“A Study on taxable goods and services under GST”

Summer Internship Project Report

Submitted in Partial fulfilment of the requirement for

the award of

POST GRADUATE DIPLOMA IN MANAGEMENT

(PGDM)

Submitted to

MANAGEMENT INSTITUTE FOR

LEADERSHIP AND EXCELLENCE
Wagholi, Pune

Submitted by:
Name of the student: Mr. Aninda Saha
PRN No: 20170209060013
Specialization – Finance
2017-19

[1]
 DECLARATION

I, Mr. ANINDA SAHA, studying in the second year of POST GRADUATE

DIPLOMA IN MANAGEMENT (PGDM) at Management Institute for
Leadership and Excellence, Wagholi, Pune, hereby declare that I have
completed the Summer Internship Project titled “E-Filing of Individual Taxes
with Multiple Form 16, Multiple house properties and other sources of income.”
as a part of the course requirements for POST GRADUATE DIPLOMA IN
MANAGEMENT (PGDM) Program.

I also declare that the work undertaken by me is original and has not been copied
from any sources. I further declare that the information presented in this project
is true and original knowledge and has not been submitted to MILE or
any other Institute for any other examination.

ANINDA SAHA Date:

PRN: 20170209060013

[2]
 ACKNOWLEDGEMENT

I would like to give my heartily gratitude to Mr. Vaibhav Sankhla,

Managing Director, H&R BLOCK, India, for having given me the
opportunity to do my project work in the organization and lighted my way of
progress with his guidance.

My sincere and deepest thanks to Prof. Gajanan Nerkar, HOD ( Finance) of

Management Institute for Leadership and Excellence, Pune for having spared
his valuable time with me for all the guidance given in executing the project.

My heart full thanks to the every employee of H&R BLOCK ., Pune who
gave me continuous support in every possible manner to gain practical
knowledge in Industry.

Finally I would like to thanks to all faculties, for the kind of support and also a
special thanks to Prof. Raju Varghese, Dean (Academics) at Management
Institute for Leadership and Excellence who helped me in preparing this
project report.

Name: ANINDA SAHA

PRN: 20170209060013

[3]
 EXECUTIVE SUMMARY
This project covers the basics of GST Act, 2017, taxable goods and services
under GST and effect on implementation of GST in INDIA.

I worked with H&R Block. I did the role of Tax Advisor for H&R Block in
Pune and worked with the GST Reconciliation team which includes filing of
GSTR-9C by the taxpayers and generating mismatch report is by comparing
GSTR 3B and GSTR 2A. The project also attempts to understand most effective
techniques to execute the reconciliation process.

Learnings of this project are as follows:

➢ What are the taxable goods and services under GST.

➢ Impact of GST.
➢ Awareness among the population regarding GST.
➢ The concept about input and output tax credit.

[4]
 TABLE OF CONTENTS

Serial No. Chapters Page No.

1 Introduction 6

2 Review of Related Literature 15

3 Methodology 19

4 Data Analysis 22

5 Limitations of the project 32

6 Findings 34

7 Conclusion 36

8 Suggestions 38

9 Learning of the project 40

10 Exhibits 42

[5]
1.INTRODUCTION

[6]
1.1 COMPANY OVERVIEW

History:

In 1955, two brothers, Henry and Richard Bloch, both CPAs, founded a
company which is now known as H&R Block Inc., with Henry as president and
Executive Officer and Richard as Chairman of Board. Today, H&R Block
serves not only US but also, Canada, Australia, Brazil and India. In 1960 H&R
Block became Public Limited Company and got listed on New York Stock
Exchange. Currently the CEO of the company is Mr. William Com.

H&R Block is one of the largest tax preparers in the world. It is the first tax
preparation company in the world. The company has prepared around 650
million returns since its inception in 1955. The company has revenue of over $3
billion. In 2014 H&R Block has prepared around 24.32 million tax returns
worldwide. H&R Block is one of the biggest companies in US with 12000 retail
offices.

Mission:

We believe in our people. We take care of our clients. We deliver for our
shareholders. We do the right thing.

Vision:
Our vision reflects the opportunity we see to execute our purpose successfully
for our clients: to be the leading global consumer tax company bringing tax and
related solutions to clients year-round. We are about consumer tax in the global
market with access anywhere, anyway, anytime.

[7]
Registered Offices in India:
• Ahmedabad
H&R Block (India) Pvt. Ltd.
No.G-1B GCP Business Centre, Opp Memnagar Fire Station
Nr Vijay Cross Roads, Navrangpura, Ahmedabad – 380009

• Bengaluru
H&R Block (India) Pvt. Ltd.
#471, 6th BLOCK, 80 FT. Road
Koramangala, Bengaluru – 560095

• Gurgaon
H&R Block (India) Pvt. Ltd.
102, First Floor, DLF Cross Point,
Opposite Galleria Market,
DLF Phase IV, Gurgaon -122002

• Hyderabad
H&R Block (India) Pvt. Ltd.
Owners Pride, 2nd floor,
Road No.12, Banjara Hills,
Hyderabad - 500034

• Mumbai
H&R Block (India) Pvt. Ltd.
First floor, B wing, Zainab Villa, 187, Turner Road,
Bandra West, Mumbai – 400050

• Pune ( HeadQuater )
H&R Block (India) Pvt. Ltd.
3rd Floor, Anand Square,
Survey No. 232, H. No. 1+2,
Sakore Nagar, Viman Nagar,
Pune - 411014

[8]
Current Status of the organization:
H&R Block is one of the Largest Consumer Tax Filing Company in India. They
have already tied up with 500+ corporate and e-Filed 6+ lakh returns, with 9/10
customer satisfaction score. H&R Block India strives to blend tax expertise with
a strong focus on continually improving the client experience to provide all its
clients with an unparalleled value proposition.
H&R Block’s early GST services are designed to take care of all your GST
requirements right from helping you with registering your business with
GSTIN, to creating GST complaint invoices for all your vendors and customers
and finally making sure that GST returns are filed accurately and in a timely
manner.
One of the Key differentiators of earlyGST as compared to any other offering
is our fully managed GST compliance services. Our GST experts take care of
end to end GST tax filing compliances and we even have an in-house GST
‘Centre of Excellence’, which makes sure that our GST experts are updated with
the latest developments in GST. This way we can take care of the entire process
right from registration to reconciliation in the most efficient way. As a part of a
Global MNC H&R Block that has a history of over 60 years, in assisting clients
to become tax compliant, earlyGST is just taking the legacy forward.

Major Services provided:

 Online Income Tax E-filing for ITR-1 and ITR-2
 In person Income Tax Filings
 NRI Tax E-filing
 US Tax Filing services from India
 Tax Consultation and assistance in scrutiny proceedings
 PAN Card Application
 Refund Assistance from Income Tax Department
 Business Tax Services: ITR 4 and 4s Filing
 GST Compliance which includes registering your business with
GSTIN, to creating GST complaint invoices for all your vendors
and customers and finally making sure that GST returns are filed
accurately and in a timely manner.

[9]
1.2 Background of the Project:

Goods and Services Tax or Indian version of GST is a destination-based tax

proposed by the government with the aim to eliminate several indirect taxes like
VAT, Central Excise Duty, Sales Tax, Service Tax, etc. It is fondly described
as one tax for one nation. However, unlike GST of other countries, Indian GST
is anything but one tax. It is actually a culmination of three taxes – Central
Goods and Service Tax (CGST), Integrated / Interstate Goods and Service Tax
(IGST) and State Goods and Service Tax (SGST).
CGST and SGST both will be levied on intra-state supply of goods and services
while IGST will be applicable on inter-state supply of goods and services in
India. Since it is a destination-based tax, it will be levied at all stages right from
manufacturer up to the final consumer with credit of taxes paid at previous
stages available as set off. In short, tax will be levied only on value addition and
the final burden of tax will be borne by the ultimate consumer.
Both CGST and SGST are planned to be levied on same tax base. While CGST
is expected to replace all central indirect taxes like Excise Duty and Service Tax
etc., SGST is expected to make VAT, Entertainment Tax (other than the one
levied by Local Body), Luxury Tax, Purchase Tax, Octroi /Entry Tax, cesses
and surcharges, taxes on lottery or betting etc. redundant. However, certain
goods like human consumable alcohol, tobacco products, motor fuels, crude
petroleum, natural gas, aviation turbine fuel will still be chargeable to Excise
Duty.
Goods and services are divided into five tax slabs for collection of tax - 0%, 5%,
12%,18% and 28%.
Following are the GST tax rates on some common items:
Tax Products
Rates(%)
5% Household necessities such as edible oil, sugar, spices, tea, coffee
are included. Indian sweets and life saving drugs are also covered
under this GST slab.
12% This includes computers and processes foods.
18% Hair oil, toothpaste and soaps, capital goods and industrial
intermediaries are covered in this slab.
28% Luxury items such as small cars , consumer durables like AC and
Refrigerators, premium cars, cigarettes and aerated drinks , High-
end motorcycles are included here

[10]
Though edible items like sugar, tea and coffee are included in the 5% slab,
milk does not attract any tax under the new GST regime. The idea behind this
is to ensure that basic food items are available for everyone but instant food is
kept out of this category.

• Basic household items like toothpaste and hair oil, which currently
attract 28% tax, will be taxed at 18% only.
• Sweets will also be taxable at 5%.
• Tax rates on coal has also been reduced from 11.69% to just 5% in
order to relieve the pressure on power industries.
• GST also gives a major push to domestic industries as they will be able
to procure seamless input credit for capital goods. Make in India
campaign is set to flourish after this reform.

GST Rates Impact on Economy:

As GST has transformed the economy at its peak. It’s a game-changing reform
for the Indian economy as it brings about net appropriate price for the goods
and services considered under single taxation system. Mentioned below are
some of the important GST rates impacts in the Indian economy :

1. Increase in Competition: After the GST has been imposed, there has
been seen a fall in prices of goods and services which ultimately has
brought the final consumer to have less tax burden on the goods and
services. There is seen a great scope of increased production, thus,
increase in competition.
2. Simple Tax Structure: GST has simplified the calculation of tax with
the adoption of single taxation system. Under this, multiple taxation
has been aborted which ultimately saves time and money.
3. Uniform Tax Regime: Previously, there used to be multiple tax at
every stage of supply chain, where the taxpayer got confused. But now,
with GST, it is easier for the taxpayer to pay uniform tax.
4. Increase in Exports: There has been seen a fall in the cost of
production after the GST got imposed. This in return has brought
competitiveness towards the international market resulting in rise in
exports.

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GST Exemption for Start-ups and Small Businesses:

Currently, VAT registration and VAT payment is mandatory once a business

crosses an annual turnover of Rs.5 lakhs in some States and Rs.10 lakhs in a
few other States. The multiple VAT legislation enacted by each State creates
confusion and complexities. Once GST is implemented, businesses with a
turnover of less than Rs.10 lakhs per annum would not have to register for
GST nor collect GST. Further, businesses with an annual sales turnover of
Rs.10 lakhs to Rs.50 lakhs may have to pay GST only at a lower rate.
Therefore, once GST is rolled out, thousands of start-ups and small businesses
currently having an annual sales turnover of Rs.5 lakh – Rs.10 lakh would be
out of the tax net providing relief to them from collection and filing of GST
returns.

[12]
1.3 Objectives of the project:
• To study the types of goods and services taxable under GST.
• To study the impact of GST in India.
• Views regarding GST.

Types of goods and services under GST.

Impact of GST in India.

Opinions regarding GST.

[13]
1.4 Scope of the project:
• Creating awareness of GST.
• Study about the taxable goods and services under GST.

1.5 Purpose and Significance of the Project:

• To get a clarity of GST over VAT.

• To get a view on the prices of goods and services after implementing
GST.
• To get a proper view of spending of income on taxable goods under
GST.

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2. REVIEW OF RELATED LITERATURE

[15]
Review of related Literature:

GST in India by CA Pritam Mahure:

GST on Supply:
1. GST payable on supply:
In GST regime, all ‘supply’ such as sale, transfer, barter, lease, import
of services, etc. of goods and/ or services made or agreed to be made
for a consideration will attract CGST (to be levied by Centre) and GST
(to be levied by State). As GST will be applicable on ‘supply’ the
erstwhile taxable events such as ‘manufacture’, ‘sale’, ‘provision of
services’ etc. will lose their relevance.
Further, certain supplies (specified in Schedule I), even if made
without consideration, such as permanent transfer of business assets on
which credit is availed, transaction with related or distinct entities,
transactions with agent etc. will attract GST.
In Schedule I of the CGST law, it is provided that gifts not exceeding
INR 50,000/- in value in a financial year by an employer to an
employee shall not be treated as supply of goods or services or both.
This provision could open a Pandora’s Box as free canteen facilities,
travel arrangements for employees, irrespective of any threshold, may
attract GST as they may not qualify as gifts.

2. GST in case of unregistered suppliers:

Typically, the GST liability is to be discharged by the supplier of
goods/ service or both. However, in specific cases, the liability to pay
tax is cast on the recipient of the supply instead of the supplier. This is
known as Reverse Charge Mechanism (RCM).
There are two types of RCM proposed in GST law:
• Section 9 (3) of the CGST Act - RCM is said to be applicable
in respect of specified services (12 services including
transportation of goods by road (GTA), advocate services,
sponsorship, director etc specified by the GST Council)
• Section 9 (4) of the CGST Act – RCM is said to be applicable
in cases of supply by an unregistered supplier to a registered
person, GST shall be paid by the recipient under RCM. This
provision is deferred till 30.09.2019.

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 3. GST payable as per time of supply:
The liability to pay CGST / SGST will arise at the time of supply as
determined for goods and services. In this regard, separate provisions
prescribe what will time of supply for goods and services. The
provisions contemplate payment of GST on supply of goods or
services at the earliest of date of issuance of invoice or prescribed last
day by which invoice is required to be issued or date of receipt
of payment. The CGST Act provides that the ‘time of supply’, to the
extent it relates to an addition in the value of supply, by way of
interest, late fee or penalty for delayed payment, of any consideration,
shall be on the date on which the supplier receives such additional
value.

4. Determining Place of Supply could be the key:

An intra-State supply of goods will attract Central GST and State GST
whereas an inter-State supply will attract IGST. Thus, it would be
crucial to determine whether a transaction is an ‘intra-State’ or ‘inter-
State’ as taxes will be applicable accordingly.
In this regard, the GST law provides separate provisions which will
help an assessee determine the place of supply for goods and services.
Typically for ‘goods’ the place of supply would be location where the
good are delivered. Whereas for ‘services’ the place of supply would
be location of recipient.

Valuation in GST:
GST would be payable on the ‘transaction value’. Transaction value is the
price actually paid or payable for the said supply of goods and/or services
between un-related parties. The transaction value is also said to include all
expenses in relation to sale such as packing, commission etc. Even subsidies
linked to supply, excluding Government subsidies will be includable.
However, discounts/ incentives given before or at the time of supply will be
permissible as deduction from transaction value. As regards discounts given
after supply is made, the same will be permissible as deduction subject to
fulfilment of prescribed conditions. Rule 27 to 35 of CGST Rules deal with
valuation.

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Input Tax Credit:
Section 16 and 17 of CGST Act and Rule 36 to 45 of CGST Rules deal with
Input Tax Credit. It was expected that in GST regime, seamless credit will be
allowed to business houses without any denial or any restrictions except say
goods / services which are availed for personal use than official use
(something similar to Unite Kingdom VAT law).

Further, credit is denied on goods and/or services used for personal

consumption. Also, input tax credit shall not be available on goods lost, stolen,
destroyed, written off or disposed of by way of gift or free samples. This
continuation of denial will lead to substantial tax cascading (as rate of GST
will be higher than the current rate of service tax). Further, at present, input
tax credit is not available in respect of food and beverages, health services,
travel benefits to employees etc. Now, in cases where it is obligatory under
any law for an employer to provide these facilities to its employees, GST Act
is amended (from 29th August 2018) to provide that the input tax credit in
such cases shall be available. This is a welcome provision and will bring
relief.

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3.METHODOLOGY

[19]
 3.1 Research objectives and Design:
Research can be defined as systematized effort to gain knowledge. There
are different types of research method which has their own advantages
and disadvantages. Research methodology is a method of finding Solution
for any problem with certain logic.

3.2 Quantitative Research:

The research is done on the basis of a survey conducted of respondents,
to whom a questionnaire was given, consisting of nine questions, to get
an overview of the impact of GST in their daily life.

3.3 Primary and Secondary Data:

There are two types of data used in the research process:

• Primary Data: Primary data are collected from the questionnaires

prepared with the help of google forms to analyse the impact of GST in
India.

• Secondary Data: Secondary Data are collected was collected through

discussion with the employees of H&R Block, data was also collected
from newspapers, journals and internet.

Data was collected from internet through www.hrblock.in and

www.cleartax.in

The newspapers included the Economic Times, Times of India and some
of the data was collected from the journal Taxmann.

Research objective:
• To study the impact of GST in India.
• To analyse the consumption rate after implementation of GST in
India.

[20]
 • To analyse the changes in prices of goods and services after
implementation of GST.

Research Duration:
This Survey is conducted for around 4 months starting from 1st August,
2018 to 30th November, 2018.

3.4 Sources of Data Collection:

Primary data was collected through a survey conducted for 50
respondents with the help of google forms.
Secondary data was collected from internet through www.hrblock.in,
www.cleartax.in. Secondary data was also collected from the journal
Taxmann and from “The Economic Times” and “The Times of India”.

[21]
4.DATA ANALYSIS

[22]
Data Analysis:
This study is based on 50 respondents, to whom a questionnaire
consisting of 9 questions were given with the help of google forms. The
respondents include from various groups ranging from students to
salaried persons with age group ranging from 18 years to 40 years. The
data analysis is done to analyse the impact of taxable goods and services
under GST.

QUESTION 1 AND CHART 1

Interpretation:
According to the survey conducted of 50 respondents, 68% of them said
that prices have increased after implantation of GST in India. This
means that they are spending more on goods and services after GST
came into play.

For example, in the VAT regime if a person was spending Rs 400 per
day, now after GST has been implemented, he is spending Rs 450 per
day.

[23]
 QUESTION 2 AND CHART 2

Interpretation:
According to the survey conducted, maximum of the respondents that is
86% said that all the businesses must be registered under GST, while
some said that all the businesses must not be registered under GST
because sometimes it becomes the burden for those businessmen whose
annual turnover is much less.
Currently, VAT registration and VAT payment is mandatory once a
business crosses an annual turnover of Rs.5 lakhs in some States and
Rs.10 lakhs in a few other States. The multiple VAT legislation enacted
by each State creates confusion and complexities. Once GST is
implemented, businesses with a turnover of less than Rs.10 lakhs per
annum would not have to register for GST nor collect GST. Further,
businesses with an annual sales turnover of Rs.10 lakhs to Rs.50 lakhs
may have to pay GST only at a lower rate. Therefore, once GST is rolled
out, thousands of start-ups and small businesses currently having an
annual sales turnover of Rs.5 lakh – Rs.10 lakh would be out of the tax
net providing relief to them from collection and filing of GST returns.

[24]
 QUESTION 3 AND CHART 3

Interpretation:
According to the survey conducted, the third question in the
questionnaire was about the source of awareness of GST in India.74%
said that they came to know about GST from Mass/Media, 18% heard it
from online source and 8% heard it from friend/family.

[25]
 QUESTION 4 AND CHART 4

Interpretation:
According to the survey, maximum number of individuals that is 59.20% pays
GST below 250 times in a month. 18.4% of the individuals pays GST between
150-200 times in a year, 10.20% of the individuals pays GST 200-250 times in
a month and 12.20% of the individuals pays GST 250-300 times in a month.

From the above chart, it can be interpreted that after GST has been
implemented, individuals have started paying less taxes.

[26]
 QUESTION 5 AND CHART 5

Interpretation:
In the survey a question for comparison between Goods and Service Tax
(GST) and Value Added Tax (VAT) was given to the respondents. Most of
them have chosen GST as the better one than VAT that is 90% and the rest
that is 10% have chosen VAT as the better one.
By implementing GST on goods and services, the Indian government is
looking at improving the economy by eliminating the cascading system of tax
and streamlining the business process in India.
The disadvantages of VAT are:

• Cascading effect of taxes.

• It was not possible to claim Input Tax Credit (ITC) on service under
VAT.
• Different VAT rates in different states.
• Different VAT laws in every state.

[27]
 QUESTION 6 AND CHART 6

Interpretation:
According to the survey, most of the individuals that is 62.5% agreed that their
spending of their income has increased after the implementation of GST in
India while the rest of them that is 37.5% of the respondents have agreed that
their spending of income has remained the same or decreased after
implementation of GST.

For example, services like telecom services had become more expensive, but
the overall impact on the household budget is unlikely to be very substantial.
That is, of course, assuming that the monthly budget does not allocate too
much spending on high-end products each month. Within the household
budget, there are likely to be some obvious gainers and some obvious losers.
Investment, insurance costs went up after implementation of GST. The
household budget is not just about expenses but also for savings too. After
GST came into play, prices of savings instrument also became costlier.

[28]
 QUESTION 7 AND CHART 7

Interpretation:

The seventh question in the questionnaire was about the affected consumer
behaviour after implementation of GST in India. 57.1% of the respondents
said that they have started consuming less and 42.9% of them said they have
started consuming more after implementation of GST.

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 QUESTION 8 AND CHART 8

Interpretation:

According to the survey 38.8% of the respondents said that their expenses is
more on Luxury Goods, while 32.7% said their expenses are more on
Entertainment and 28.6% said their expenses are more on Necessary Goods.
Here, luxury goods include tea, coffee, foods, watches, jewellery, clothes, etc.
Entertainment includes movie theatres, amusement parks, etc.
Necessary Goods includes goods needed for daily purpose.

[30]
 QUESTION 9 AND CHART 9

Interpretation:
The last question in the questionnaire was for support of GST in India.
Maximum individuals agreed for the support of GST that is 92% and the rest
that is 8% agreed for not supporting GST in India.
The support of GST in India is much high because of the following advantages
of it:

• Removal of bundled indirect taxes such as VAT, CST, Service tax,

CAD, SAD, and Excise.
• Less tax compliance and a simplified tax policy compared to current
tax structure.
• Removal of cascading effect of taxes i.e. removes tax on tax.
• Reduction of manufacturing costs due to lower burden of taxes on the
manufacturing sector. Hence prices of consumer goods will be likely to
come down.
• Lower the burden on the common man i.e. public will have to shed less
money to buy the same products that were costly earlier.
• Increased demand and consumption of goods.
• Increased demand will lead to increase supply. Hence, this will
ultimately lead to rise in the production of goods.

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5.LIMITATIONS OF THE PROJECT

[32]
LIMITATIONS:
• This study is limited to 50 individuals only.

• GST is a newly launched tax system, so there are some

complications which are faced by the peoples.

• The study does not depict the entire GST system

• GST is a burden for the small and medium enterprises.

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6.FINDINGS

[34]
FINDINGS:
After Analysis and Interpretation of the data these are followings findings
were emerged:
• Most of the respondents are Male.

• The most of respondent’s perception are very positive towards the GST
and they are aware of GST through the mass media.

• 86% respondents are in the opinion that all businesses must be

registered under GST.

• 90% of the respondents agreed that GST is better than VAT.

• 62.5% of the respondent’s expenditure has increased on taxable goods

and services after the implementation of GST.

• 57.1% of the respondents consumes goods more after GST came into
play

• Out of 50 respondents, 46 respondents are in the support of GST.

[35]
7.CONCLUSION

[36]
CONCLUSION:
This project helped me to get deeply understanding the “Impact of GST
on taxable goods and services in India.”
The main focus of this study was to assess how the prices of goods and
services have been affected after GST regime started in India.
The survey which was done to get the actual views of the people in India
towards GST.
After the survey and this project, I can conclude that expenditure of the
people has increased over a period of time due to GST.
The increased expenditure didn’t affect the consuming behaviour of the
people, but they started consuming more according to the survey
conducted.

[37]
8.SUGGESTIONS

[38]
SUGGESTIONS:
• The customers suggested that there should be a smooth, transparent
and simple transition provisions which is easily understandable.

• Special focus on awareness and training of all officers, professionals

and assesses should be given on GST.

• Since the public are very clear about GST, any disputes on GST
introduction should be protectively addressed by way of speedy
redress.

• The people are not well informed on the implementation of the GST.
Therefore, in order to ensure efficient implementation of the GST, the
government should come out with a proper guideline to the society on
the procedures for the implementations of GST.

• Gradual stages may be employed for the implementation like the

agricultural sector, then industrial and then the service sector.

• The relevant authorities especially the customers department must

work closely with other departments like information, Inland Revenue
and other enforcement authority ensure good implementation.

• Lastly, the government must ensure a good management of the

income collected from the GST.

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9. LEARNING OF THE PROJECT

[40]
After analysis and interpretation these were the learning of the project:

8.1 Long Term Learning:

• GST is a boon for the economy.

• Start-ups get an exemption from GST

• Concept of ITC.

8.2 Short Term Learning:

• GST Tax Rates

• Types of goods & services taxable under GST.

• Current Views regarding GST.

[41]
10.EXHIBITS

[42]
QUESTIONNAIRE:

A survey on implementation of GST in India

*Required

1.Email address *

2. Name:

3. Do you think after implementing GST, prices of goods

& services have risen?

Mark only one oval.

Yes
No

4. Do you think all businesses need to be registered under

GST?
Mark only one oval.
Yes
No

[43]
5. How do you get to know about GST? From: *
Mark only one oval.
Friend/Family
Mass/Media
Online Source
Other:

6. How many times you pay GST in a month?

Mark only one oval.
250-300
200-250
150-200
Below 150

7. Which one is better according to you?

Mark only one oval.
Goods & Service Tax(GST)
Value Added Tax(VAT)

[44]
8. Has your spending of income increased after
implementation of GST?
Mark only one oval.
Yes
No

9. How GST affected your consumption behavior?

Mark only one oval.
Consuming goods less
Consuming goods more

10. Which kinds of expenditure are affected most by GST?

Mark only one oval.
Necessary Goods
Luxury goods
Entertainment
Other:

11. Do you support GST?

Mark only one oval.
Yes
No

[45]
APPENDICES:

GST- Goods & Service Tax

VAT- Value Added Tax
ITC- Input Tax Credit

[46]