are very good and 8% expressed that the above facilities
are good.

 How far the course helped you to understand the working of GST tax?
 RESPONSE NO.OF PERCENT
RESPONSE AGE
NTS
To a large extent 33 66
To a considerable extent 12 24
To a small extent 5 10
Not a tall 0 0
Total 50 100
Interpretation:

90% respondents agreed that the course helped to understand the working of
organization. They might have expressed like this because a book let containing information
like profile of GST and
Function of its various wings is distributed to the trainees along with the other course
material.

 What is your general reaction to the content of the GST?

RESPONSE NO.OFRESPONSE PERCENTAG

NTS E
Highly Relevant and 22 44
useful
Relevant and useful 28 56
Not relevant and useful 0 0
Total 50 100

60

50

40

NO.OF RESPONSENTSP
30
28 ERCENTAGE

22
20

10

00
Highly Relevant and Relevant and useful not relevant and usefuluseful
Interpretation: 56% viewed that the GST is Relevant and useful and 44% viewed as
highly relevant and useful
6 How do you feel about the quality of lectures on GST?

Interpretation:

56 % respondents felt that the quality of lectures on GST is excellent, 24% felt that they
are very good. 12% expressed good and 8% satisfactory.
  Do you think that the will help you in your working GST?

RESPON NO.OF PERCENTAGE

SE RESPONSENTS
Yes 50 100
No 0 0
TOTAL 50 100

Chart Title

100

50
NO

0
No. of students YES

percent

YESNO

Interpretation:

100% respondents expressed that the GST will helping practical working. For accounting

personnel various billing procedures etc; have hen explained by solving many problems

and case laws have been explained to the HRD personnel.

  What is your opinion about the duration of this GST?

RESPONSE NO.OFRESPONS PERCENTAGE

ENTS
Long 4 8
Adequate 43 86
Short 3 6
TOTAL 50 100

INTERPRETATION:
86% respondents felt the duration of GST is adequate. The reason behind the is might be the
Fact that 6 hours per day in 15 days duration covering all relevant and useful information which
Is useful to employees in functioning of their duties.

 What is your opinion about the punctuality of GST?

Response No. Of Percetage

Yes (punctuality) students 50 100
No ( non punctuality) 0 0
 Chart Title

percent

No. of students

0 20 40 60 80 100 120

NOYES

Interpretation:

100% respondents expressed happiness about the punctuality of the GST. This might

beduetotheexistenceofexcellentcoordinationbetweentheentrepreneurandtheconsumers

whichenabled the timings.

 How far these GST tax system will help you to meet the
Demands of changing technology?

RESPONSE No. Of. Percent

Students
TO LARGE 15 34
EXTENT
TO 29 58
CONSIDERABLE
EXTENT
TO SMALL 04 8
EXTENT
NOT A ALL 0 0
TOTAL 50 100
 Chart Title

100
80
60 percent
40 No. of students
20
0

No. of studentspercent

Interpretation:

58% respondents expressed that these GST tax system will meet the demands of the

changing technology to a considerable extent, 34% expressed that it will help to a large

extent and a small extent.

 Do these GST bring changes like No more hidden taxes, Check on price
rise, Traders go digital, Check-posts removed,?

RESPONSE No. Of. Percent

Students
TO LARGE 08 36
EXTENT
TO 35 70
CONSIDERABLE
EXTENT
TO SMALL 07 14
EXTENT
NOT A ALL 0 0
TOTAL 50 100
 No. of students

TO A LARGE EXTENT TO A CONSIDERABLE EXTENT

TO SMALL EXTENT TOTAL NOT AT ALL

Interpretation:
70% respondents expressed that these GST will help the entrepreneur and consumers in
increasing the more benefits. To a considerable extent, 16% expressed to an extent
and
14% to a small extent.
 How far these GST attempt to improve the droughts doubt in entrepreneur and
consumers?
RESPONSE No. Of. Percent
Students
TO LARGE 16 32
EXTENT
TO 31 62
CONSIDERABLE
EXTENT
TO SMALL 3 6
EXTENT
NOT A ALL 0 0
TOTAL 50 100
 Interpretation: 62% respondents felt that this GST tax system will help the
entrepreneur and consumers in useful to considerable extent , 32 large extent , 6%
small extent.
 Whether the course material is updated with reference to the
Course structure?
Response No. Of PERCENTAGE
students
YES 50o 100
No 0
TOTAL 50 100

Chart Title

YESNoTOTAL
Interpretation:

100% respondents felt that the updated course material has been given to them. This

might have been because the course material given to the trainees covers the latest Acts
And Amendment.

 Any modifications or improvements in the GST structure are required?

Response No. Of PERCENTAGE

students
YES 5 10
No 45 90
TOTAL 50 100

Chart Title

100%

80%

60%

40%

20%

0% YES No TOTAL

no. of studentsPERCENTAGE

Interpretation:

90% respondents felt that the need of improvements in the course structure.
 CHAPETR-V
GST – Summary
The main objective of the Indian government in implementation of GST is to bring “ONE
NATION and ONE TAX”. By providing relief to producers and consumers in the form of
wide a comprehensive coverage of input tax credit set-off, service tax set off and
subsuming the several taxes. Efficient formulation of GST will lead to resource and
revenue gain for both center and states majorly through widening of tax base and
improvement in tax compliance
.Further, GST have a positive impact on various sector and industry. The implementation
of GST requires concentrated efforts of all stake holders namely, central and state
government, trade and industry. Electronic processing of tax returns, refunds and tax
payments through ‘GSTNET’ without human intervention will reduced corruption and tax
evasion. But in check on business transactions through seamless credit and return
processing will reduce scope for black money generation leading to productive use of
capital. Therefore, it is necessary on the government to educate, conduct proper
training, continuous seminars and workshops on GST, is need of the hour.

Finding of the study

After Analysis and Interpretation of the data these are followings findings were emerged

1. Most of the respondents are Male

2. Majority of the respondents i.e. 58 % comes under the age group above
40 years and 32%^ are comes under 25- 40 years.

3. More than 60% respondents are related to Businessman category.

4. The most of respondents perception are very positive towards the GST and
 they are aware of GST through the mass media

5. 56 % respondents are that opinion GST is very good tax reform for India
and it is the turning point of the taxation system.

6. Most of the customer’s perception that GST is very beneficial in long Term
for economy of

the country and also effect of GDP.

7. Maximum 50% respondents are respond GST has increased the various
Legal formalities.

8. Majority of the peoples have perception that they still need more clarity
on GST and opened that they discuss about GST with others

9. Most of the customer’s opinion that GST is fair tax. And also GST
is predominantly compliance tax

Suggestions
Suggestions for simplification of GST:-

 Simplification of GST Return. There should be single return, for all types of
registered person divided into different sections and may be made half yearly
like Service Tax Returns.

 Registration should be centralized instead of State specific.

 There should be only one rate of GST, say 18% and abatement provision may be
introduced for different category of supply or separate Valuation Rules may be introduced.

 Service sector should also be included in Composition scheme.

 Petroleum products &liquor should also be brought within the ambit of GST.

Suggestions given by responders:-

 Primarily, the consumer should be aware of what GST is and what its benefits are for
 him/her as a consumer.
 Registration for All Traders & Service Providers, with Exemption, for Small
Scale Suppliers from Collecting & Remitting GST.

Conclusion

Today, GST is an important issue in India and it believed that it will boost tax
consumption revenue. Thus in ensuring the smooth implementation of GST, all parties
must be well prepared and give full commitment towards it. The public should not solely
rely on the government only i.e. the customs in ensuring its success but the
responsibility is especially for the businesses.

Most important, any weaknesses that are identified during the initial implementation
of GST should be improved and reengineered in order to create ‘win-win situation’ to
all parties involved as a conclusion, GST would enable to strengthen the India’s
economy and enhance quality life of the public.

CHAPETR-IV

Bibliography

LIST OF BOOKS:-

Bhatta chariya,-Research Methodology, Excel Books, New Delhi, 2003.

Paneer selvam- Research Methodology, Prentice Hall of India, New Delhi, 2006.

Dr. G. K. Pillai- VAT–A way out of the Indian Tax Muddle,

Rashmi Printers, Mumbai, 2005.

Satya Poddar, Ehtisham Ahmad, GST Reforms and Intergovernmental

 Considerations in India, Department of Economic Affairs, Ministry of

Finance, India, March 2009

P. Viswanath, Avalon, Implications of VAT for India: First the

pains, then the gains, Chennai.

R. Kavitha Rao, Pinaki Chakraborty, “Goods and service tax in India: An

assessment of the base”, January 2, 2010 Vol. xlv No.1, Economic and Political Weekly,
p.no. 50.

WEB SITES:-

 GSTN goods and service tax network: http://www.gstn.org/

 What is GST and how will you benefit fromit?

http://www.timesnow.tv/businesseconomy/article/what-is-gst-and-how-will-you-
benefit-
from-it/56785

 About- GST India- Goods and servicetax: http://www.gstindia.com/about/

 GST- answers to all your questions: https://qz.com/943504/gst-answers-

to-all-your-

questionsabout-indias-biggest-tax-reform/

 What is GST? everything you need

toknow: http://indianexpress.com/article/what-
is/gst-

andother-bills-approved-by-the-union-cabinet-all-you-need-to-know-4578453/
  GST compliance- Goods and service
tax: http://www.ey.com/in/en/services/ey-
goods-

and services-tax- gst

Annexure Questionnaire

1. What is GST?()
A. Goods and service tax B) Global Service tax

C) Goods sales Tax D) none of the above

2. Do you think India is ready for Implementing GST System?()

A. Yes B) No
Your answer is no

Then when would you answer Expected GST to be applied India?()

A. More then 1 year B) More then 3 years C ) More then 5 years

D) More t hen 10 years E) More than 20 years.

3. Which of the following taxes leviable on an intra-State transaction?()

a) CGST b) SGST c) BOTH OF ABOVE d) IGST

4. Which of the following taxes liveable on Imports?()

(a) CGST (b) SGST (c) IGST d) None of these

5. Within how many days a person should apply for registration?()

a. Within 60 days from the date he becomes liable for registration.

b. Within 30 days from the date he becomes liable for registration.

c. No Time Limit

d. Within 90 days from the date he becomes liable for registration.

6. What is the validity period of the registration certificate?
()

(a) One year (b) Ten years

(c) Valid till it is cancelled .(d) Five years.

7. What is cut off turnover limit for compulsory registration under GST?()
(a) Rs 9 lacs (b) Exceeds Rs 20 lacs

(c) Rs 50 lacs (d) No limit for registration

8. Who could be responsible to pay the GST? ()

(a) Person supplying(b) Person receiving(c) Both the above(d) None

9. Which of the following item (Service (p) is (are) not subject GST?()

A. Cooking oil B) Sugar C) Petrol D) Books E) Books F) None of these.

10. Do you think Implementing GST will cause higher price of Goods & services ()

A. Yes B) No

11. Do you think GST will be Burden on the People/Consumer?()

A. Yes B No

12. Which system do you think is more beneficial India?()

A) Goods and Service Tax B ) Old tax system

C) Both D) None of these

13. How do you get to Know about GST? Form :( )

A. Friends/Family B) Mass Media

C) Online Sources D) Other E) None of these

14. Do you think all Businesses need to be registered under GST?()

A. Yes B) No

15. The maximum rate prescribed under IGST is ?()

a) 14% b) 28%c) 26 d) 20%E) None of these

Name: - …………………………………………………

Age: - ……………………………………………………….

Designation?

A. Proprietor B) employee C) customer D) student or labour

Education: - …………………………………………………..
Annual income?

A. ……….. B)…………… C)D)……………..

Type of organisation: - ………………………………………………………