A PROJECT REPORT

ON

A Study of GOODS AND SERVICES TAX with reference to Deva and Co Company.
SUBMITTED BY

GOPU HARSHINI

HT NO:130723672068

UNDER THE GUIDANCE OF

MRS P.SHILPA
Assistant Professor

SUBMITTED IN PARTIAL FULFILMENT FOR THE AWARD OF DEGREE

IN
MASTER OF BUSINESS ADMINISTRATION

BY
DEPARTMENT OF BUSINESS MANAGEMENT
BHARAT PG COLLEGE FOR WOMEN
(Affiliated to Osmania University)
KACHIGUDA, HYDERABAD
2023-2025
 DECLARATION

I am GOPU HARSHINI student of MBA at BHARAT PG COLLGE FOR WOMEN hereby

declare that this project titled “A Study on Goods and Services Tax with reference to Deva&Co
Company” submitted by me to the Department of Business Management, OU, Hyderabad, is a
Bonafide work undertaken by me and it is not submitted to any other University or Institution for
the award of any other degree diploma/ Certificate or published any time before.

Place: Hyderabad NAME:GOPU HARSHINI

Date: HT.NO: 130723672068
BHARAT BHARAT P.G.COLLEGE FOR WOMEN
Approved by AICTE & Affiliated to Osmania University
(Sponsored by: ChinthaReddy Madhusudhan Reddy Educational Society)
Opp Tourist Hotel, Beside Tulja Bhavan, Kachiguda, Hyderabad-500 027
Phone 040-27560123, +91 9666669344, E-mail:bharatmbacollege@gmail.com

________________________________________________________________________________

CERTIFICATE

This is to certify that project report titled “A Study on Goods and Services Tax with reference to
Deva&Co Company” submitted in partial fulfilment for award of MBA program of Department of
Business Management OU Hyderabad is bonafide project work done by GOPU HARSHINI,
H .T.NO: 130723672068 under my guidance Mrs.P. SHILPA Assistant professor. This has not been
submitted to any other university or institution for the award of any degree/ diploma / certificate.

Signature of the Guide Signature of the Director

Signature of the External

COMPANY CERTIFICATE
 ACKNOWLEDGEMENT

I GOPU.HARSHINI take this opportunity to extend my profound thanks and deep sense of
gratitude to the authorities of SANJAY KUMAR KOTHARI for giving me this opportunity to
undertake this project work in their esteemed organization. I profusely thank MBA Department.

My sincere thanks to the Management of Bharat P.G. College for Women, Director, Head of the
Department and my project guide MRS P. SHILPA Assistant professor for the kind
encouragement and constant support extended in completion of this project work from the bottom
of my heart.
I am also thankful to all those who have incidentally helped me, through their valued guidance co -
operation and unstinted support during the course of my project.

NAME:GOPUHARSHINI
HT.NO:130723672068
 ABSTRACT

Goods and Services Tax is an indirect tax which is imposed in India to enhance and support the economic
growth of the country. Most of the Developed countries have implemented Goods and Services Tax Bill
(GST). However, in India, GST was established in 1999. A committee was set up to design the model of
GST. But GST was re-launched on 1 July 2017 by the Indian government. There was a big hue and cry for
its implementation. The GST replaced all the multiple taxes which were taken by state and central
government. That is why it is said “One Nation One Tax‟ which means there is no need to pay any other tax
in all over the country. The study systematically reviews the impact of GST in India. The study provides the
bibliometric visualization and sentiment analysis of GST. It was found that the government’s motive of
GST was to bring all the people of the country under the tax and to prevent the flow of black money. But it
was observed that lots of Indian citizens‟ sentiments were in a dilemma. So, it is recommended to revisit
the structure and keep a scope of continuous improvement.
 INDEX

S.no Content Page No.

1 List of Tables i

2 List of Graphs iii

3 Chapter – 1 : Introduction 1-21
Introduction to Goods and Service Tax 20

Need of Study 20

Scope of Study 20

Objective of the Study 20

Research Methodology 20

Source of Data 20

Limitations of the Study 21

4 Chapter – 2 : Review of Literature 22-26

5 Chapter – 3 : Company Profile 27-29

6 Chapter – 4 : Data Analysis & Interpretation 30-69

7 Chapter – 5 : Findings, Conclusion & Suggestions 70-73

Findings 70-71
Conclusion 72
Suggestions 73
8 Bibliography
 LIST OF TABLES

Table No Table Name Page No

4.1 State Wise Collection 30
4.2 GST Collection of Jammu and Kashmir 32
4.3 GST Collection of Himachal Pradesh 33
4.4 GST Collection of Punjab 34
4.5 GST Collection of Chandigarh 35
4.6 GST Collection of Uttarakhand 36
4.7 GST Collection of Haryana 37
4.8 GST Collection of Delhi 38
4.9 GST Collection of Rajasthan 39
4.10 GST Collection of Uttar Pradesh 40
4.11 GST Collection of Bihar 41
4.12 GST Collection of Sikkim 42
4.13 GST Collection of Arunachal Pradesh 43
4.14 GST Collection of Nagaland 44
4.15 GST Collection of Manipur 45
4.16 GST Collection of Mizoram 46
4.17 GST Collection of Tripura 47
4.18 GST Collection of Meghalaya 48
4.19 GST Collection of Assam 49
4.20 GST Collection of West Bengal 50
4.21 GST Collection of Jharkhand 51
4.22 GST Collection of Odisha 52
4.23 GST Collection of Chhattisgarh 53
4.24 GST Collection of Madhya Pradesh 54
4.25 GST Collection of Gujarat 55
4.26 GST Collection of Daman & Diu 56
4.27 GST Collection of Dadra and Nagar Haveli 57
4.28 GST Collection of Maharashtra 58
4.29 GST Collection of Karnataka 59
4.30 GST Collection of Goa 60
4.31 GST Collection of Lakshadweep 61
4.32 GST Collection of Kerala 62
4.33 GST Collection of Tamil Nadu 63
4.34 GST Collection of Pondicherry 64
4.35 GST Collection of Andaman and Nicobar 65
4.36 GST Collection of Telangana 66
4.37 GST Collection of Andhra Pradesh 67
4.38 GST Collection of Ladakh 68
4.39 GST Collection of other Territory 69
 LIST OF GRAPHS

Graph No Graph Name Page No

4.1 GST Collection of Jammu and Kashmir 32
4.2 GST Collection of Himachal Pradesh 33
4.3 GST Collection of Punjab 34
4.4 GST Collection of Chandigarh 35
4.5 GST Collection of Uttarakhand 36
4.6 GST Collection of Haryana 37
4.7 GST Collection of Delhi 38
4.8 GST Collection of Rajasthan 39
4.9 GST Collection of Uttar Pradesh 40
4.10 GST Collection of Bihar 41
4.11 GST Collection of Sikkim 42
4.12 GST Collection of Arunachal Pradesh 43
4.13 GST Collection of Nagaland 44
4.14 GST Collection of Manipur 45
4.15 GST Collection of Mizoram 46
4.16 GST Collection of Tripura 47
4.17 GST Collection of Meghalaya 48
4.18 GST Collection of Assam 49
4.19 GST Collection of West Bengal 50
4.20 GST Collection of Jharkhand 51
4.21 GST Collection of Odisha 52
4.22 GST Collection of Chhattisgarh 53
4.23 GST Collection of Madhya Pradesh 54
4.24 GST Collection of Gujarat 55
4.25 GST Collection of Daman & Diu 56
4.26 GST Collection of Dadra and Nagar Haveli 57
4.27 GST Collection of Maharashtra 58
4.28 GST Collection of Karnataka 59
4.29 GST Collection of Goa 60
4.30 GST Collection of Lakshadweep 61
4.31 GST Collection of Kerala 62
4.32 GST Collection of Tamil Nadu 63
4.33 GST Collection of Pondicherry 64
4.34 GST Collection of Andaman and Nicobar 65
4.35 GST Collection of Telangana 66
4.36 GST Collection of Andhra Pradesh 67
4.37 GST Collection of Ladakh 68
4.38 GST Collection of other Territory 69
 CHAPTER-1
INTRODUCTION
 INTRODUCTION

Goods and Services Tax (GST) is an indirect tax (or consumption tax) used in India on the
supply of goods and services. It is a comprehensive, multistage, destination-based tax:
comprehensive because it has subsumed almost all the indirect taxes except a few state taxes.
Multi-staged as it is, the GST is imposed at every step in the production process, but is meant to
be refunded to all parties in the various stages of production other than the final consumer and
as a destination-based tax, it is collected from point of consumption and not point of origin like
previous taxes.

Goods and services are divided into five different tax slabs for collection of tax: 0%, 5%, 12%,
18% and 28%. However, petroleum products, alcoholic drinks, and electricity are not taxed
under GST and instead are taxed separately by the individual state governments, as per the
previous tax system. There is a special rate of 0.25% on rough precious and semi-precious
stones and 3% on gold. In addition, access of 22% or other rates on top of 28% GST applies on
few items like aerated drinks, luxury cars and tobacco products. Pre-GST, the statutory tax rate
for most goods was about 26.5%, post-GST, most goods are expected to be in the 18% tax
range.

It is an indirect tax which has replaced many indirect taxes in India such as the excise duty,
VAT, services tax, etc. The Goods and Service Tax Act was passed in the Parliament on 29th
March 2017 and came into effect on 1st July 2017.

In other words, Goods and Service Tax (GST) is levied on the supply of goods and services.
Goods and Services Tax Law in India is a comprehensive, multi-stage, destination-based tax
that is levied on every value addition. GST is a single domestic indirect tax law for the entire
country.

Now, let us understand the definition of Goods and Service Tax, as mentioned above in detail.

Multi-stage
An item goes through multiple change-of-hands along its supply chain: Starting from

11
manufacture until the final sale to the consumer.

12
Let us consider the following stages:
 Purchase of raw materials
 Production or manufacture
 Warehousing of finished goods
 Selling to wholesalers
 Sale of the product to the retailers
 Selling to the end consumers

History Of GST
On July 1st 2017, the Goods and Services Tax implemented in India. But, the process of
implementing the new tax regime commenced a long time ago. In 2000, Atal Bihari Vajpayee,
then Prime Minister of India, set up a committee to draft the GST law. In 2004, a task force
concluded that the new tax structure should put in place to enhance the tax regime at the time

In 2006, Finance Minister proposed the introduction of GST from 1st April 2010 and in 2011
the Constitution Amendment Bill passed to enable the introduction of the GST law. In 2012, the
Standing Committee started discussions about GST, and tabled its report on GST a year later. In
2014, the new Finance Minister at the time, Arun Jaitley, reintroduced the GST bill in
Parliament and passed the bill in Lok Sabha in 2015. Yet, the implementation of the law
delayed as it was not passed in Rajya Sabha.

GST went live in 2016, and the amended model GST law passed in both the house. The
President of India also gave assent. In 2017 the passing of 4 supplementary GST Bills in Lok
Sabha as well as the approval of the same by the Cabinet. Rajya Sabha then passed 4
supplementary GST Bills and the new tax regime implemented on 1st July 2017.

Evolution of GST in India

The idea of a Goods and Services Tax (GST) for India was first mooted sixteen years back,
during the Prime Minister ship of Shri Atal Bihari Vajpayee. Thereafter, on 28th February,
2006, the then Union Finance Minister in his Budget for 2006-07 proposed that GST would be
introduced from 1st April, 2010. The Empowered Committee of State Finance Ministers (EC),
which had formulated the design of State VAT was requested to come up with a roadmap and
structure for the GST. Joint Working Groups of officials having representatives of the States
as well as the
13
Centre were set up to examine various aspects of the GST and draw up reports specifically on
exemptions and thresholds, taxation of services and taxation of inter-State supplies. Based on
discussions within and between it and the Central Government, the EC released its First
Discussion Paper (FDP) on GST in November, 2009. The FDP spelled out the features of the
proposed GST and has formed the basis for the present GST laws and rules.

In March 2011, Constitution (115th Amendment) Bill, 2011 was introduced in the Lok Sabha to
enable levy of GST. However, due to lack of political consensus, the Bill lapsed after the
dissolution of 15th Lok Sabha in August 2013.

On 19th December, 2014, The Constitution (122nd Amendment) Bill 2014 was introduced in
the Lok Sabha and was passed by Lok Sabha in May 2015. The Bill was taken up in Rajya
Sabha and was referred to the Joint Committee of the Rajya Sabha and the Lok Sabha on 14th
May, 2015. The Select Committee submitted its report on 22nd July, 2015. Thereafter, the
Constitutional Amendment Bill was moved on 1st August 2016 based on political consensus
The Bill was passed by the Rajya Sabha on 3rd August 2016 and by the Lok Sabha on 8th
August 2016. After ratification by required number of State legislatures and assent of the
President, the Constitutional amendment was notified as Constitution (101st Amendment) Act
2016 on 8th September, 2016. The Constitutional amendment paved way for introduction of
Goods and Services Tax in India

After GST Council approved the Central Goods and Services Tax Bill 2017 (The CGST Bill).
the Integrated Goods and Services Tax Bill 2017 (The IGST Bill), the Union Territory Goods
and Services Tax Bill 2017 (The UTGST Bill), the Goods and Services Tax (Compensation to
the States) Bill 2017 (The Compensation Bill), these Bills were passed by the Lok Sabha on
29th March, 2017. The Rajya Sabha passed these Bills on 6th April, 2017 and were then
enacted as Acts on 12th April, 2017. T 2015. 6 on 08.09.2016

Thereafter, State Legislatures of different States have passed respective State Goods and
Services Tax Bills. After the enactment of various GST laws, GST was launched with effect
from 1st July 2017 by Sh. Narendra Modi, Hon'ble Prime Minister of India in the presence of
Sh. Pranab Mukherjee, the then President of India in a mid-night function at the Central Hall of
Parliament of India

14
Genesis
The idea of moving towards GST was first mooted by the then Union Finance Minister in his
Budget speech for 2006-07. Initially, it was proposed that GST would be introduced from Ist
April 2010. The Empowered Committee of State Finance Ministers (EC) which had formulated
the design of State VAT was requested to come up with a roadmap and structure for GST. Joint
Working Groups of officials having representatives of the States as well as the Centre were set
up to examine various aspects of GST and draw up reports specifically on exemptions and
thresholds, taxation of services and taxation of inter-State supplies. Based on discussions within
and between it and the Central Government, the EC released its First Discussion Paper (FDP)
on the GST in November, 2009. This spelt out features of the proposed GST and has formed the
basis for discussion between the Centre and the States so far.

The introduction of the Goods and Services Tax (GST) is a very significant step in the field of
indirect tax reforms in India. By amalgamating many Central and State taxes into a single tax,
GST will mitigate ill effects of cascading or double taxation in a major way and pave the way
for a common national market. From the consumers point of view, the biggest advantage would
be in terms of reduction in the overall tax burden on goods, which is currently estimated to be
around 25%-30% It would also imply that the actual burden of indirect taxes on goods and
services would be much more transparent to the consumer. Introduction of GST would also
make Indian products competitive in the domestic and international markets owing to the full
neutralization of input taxes across the value chain of production and distribution. Studies show
that this would have a boosting impact on economic growth. Last but not the least, this tax,
because of its transparent and self-policing character, would be easier to administer. It would
also encourage a shift from the informal to formal economy. The government proposes to
introduce GST with effect from 1st July 2017.

GST and Centre-State Financial Relations

Currently, fiscal powers between the Centre and the States are clearly demarcated in the
Constitution with almost no overlap between the respective domains. The Centre has the powers
to levy tax on the manufacture of goods (except alcoholic liquor for human consumption,
opium, narcotics etc.) while the States have the powers to levy tax on sale of goods. In case of
inter-states sales, the Centre has the powers to levy a tax (the Central Sales Tax) but, the tax is
collected and retained entirely by the originating States As for services, it as the Centre alone
that is empowered to levy Service Tax. Since the States are not empowered to levy any tax on
15
the sale or purchase

16
of goods during their importation into or exportations from India, the Centre levies and collects
this tax in addition to the Basic Customs Duty. This additional duty of customs (commonly
known as CVD and SAD) counterbalance excise duty. sales tax, State VAT and other taxes
levied on the like domestic product. Introduction of GST required amendments in the
Constitution to empower the Centre and the States concurrently to levy and collect GST

The assignment of concurrent jurisdiction to the Centre and the States for the levy of GST
required a unique institutional mechanism that would ensure that decisions about the structure,
design and operation of GST are taken jointly by the two. To address all these and other issues,
the Constitution (122nd Amendment) Bill was introduced in the 16th Lok Sabha on 19.12 2014.
The Bill provides for a levy of GST on supply of all goods or services except alcohol for human
consumption. The tax shall be levied as Dual GST separately, but concurrently the Union
(CGST) and the States (SGST). The Parliament would have exclusive power to levy GST
(IGST) on interstate trade or commerce (including imports) in goods and services. The Central
Government will have the power to levy excise duty in addition to GST, on tobacco and
tobacco products.

The constitution Amendment Bill was passed by the Lok Sabha in May, 2015. The Bill with
certain amendments was finally passed in the Rajya Sabha and thereafter by the Lok Sabha in
August, 2016. Further, the Bill has been ratified by the required number of States and has since
received the assent of the President on 8th September, 2016 and has been enacted as the 101st
Constitution Amendment Act, 2016. The GST Council has also been notified wef. 12th
September, 2016. GST Council is being assisted by a Secretariat.

The Goods and Service Tax Council (hereinafter referred to as, "GSTC") comprises of the
Union Finance Minister, the Minister of State (Revenue) and the State Finance Ministers to
recommend on the GST rate, exemption and thresholds, taxes to be subsumed and other
matters. One-half of the total number of members of GSTC form quorum in meetings of GSTC.
Decision in GSTC is taken by a majority of not less than three-fourth of weighted votes cast.
Centre has one-third weightage of the total votes cast and all the states taken together have two-
third of weightage of the total votes cast.

All decisions taken by the GST Council has been arrived at through consensus. The option of
exercising a vote has not been resorted to till date.
17
To ensure smooth roll-out of the GST, various Committees and Sectoral groups has been
formed comprising of members from both Centre and States.

GST In Indian Economy

GST stands for Goods and Services tax. Before the execution of GST, there were numerous
indirect taxes which the organizations and businesses needed to pay. After the implementation
of GST which is one of the greatest and huge financial change. Fundamentally, the point is to
give a rearranged and a tax structure which is imposed on the financial exercises and will help
in expanding the productivity of the organizations.

Types of GST in India

GST subsumes erstwhile state taxes like VAT, octroi, luxury tax, purchase tax, and central taxes
like customs duty, central excise duty and service tax. Now, under the one-nation, one- tax
regime, a simple 3-fold breakup has been formulated, allowing the center and states to levy
taxes. Currently, the types of GST in India are CGST, SGST, and IGST. This simple division
helps distinguish between inter-state and intra-state supplies and mitigates indirect taxes. To
learn more, read about these three different types of GST.

State Goods and Service Tax (SGST)

SGST is the tax that the state government levies on intra-state goods and service transactions
SGST subsumes earlier taxes such as VAT, entertainment tax, luxury tax, octroi, tax on lottery,
and purchase tax. UGST or Union Territory Goods and Service Tax replaces SGST in union
territories like Andaman and Nicobar Islands or Chandigarh.

Central Goods and Service Tax (CGST)

The central government levies GST on intra-state goods and service transactions. The central
government collects the revenue generated through Central Goods and Service Tax (CGST). It
is levied along with SGST or UGST, and revenues are shared between the state and the center.
For example, if you are a Bengaluru-based dealer and are selling to another dealer in Bengaluru
since it's an intra-state sale, both CGST and SGST will be applicable on this transaction. If your
transaction of goods is worth Rs. 30,000, and it attracts 18% GST, then 9%, which is Rs. 2,700
of the tax amounts, is collected as SGST by the state government, and a matching amount is
collected as CGST by the center.
18
Salient features of GST
The salient features of GST are as under:

 GST is applicable on 'supply' of goods or services as against the present concept on the
manufacture of goods or on sale of goods or on provision of services.
 GST is based on the principle of destination-based consumption taxation as against the
present principle of origin-based taxation.
 It is a dual GST with the Centre and the States simultaneously levying tax on a common
base. GST to be levied by the Centre would be called Central GST(CGST) and that to be
levied by the States would be called State GST (SGST).
 An Integrated GST (IGST) would be levied an inter-state supply (including stock
transfers) of goods or services. This shall be levied and collected by the Government of
India and such tax shall be apportioned between the Union and the States in the manner
as may be provided by Parliament by Law on the recommendation of the GST Council.
 Import of goods or services would be treated as inter-state supplies and would be
subject to IGST in addition to the applicable customs duties.
 CGST, SGST & IGST would be levied at rates to be mutually agreed upon by the
Centre and the States. The rates would be notified on the recommendation of the GST
Council In a recent meeting, the GST Council has decided that GST would be levied at
four rates viz. 5%, 12%, 16% and 28% The schedule or list of items that would fall
under each of these slabs has been worked out. In addition to these rates, access would
be imposed on "demerit" goods to raise resources for providing compensation to States
as States may lose revenue owing to the implementation of GST.
 GST would replace the following taxes currently levied and collected by the Centre: -
 Central Excise Duty
 Duties of Excise (Medicinal and Toilet Preparations
 Additional Duties of Excise (Goods of Special Importance
 Additional Duties of Excise (Textiles and Textile Products)
 Additional Duties of Customs (commonly known as CVD) Special Additional Duty of
Customs (SAD)
 Service Tax
 Cesses and surcharge in so far as they relate to supply of goods and services.

19
 State taxes that would be subsumed within the GST are: -
 State VAT
 Central Sates Tax
 Purchase Tax
 Luxury Tax
 Entry Tax (All forms)
 Entertainment Tax and Amusement Tax (except those levied by the local bodies)
 Taxes on advertisements
 Taxes on lotteries, betting, and gambling
 state cesses and surcharges in so far as they relate to supply of goods and services.

 GST would apply on all goods and services except Alcohol for human consumption.
 GST on five specified petroleum products (Crude, Petrol, Diesel, ATF & Natural Gas)
would by applicable from a date to be recommended by the GSTC.
 Tobacco and tobacco products would be subject to GST. In addition, the Centre would
have the power to levy Central Excise duty on these products.
 A common threshold exemption would apply to both CGST and SGST. Tax payers with
an annual turnover not exceeding Rs 20 lakh (Rs 10 Lakh for special category States)
would be exempt from GST. For small taxpayers with an aggregate turnover in a
financial year up to 50 lakhs, a composition scheme is available. Under the scheme a
taxpayer shall pay tax as a percentage of his turnover in a State during the year without
benefit of Input Tax Credit. This scheme will be optional.
 The list of exempted goods and services would be kept to a minimum and it would be
harmonized for the Centre and the States as well as across States as far as possible.
 Exports would be zero-rated supplies. Thus, goods or services that are exported would
not suffer input taxes or taxes on finished products.
 Credit of CGST paid on inputs may be used only for paying CGST on the output and the
credit of SGST paid on inputs may be used only for paying SGST. Input Tax Credit
(ITC) of CGST cannot be used for payment of SGST and vice versa. In other words, the
two streams of Input Tax Credit (TTC) cannot be cross-utilized, except in specified
circumstances of inter-state supplies for payment of IGST. The credit would be
permitted to be utilized in the following manner. -

20
  ITC of CGST allowed for payment of CGST & IGST in that order,
 ITC of SGST allowed for payment of SGST & IGST in that order;
 ITC of IGST allowed for payment of IGST, CGST & SGST in that order.
 Accounts would be settled periodically between the Centre and the States to ensure that
the credit of SGST used for payment of IGST is transferred by the Exporting State to the
Centre. Similarly, IGST used for payment of SGST would be transferred by the Centre
to the Importing State. Further, the SGST portion of IGST collected on B2C supplies
would also be transferred by the Centre to the destination State. The transfer of funds
would be carried out based on information contained in the returns filed by the
taxpayers

 The laws, regulations and procedures for levy and collection of CGST and SGST would
be harmonized to the extent possible.

The whole GST system will be backed by a robust IT system. In this regard, Goods and Services
Tax Network (GSTN) has been set up by the Government. It will provide front end services and
will also develop back-end IT modules for States who opted for the same.

Objectives Of GST
1. To achieve the ideology of 'One Nation, One Tax'
GST has replaced multiple indirect taxes, which were existing under the previous tax
regime. The advantage of having one single tax means every state follows the same rate
for a particular product or service. Tax administration is easier with the Central
Government deciding the rates and policies. Common laws can be introduced, such as e-
way bills for goods transport and e-invoicing for transaction reporting Tax compliance
is also better as taxpayers are not bogged down with multiple return forms and
deadlines. Overall, it is a unified system of indirect tax compliance

2. To subsume a majority of the indirect taxes in India

India had several erstwhile indirect taxes such as service tax, Value Added Tax (VAT).
Central Excise, etc., which used to be levied at multiple supply chain stages. Some taxes
were governed by the states and some by the Centre. There was no unified and
centralized tax on both goods and services. Hence, GST was introduced. Under GST, all
21
the major indirect taxes were subsumed into one. It has greatly reduced the compliance
burden on

22
 taxpayers and eased tax administration for the government.

3. To eliminate the cascading effect of taxes

One of the primary objectives of GST was to remove the cascading effect of taxes
Previously, due to different indirect tax laws, taxpayers could not set off the tax credits
of one tax against the other. For example, the excise duties paid during manufacture
could not be set off against the VAT payable during the sale. This led to a cascading
effect of taxes. Under GST, the tax levy is only on the net value added at each stage of
the supply chain. This has helped eliminate the cascading effect of taxes and contributed
to the seamless flow of input tax credits across both goods and services.

4. To curb tax evasion

GST laws in India are far more stringent compared to any of the erstwhile indirect tax
laws. Under GST, taxpayers can claim an input tax credit only on invoices uploaded by
their respective suppliers. This way, the chances of claiming input tax credits on fake
invoices are minimal. The introduction of e-invoicing has further reinforced this
objective. Also, due to GST being a nationwide tax and having a centralized
surveillance system, the clampdown on defaulters is quicker and far more efficient
Hence, GST has curbed tax evasion and minimized tax fraud from taking place to a
large extent

5. To increase the taxpayer base

GST has helped in widening the tax base in India. Previously, each of the tax laws had a
different threshold limit for registration based on turnover. As GST is a consolidated tax
levied on both goods and services both, it has increased tax-registered businesses.
Besides, the stricter laws surrounding input tax credits have helped bring certain
unorganized sectors under the tax net. For example, the construction industry in India.

6. Online procedures for ease of doing business

Previously, taxpayers faced a lot of hardships dealing with different tax authorities
under each tax law. Besides, while return filing was online, most of the assessment and
refund procedures took place offline. Now, GST procedures are carried out almost
entirely online. Everything is done with a click of a button, from registration to return
filing to refunds to e-way bill generation. It has contributed to the overall ease of doing

23
business in India and simplified taxpayer compliance to a massive extent. The
government also

24
 plans to introduce a centralized portal soon for all indirect tax compliance such as e-
invoicing, e-way bills and GST return filing
7. An improved logistics and distribution system
A single indirect tax system reduces the need for multiple documentation for the supply
of goods. GST minimizes transportation cycle times, improves supply chain and
turnaround time, and leads to warehouse consolidation, among other benefits. With the
e- way bill system under GST, the removal of interstate checkpoints is most beneficial
to the sectors improving transit and destination efficiency. Ultimately, it helps in cutting
down the high logistics and warehousing costs.

8. To promote competitive pricing and increase consumption

Introducing GST has also led to an increase in consumption and indirect tax revenues.
Due to the cascading effect of taxes under the previous regime, the prices of goods in
India were higher than in global markets. Even between states, the lower VAT rates in
certain states led to an imbalance of purchases in these states. Having uniform GST rates
have contributed to overall competitive pricing across India and on the global front. This
has hence increased consumption and led to higher revenues, which has been another
important objective achieved

GST Council structure

As per Article 279A of the amended Constitution, the GST Council is a joint forum of the
Centre and the States, and consists of the following members: -

Union Finance Minister Chairperson

The Union Minister of State, in-charge of Revenue, Min. Member
of Finance
The Minister In-charge of Finance or Taxation or any other Members
Minister nominated by each State Government

The Council is empowered to make recommendations to the Union and the States on the
following: -

(a) the taxes, cesses and surcharges levied by the Union, the States and the local bodies which

25
 may be subsumed in the goods and service tax.
(b) the goods and services that may be subjected to, or exempted from the goods and
services tax,
(c) model Goods and Services Tax Laws, principles of levy, apportionment of Integrated
Goods and Services Tax and the principles that govern the place of supply.
(d) the threshold limit of turnover below which goods and services may be exempted from
goods and service tax.
(e) the rates including floor rates with bands of goods and services tax;
(f) any special rate or rates for a specified period, to raise additional resources during any
natural calamity or disaster;
(g) special provision with respect to the States of Arunachal Pradesh, Assam, Jammu and
Kashmir, Manipur, Meghalaya, Mizoram, Nagaland, Sikkim, Tripura, Himachal
Pradesh and Uttarakhand; and
(h) the date on which GST shall be levied on petroleum crude, high speed diesel, motor
spirit (petrol), natural gas and aviation turbine fuel.
(i) any other matter relating to the goods and services tax, as the Council may decide

The mechanism of GST Council would ensure harmonization on different aspects of GST between
the Centre and the States as well as amongst the States. It has been provided in the Constitution
(One Hundred and First Amendment) Act, 2016 that the GST Council, in discharge of various
functions, shall be guided by the need for a harmonized structure of GST and for the
development of a harmonized national market for goods and services.

On 12th September, 2016 the Union Cabinet under the Chairmanship of the Hon'ble Prime
Minister approved setting up of GST Council and creation of its Secretariat as follows:
(a) GST Council as per Article 279A of the amended Constitution,
(b) GST Council Secretariat, with its office at New Delhi,
(c) Secretary (Revenue) as the Ex-officio Secretary to the GST Council:
(d) d) Inclusion of the Chairperson, Central Board of Excise and Customs (CBEC), as a
permanent invitee (non-voting) to all proceedings of the GST Council:
(e) One post of Additional Secretary to the GST Council in the GST Council Secretariat (at
the level of Additional Secretary to the Government of India), and four posts of
Commissioners in the GST Council Secretariat .
26
The Cabinet also decided to provide for adequate funds for meeting the recurring and non-
recurring expenses of the GST Council Secretariat, which shall be borne by the Central
Government. The GST Council Secretariat shall be manned by officers taken on deputation
from both the Central and State Governments.

Impact of GST on Various Sectors:

Fast moving consumer goods sector:
The Indian FMCG sector is the fastest growing sector in the economy. FMCG sector is the major
contributor in both direct and indirect taxes in the economy. Implementation of Goods and
services tax will majorly influence Indian economy. The current rate of taxation in FMCG
sector is around 22 to 25% and after GST rate is expected to be much lower which will result in
reduction of prices of consumer goods.

Traders:
The impact of tax on the wholesaler or retailer would be limited to the value addition. The tax paid
at earlier stages (except SGST of other states) would be available as set off for payment of GST
on supplies. Therefore, traders would prefer to buy/ receive supplies with invoice. The tax
payable as a percentage of the supply value would be small whereby the compliance would be
more cost effective than evasion. Cost of products and services would reduce due to the
cascading effect of tax being reduced. Traders in GST regime can concentrate on growth into
large entities instead of remaining small and fragmented,

Manufacturers:
The manufacturing sector in India is not only plagued with concerns ranging from decline in
exports and infrastructure spending but also with the burden of complying with a complex
indirect taxation system. Multiple indirect tax legislations have led to significant compliance
and administrative costs, classification and valuation disputes and generally impaired the ease
of doing business in this sector.

The implementation of GST will significantly improve the competitiveness and performance of
India's manufacturing sector. For most industrial products, GST rates have been slated at 18%.
Today a manufacturer pays about 28-30% as taxes, so this means an average saving of
27
around10%

28
E-commerce
Currently, the federal indirect tax structure with different tax regimes in various states has led to
confusion and uncertainty on the tax treatment of online marketplaces and aggregators. GST
will help remove the ambiguity that currently exists in this sector and insulate such operators
from ad hoc laws and arbitrary levies imposed by state governments. However, it may result in
higher compliance challenges for the e-commerce sector Compliance costs

Under the new regime, every electronic commerce operator would need to collect tax at source
and deposit applicable GST when payments are to be made to the supplier.

In the current regime, e-commerce players are treated only as service providers and are
therefore, required to comply with only one central service tax legislation. Under GST, with the
burden of TCS @ 1%, such electronic commerce operators will also be required to undertake
additional compliances in states where the supplier is located

However, it has been kept at 1%, which is the lowest. Thus, E-commerce consumers are likely
to remain unaffected d once GST sets even as players like Flipkart and Amazon prepare to
deduct 1% of the payment it makes to sellers under the new tax regime. This will not
significantly increase the onus and compliance burden on electronic commerce operators

Stock transfers to be taxed Under the GST Law, specified transactions without consideration
would also be treated as supplies. Intra-state and inter-state stock transfers, between branches or
warehouses of a single ecommerce entity, would be deemed to be supplies, subject to GST.
Though the tax paid would be available as credit to the entity, this may result in cash flow
blockages

Credit can only be claimed on taxes which have been paid to the credit of the government.
However, removal of cascading effect and consolidation of taxes could bring in significant
benefits such as unrestrictive cross utilization of credits of service tax paid on input services
like warehousing, logistics, commission of marketplace

Real Estate
Indian real estate sector is estimated to account for about 5% of India's gross domestic product
and is considered the second-largest employer in the country. Real estate sector is already
29
subject

30
to multiple taxation, the implementation of GST is theoretically expected to help the consumers
and builders.

The GST regime will be a game changer for real estate sector and the 12% GST on construction
projects meant for sale to buyers will boost the sector. Ambit of GST under real estate is likely
to result in more transparency, which will significantly reduce tax evasion through more
efficient transaction-tracking methods and improved enforcement and compliance.

Since GST may be levied on a single value, the current issue of levying tax on tax (VAT on
central excise duty) is likely to be removed.

Transfer of (completed) properties may continue to be outside the purview of GST and be lable
only to applicable stamp duties. However, on procurement of materials for civil construction,
GST will be applicable.

At present, developers pay various non-creditable taxes on supplies like excise duty, customs
duty, CST, entry tax etc. on the procurement side, and the buyers pay service tax and VAT on
purchase of residential units when booked prior to their completion. GST will replace these
multiple taxes with a single tax and all the developers will get the input credit on the material
they are using in construction, thus ensuring a smooth flow of credits through the chain which
an turn will reduce costs for all players.

Also, the present tax laws provide an abatement of 75% on service tax to be paid for property
valuing less than one crore, whereas properties valuing more than one crore allows only 70% of
abatement re luting in a pay out of service tax at the rate of 4.50%. In addition to above,
applicability of VAT & stamp duty is also there. However, abatements will be removed and
stamp duty will continue under GST, increasing the overall tax liability.

Banking
Banks have always been a huge pillar of the Indian economy and taxpayers are literally banking
on them for financial needs.

In India, most of the banking and financial services are exposed to service tax, at the rate of 15%
Under the new tax regime, GST rate for financial services transactions, such as banking. mutual
31
funds, insurance and stock broking has been increased to 18% from 15% earlier. Thus, financial
services transactions to become marginally costlier.

GST applies to all services wherein there is a supply of services for consideration. So, in
banking transactions such as credit card payments, fund transfer, ATM transactions, processing
fees on loans etc., where the banks are levying charges, increased tax rates would apply. This
would have a slight inflationary impact

Also, Interest on loans, trading in securities, foreign currency and retail services will also fall
within the ambit of GST. Thus, it appears that imposing GST on banking and financial services
will make the financial services costly

However, interest on fixed deposits, bank account deposits etc. which do not attract a charge
will remain so even under the new regime.

Since GST is a destination-based tax, it might be a challenge to determine the destination of

certain services (at present, services are taxed at the place of rendering the service). This may
lead to a difficulty in determining state GST, central GST or inter-state GST on B2B and B2C
transactions.

Automobiles
Buyers of passenger vehicles in the premium segment will be key beneficiaries of GST, which
will reduce the effective duty on such models. Prices of small cars will more or less remain the
same as their will only be a minor hike in the duty under the GST.

Cars will be taxed at the top rate of 28% plus a cess in the range of 1% to 15%. Small cars will
be charged 1% cess on top of 28% tax, mid-sized cars will attract 3% cess and luxury cars 15%
cess on top of the peak rate.

A current levy of Indirect taxes on cars varies from 30% to 45%. The rates of GST are as per
the expectations of the industry and almost all segments of the industry have benefitted by way
of a reduced overall tax burden in varying degree.

Moreover, elimination of cascading effect and offset of input tax credit at every stage of value
32
chain will reduce the cost. By and large, the impact of GST may be positive for car segment of
automobile sector. There will be several key beneficiaries of GST including some really giant
companies.

Industry experts opine that GST will lead to the dropping of on road price of vehicles by 8%.
Lower prices can be construed as indirect stimulus to boost volumes. Key beneficiaries would
be Maruti Suzuki, M&M and Eicher Motors.

Further, GST will also enable the auto dealers to get input tax credit for the GST paid by them
at the time of acquiring the vehicles from the OEMs. Similar benefit will accrue to them on the
spare part/service businesses. A reduced overall tax burden will pave the way for stimulating
demand and strengthening the automotive market in the country.

Agriculture
The implementation of GST would boost the economic growth by the means of wider tax base,
compliance in tax payment and by pushing balance of trade on favorable side. One of the most
radical decisions taken at the GST council meet was to fix the applicable GST rate at zero per
cent for most of the primary farm produce

The central government currently taxes neither production/sale of farm produce nor agricultural
incomes. Under GST also, there will be no VAT and the cesses too are supposed to be
subsumed within the zero per cent GST. Thus, there will be no impact of GST on the farming
community.

However, the rates on fruit and vegetable juices, jam, sauces, purees, mixes, concentrates and a
host of processed foods have been set at 12 to 18%. Taking into consideration food consumed
by the poor, food grain and milk have been exempted from taxes. Cereals will be taxed at 5%.
Under the new GST law, dairy farming, poultry farming and stock breeding are kept out of the
definition of agriculture. Therefore, these will be taxable under GST

The main impact of GST in agriculture would bring is the inflation with currently 4% VAT
being increased to 8% on many food items including cereals and grains as the exemption under
VAT is limited to unprocessed food. The most affected from the inflation would be the
consumers living below poverty line.
33
Also, the incidence of taxation on Argo processing industry would also help in reducing the
cost of heavy machinery required for producing agricultural commodities.

Implementation of GST is essential to improve the transparency, reliability, timeline of supply

chain mechanism. Since most of the agricultural commodities are perishable in nature. An
improved supply chain mechanism due to GST would reduce the time taken for inter-state
transportation and would ensure reduction in wastage and cost for the farmers/retailers.

Exports, however, will be zero-rated, meaning exporters of goods and services need not pay
GST on their exports. About its implications on agricultural sector, it could be concluded that
though the overall tax burden on consumers will be less in new tax regime, but certainly it
would have inflationary pressure on the food articles especially processed one which may lead
to restoring the consumption towards fresh farm products.

The implementation of GST is going to benefit a lot, the farmers/ distributors in the long run as
there will be a single unified national agriculture market which will help them to sell them
produce for the best available prices.

Pharmaceuticals
The Indian pharmaceutical industry is the principal supplier of generic drugs all over the world,
with 80% of all AIDS drugs produced in India. The UN has provided licenses to six Indian
pharmaceutical labs to make generic anti-AIDS medicine for all the developing nations. Indian
pharmaceutical companies manufacture 20% of all generic drugs used around the world.

GST in India is likely to have a far-reaching impact on several aspects of business including
pricing of products and services, supply chain, IT systems, accounting, tax compliance
framework & re-skilling of talent.

The pharmaceutical industry was hoping the GST rate on life-saving drugs would be zero, even
as it has been capped at 5% and that of all other formulations at 12%. The rates in the GST
regime are slightly higher than what prevail now.

In the GST regime, essential drugs that treat malaria, HIV-AIDS, tuberculosis, and diabetes fall
in the 5% bracket. Almost all other drugs are in the 12% net.
34
Distributors and stockiest are upset at the loss they might have to incur with the increase in the
effective tax rate. The effective tax rate on formulations, now 9%, has been increased to 12%
and trader margins have been built into the tax rate.

Under the current tax laws on pharmaceutical products, in many states VAT is on maximum
retail price, which is on a single point. Due to this, the distribution channel does not pay VAT.
Thus, for them paying tax under GST coupled with three returns a month is a humongous task.

Earlier, ayurvedic drugs or medicines were charged an average VAT of 4% and excise of 1.5%
due to the excise free manufacturing zone benefit. Under GST, ayurvedic medicines could get
costlier as they would be taxed at the rate of 12%. No clarification has been provided by the
government on the issue of manufacturers operating in excise-free manufacturing zones paying
more tax under GST. Most of these manufacturers are competitive in the pharmaceutical
industry is due to the excise benefit as they are situated in remote places.

The Pharma industry also GST specifically provides for refund of accumulated credit resulting
out of increased rate for inputs vis-a-vis reduced rate of output. This is positive news for the
Pharma industry, which has been struggling with a high amount of blocked credit in the current
regime. Also, special provisions for duty-free movement of goods under jch work model, which
is prevalent in the pharmaceutical industry and fundamental to its operations, have been
provided in the new regime.

GST law also provides seamless transition of entire credit balance as on the cut over date under
the present indirect tax laws. Also, continuity of the area-based indirect tax benefits under une
GST regime is critical as this may also indirectly impact the cost of medicines and ultimate
price to be paid by the patients.

Since GST on inter-state sale of goods would be creditable, there is an opportunity to remodel
current supply chain structure to ensure lower logistics cost and bring in significant operational
efficiency which should have a positive impact on the profitability of the companies. The sector
is hopeful of making refund process fast and simple, this coupled with savings in warehousing
and logistics cost may anticipate a positive impact.

35
Need for the Study:
GST is essentially summation of different state and local taxes into a one single tax. GST helps
in decrease of two-fold taxation, falling impact, issue of arranging and clearing taxes, variety of
taxes and so on. GST made a more extensive tax base, rationalization of tax construction and
harmonization of state and Centre organization

Before GST there were different VAT rates across the country which differ from state to state
but with the introduction of GST, there is a uniform tax system across the country and the taxes
are divided between the state and the central government. GST will help in reduction of tax
theft and corruption in our economy.

Objectives of the Study

 To study the concept of GST in India.
 To measure monthly trends of GST Revenue during the years 2021 to 2023.
 To compare and evaluate of GST Revenue during the years 2021 to 2023.
 The study is confined to India.

Research Methodology
This study is intended to identify the impact of GST on Indian economy. The study is
descriptive in nature, based on simple random method. The primary data was collected in
Goods & Services Tax Website

Source of Data
The study uses secondary data in the form of goods and service tax it is collected from Goods
and service tax website
Scope of the Study
The scope of study is based on various goods and service tax Agriculture, Real estate, gold
shops etc. The study helps create a common market in India with a uniform taxation system and
curb tax evasion in the country.
The study of the GST is far more stringent compared to the erstwhile indirect tax laws. The aim
is to have a nationwide surveillance system under GST, making it easier to catch defaulters and
tax evaders.

36
Limitations of the Study

 The Study is limited to 3 years during 2022,2023,2024.

 The Study is limited to only India.
 The study is confirmed to only secondary data.
 The Study is only for goods and Service tax.

37
 CHAPTER – 2
REVIEW OF LITERATURE

38
 Review of Literature

Taxation policy in ancient India was highly logical and based on the principles of economic
theory and equity in comparison with the current taxation policies of the government. The tax
system of our ancients was quite reasonable, rational, convenient, elastic, appealing and based
on the principles of maximum welfare with some exceptions.

GST is a destination and consumption based indirect tax which is imposed over the supply of
goods and services directly from the manufacturer to the consumer. Thus, the final consumer
will bear only the GST charged by the last dealer in the supply chain, with set-off benefits at all
the previous stages

Yadav, S. S. and Shankar, R., (2018) in their research paper analyzed the history and
evolution of GST in the country and how it has replaced various indirect taxes. Rupa, R. (2017)
in her research paper explained the concept of GST. Also, she highlighted the advantages and
disadvantages of GST in our economy C

Lourdunathan & Xavier, (2017) conducted a study based on exploratory research technique
based on past literature to study the opinions of manufacturers, traders, society etc. about the
GST and the challenges and prospects of introducing GST in India. They concluded that no
doubt GST stands with one tax one nation slogan and will provide relief to producers as well as
consumers. Its efficient implementation will lead to resource and revenue gains. They also said
that seamless credit and return processing without human intervention requires educating.
training, and conducting workshops on GST on the part of government.

Mujalde, S. and Vani, A., (2017), in their research paper on 'Goods and Services Tax (GST)
and its outcomes in India' focused on the features of GST, impact of GST on Indian economy
and discussed possible advantages and challenges of GST

Nath, B., (2017), in his paper on 'Goods and Services Tax: A Mile Stone in Indian Economy'
discussed benefit and impact of GST on Indian economy and also conclude that GST has a
positive impact on various sectors and industries.

Nishitha Guptha, (2017) in her study stated that implementation of GST in the Indian framework

39
will lead to commercial benefits which were untouched by the VAT system and would
essentially lead to economic development.

Kawle, S, P. and Aher, L., Y., (2017) in their research paper highlighted the working of GST
in India along with its impact on the Indian economy.

Nayyar, A. and Singh, 1, (2017) in their study cited that introduction of GST is a breakthrough
in the Indian economy. It will help in redefining the Indian Tax Structure by being more
transparent and corruption free

Abda, S., (2017) in his research paper concentrated on the objectives, purpose and benefits of
GST to our economy and how it will help in strengthening it.

B. MitraPriya, (2017) stated GST as a Game changer in Indian Economy. The paper showed
that GST reduced complexity of various taxes and also removed cascading effect. Tax structure
shown in paper in which various tax rates included. Impact on Tax incidence included various
sectors such as Telecom, E-Commerce, Automobile, real estate, banking and consumer goods.
Impact on input tax credit showed that there would be availability of cross credit utilization in
CGST and SGST.

Kapoor Kapil, (2017) critically examined GST implementation, models, mechanism, issues
and challenges. Development stages GT in India studied in this paper. Exclusions from GST
which is petrol alcohal, tobacco, Diesel and some benefits such as simplicity, transparency.
cascading effect, reduction in burden of tax tax revenue collection, economic growth and no tax
for exporters are included in this paper. Challenges also studied in the paper. So the paper
concluded that proper implementation of GST will lead to economic growth.

Khurana & Sharma, (2016) conducted a study with a view to explore various benefits and
opportunities of GST by throwing a light on its' background, objectives of proposed GST plan
and its impact on Indian tax scenario. They concluded that GST implementation will definitely
benefit producers and consumers although its implementation requires concentrated efforts of
all stake holders especially central and state government.

Munde & chavan, (2016) conducted a study to discuss the pros and cons of GST and accordingly
40
make suggestions to minimise loopholes and make it more effective. They concluded that if the
probable loopholes are dealt effectively, tax payers will accept the change brought upon and if
procedures in GST proves to be simple and assures the involvement of interest of all
stakeholders then definitely it will lead to economic development and rationalization of prices.

Kumar, R., (2016), in his paper 'Comparison between Goods and Services Tax and Current
Taxation System - A Brief Study' differentiate the GST framework and previous taxation
system and highlighted the impact of GST on Indian economy.

Khurana, A. And Sharma, A. (2016), in their paper 'Goods and Services Tax in India - A
Positive Reform for Indirect Tax' highlighted the objectives of GST and reforms in indirect
taxation system in India. And conclude after implementation of GST, manufacturer, wholesaler
and retailer can be easily recovered input taxes in form of tax credit.

Shefalidani, (2016) stated impact of GST on Indian economy in the study in which some
benefits of GST such as one nation one tax, free from cascading effect, increase consumption
due to cascading effect, transparency and GDP growth are studied Petroleum products, real
estate, and liquor are free from GST

Dani, S., (2016) in her research study revealed that GST being a system replacing all indirect
taxes might hamper the progress of the country as the attempt to implement it is not being made
whole heartedly.

Lourdunathan F and Xavier P., (2016) studied in explicit opinion of manufacturers, traders
and society. It also included challenges and prospectus of GST in future in India. Centre and
state level taxes also discussed in this paper. Various states are shown in which GST is followed
for growth of economy. Some issues such demonetization issue, inappropriate time, political
issues, rate for manufacturers and traders, impact on working and cash flow and
Implementation in unorganized sectors became some main issues in path of GST

Sehrawat & Dhanda, (20) conducted a study focused on advantages and challenges of GST
faced by India in execution. They concluded that a simplified and transparent tax system was
the need of Indian economy. Pointing out the various advantages they said that GST will
provide India a world class tax structure and a seamless tax system but it will depend upon
41
effectiveness

42
of its implementation

G. Garg. (2014) analysed the impact of GST on Indian tax scenario. He tried to highlight the
objectives of the proposed GST plan along with the possible challenges and opportunity that
GST brings. He concluded that GST is the most logical steps towards the comprehensive
indirect tax reform in our country since independence. GST is leviable on all supply of goods
and provision of services as well combination thereof.

Rashid et al. (2014) in this paper the authors study impact of GST in Malaysia since it is
proposed to introduce GST in Malaysia in 2015. The GST is being introduced mainly so as to
increase the revenue collections of the government and reduce the deficit. The authors have
studied the impact of the introduction of this GST and its relation to certain indicators like the
consumer price index and the structural balance. For this the relation between these factors and
the GST are studied for Singapore, Thailand, and Indonesia so that whilst implementing GST in
Malaysia the administration can adopt the best practice. The paper recommends transparency in
implementing GST and review of the rates/base of GST after 5 years and rectification based on
the 5-year experience.

N. Kumar, (2014) concluded that GST will help in eradicating economic distortion by current
Indian tax system and is expected to encourage unbiased tax structures which will be indifferent
to geo locations.

Jaiprakash (2014) in his research study mentioned that the GST at the Central and the State
level are expected to give more relief to industry, trade, agriculture and consumers through a
more comprehensive and wider coverage of input tax set-off and service tax setoff, subsuming
of several taxes in the GST and phasing out of CST.

Saravanan Venkadasalam, (2014) has analysed the post effect of the goods and service tax
(GST) on the national growth on ASEAN States using Least Squares Dummy Variable Model
(LSDVM) in his research paper.

Shaik et al, (2015) studied the concept and impact of GST on Indian economy. The study also
focused on some aspects of GST models. This study also covered the advantages and working
of GST. The study concluded that GST in Indian framework will lead to commercial benefits
43
which

44
were untouched by VAT system and would essentially leads to economic development

GST was first discussed on 2003 after the suggestions of Kelkar task force under the
chairmanship of Vijay Kelkar. A proposal to introduce national level GST by April 2010 was
made on the budget speech of year 2006-07. After several efforts and discussion an 122
constitutional amendment bill for GST was brought into parliament, following which 101st
Constitutional (Amendment) Act 2016 was enacted and passed from Lok Sabha(House of the
people) on 3 august 2016 and on 8th august 2016 from Rajya Sabha (Council of States).

45
 CHAPTER – 3
COMPANY PROFILE

46
 INDUSTRY PROFILE

The GST Council Secretariat

The Constitution (One Hundred and Twenty-second Amendment) Bill, 2016, for introduction of
Goods and Services Tax (GST) in the country was accorded assent by the President on 8th
September, 2016, and the same has been notified as the Constitution (One Hundred and First
Amendment) Act, 2016. As per Article 279A (1) of the amended Constitution, the GST Council
has to be constituted by the President within 60 days of the commencement of Article 279A
The notification for bringing into force Article 279A with effect from 12th September, 2016
was issued on 10th September, 2016

As per Article 279A of the amended Constitution, the GST Council will be a joint forum of the
Centre and the States. This Council shall consist of the following members namely -

a) Union Finance Minister Chairperson

b) The Union Minister of State, in-charge of Revenue of finance. Member

c) The Minister In-charge of finance or taxation or any other Minister nominated by each State
Government... Members

As per Article 279A (4), the Council will make recommendations to the Union and the States
on important issue related to GST, like the goods and services that may be subjected or
exempted from GST, model GST Laws, principles that govern Place of Supply, threshold
limits, GST rates including the floor rates with bands, special rates for raising additional
resources during natural calamities/disasters, special provisions for certain States, etc.

The Union Cabinet in its meeting held on 12th September, 2016 approved setting-up of GST
Council and setting-up of its Secretariat. The Cabinet inter alia took decisions for the following:

(a) Creation of the GST Council as per Article 279A of the amended Constitution,

(b) Creation of the GST Council Secretariat, with its office at New Delhi,
47
 (c) Appointment of the Secretary (Revenue) as the Ex-officio Secretary to the GST Council;
(d) Inclusion of the Chairperson, Central Board of Excise and Customs (CBEC), as a permanent
invitee (non-voting) to all proceedings of the GST Council;

(e) Create one post of Additional Secretary to the GST Council in the GST Council Secretariat
is the level of Additional Secretary to the Government of India), and four posts of
Commissioner in the GST Council Secretariat (at the level of Joint Secretary to the Government
of India).

The Cabinet also decided to provide for adequate funds for meeting the recurring and non-
recurring expenses of the GST Council Secretariat, the entire cost for which shall be borne by
the Central Government. The GST Council Secretariat shall be manned by officers taken on
deputation from both the Central and State Governments.

The Finance Minister Shri Arun Jaitley has also decided to call the First Meeting of the GST
Council on 22nd and 23rd September 2016 in New Delhi. It is a matter of satisfaction for the
Government that the steps required in the direction of implementation of GST are being taken
head of the schedule so far.

CA Chandra Kishore Bajpai

GST Council in the 32nd meeting held on 10th January,2019 at New Delhi took following decisions
to give relief to MSME (including small traders), and took following other decisions but same
would be given effect to through Gazette notifications/ circulars which shall have the force of
law.

48
Knowledge is the power and knowledge inflow when a information travel from one to another
Travelling need origination, road, track, destination and no doubt platform where journey may
have break to drop & gather. I am here just to share my little bit knowledge on this platform and
making an effort to enrich my knowledge from this platform, my other contribution can also be
reached at by profession, I am qualified Chartered Accountant of 1998 Batch. Presently
working as Dy. General Manager -indirect Taxation in one of reputed organization, however at
my beginning I was in practice for seven years as well as I worked as Part-Time examiner of
Institute of Chartered Accountants of India and was delivering lectures to CA/CS/ICWA
Students as faculty of Costing, Income Tax and corporate & Business Law. Being a faculty
member, I enjoyed teaching and enriched my understanding of the subjects thoroughly by
solving students' query. Again, I am going to start my own practice as Chartered Accountant
and starting classes for professional students (CA/CS/CMA) also because I believe that we must
share our knowledge to gain more knowledge & experience

In order to implement GST, Constitutional (122nd Amendment) Bill (CAB for short) was
introduced in the Parliament and passed by Rajya Sabha on 03rd August, 2016 and Lok Sabha
on 08th August, 2016. The CAB was passed by more than 15 states and thereafter Hon'ble
President gave assent to "The Constitution (One Hundred and First Amendment) Act, 2016" on
8th of September, 2016. Since then the GST council and been notified bringing into existence
the Constitutional body to decide issues relating to GST

On September 16, 2016, Government of India issued notifications bringing into effect all the
sections of CAB setting firmly into motion the rolling out of GST. This notification sets out an
outer limit of time of one year, that is till 15-9-2017 for bringing into effect GST

49
 CHAPTER- 4
DATA ANALYSIS AND INTERPRETATION

50
 DATA ANALYSIS AND INTERPRETATION

This Chapter covers the data analysis and relating to goods and service tax of India
during the period 2022 to 2024.
State Year Wise Collection of GST:
Sl. No. State 2022 2023 2024
1. Jammu and Kashmir 42174.5 4556 6244
2. Himachal Pradesh 7337 7926 9673
3. Punjab 16324.22 18819 23000
4. Chandigarh 1733.77 2105 2689
5. Uttarakhand 12426.7 14808 18793
6. Haryana 60441.41 76231 95491
7. Delhi 41344.43 49385 63795
8. Rajasthan 34351.49 40262 48847
9. Uttar Pradesh 66003.63 78308 98752
10. Bihar 12107.74 14406 17665
11. Sikkim 2545.01 3796 3615
12. Arunachal Pradesh 716.39 874 1257
13. Nagaland 383.31 477 695
14. Manipur 589.7 518 679.72
15. Mizoram 276.99 308 527
16. Tripura 707.15 781 1013
17. Meghalaya 1534.47 1879 2226
18. Assam 10774.49 12196 14927
19. West Bengal 43259.77 51923 61335.24
20. Jharkhand 25071.16 28128 34441
21. Odisha 38738.86 44143 95999
22. Chhattisgarh 26410.23 28648 39574
23. Madhya Pradesh 28027.06 32080 40858
24. Gujarat 86927.27 102750 121276
25. Daman and Diu 162.9 0 1.94
26. Dadra and Nagar 2842.58 3410
Haveli 3672
27. Maharashtra 190702.99 240518 296573
28. Karnataka 83899.43 108256 279304
29. Goa 3908.08 4675 6332
30. Lakshadweep 159 12 41.9
31. Kerala 19252.04 24284 29860
32. Tamil Nadu 76684.39 178824 117815
33. Puducherry 1631.09 2101 2553
34. Andaman and Nicobar 304.92 321
Islands 415
35. Telangana 40068.86 46246 57847
36. Andhra Pradesh 28884.66 36041 43466
37. Ladakh 374.73 278 443
38. Other Territory 394.73 278 3211

51
 TOTAL 974458.29 1264275 1644906.8

Table 4.1: GST Collection during the period of 2022, 2023, 2024

The above table shows that Goods and Services Tax State wise has been increased from the year
2022 to 2023. From 2022 Goods and Service Tax are increased state wise.

Himachal Pradesh Punjab Chandigarh

Uttarakhand Haryana Delhi
Rajasthan Uttar Pradesh Bihar
Sikkim Arunachal Pradesh Nagaland
Manipur Mizoram Tripura
Meghalaya Assam West Bengal
Jharkhand Odisha Chhattisgarh
Madhya Pradesh Gujarat Daman and Diu
Dadra and Nagar Haveli Maharashtra Karnataka
Goa Lakshadweep Kerala
Tamil Nadu Puducherry Andaman and Nicobar Islands
Telangana Andhra Pradesh Ladakh
Other Territory

Chart 3.2: Collection of GST year wise

52
 Jammu and Kashmir
Year Jan Feb Mar April May June July Aug Sep Oct Nov Dec
2022 0 329.89 351.61 509 232 300 432 392 377 648 383 320
2023 0 326 368 560 372 372 431 434 428 425 430 410
2024 0 434 476 803 421 588 549 523 563 425 496 492

Table 4.2: GST Collection for Jammu and Kashmir

The above table shows that Jammu and Kashmir collection from 2022 to 2024. In 2022
to 2023 there is the increase in the GST collection and in 2023 to 2024 there is
decreased in GST Collection.
2000
1800
1600
1400
1200
1000
800
600
400
200
0
Jan Feb Mar April May June July Aug Sep Oct Nov Dec

2022 2023 2024

Fig.4.1 GST collection for Jammu and Kashmir

From the above Chart it is analyzed that on the Month of April there is high increased in
the GST Collection and in the month of the May there is low increased in GST
collection.

53
 Himachal Pradesh
Year Jan Feb Mar April May June July Aug Sep Oct Nov Dec
2022 0 663.12 686.88 764 540 519 667 704 680 689 762 662
2023 0 657 684 817 741 693 746 709 715 784 672 708
2024 0 690 739 956 828 840 916 725 783 885 802 744

Table 4.3: GST Collection for Himachal Pradesh

The above table shows that Himachal Pradesh collection from 2022 to 2024. In 2022 to
2023 there is the increase in the GST collection and in 2023 to 2024 there is decreased
in GST Collection

3000

2500

2000

1500

1000

500

0
Jan Feb Mar April May June July Aug Sep Oct Nov Dec

2022 2023 2024

Fig.4.2 GST collection for Himachal Pradesh

From the above Chart it is analyzed that on the Month of April there is high increased in
the GST Collection and in the month of the February there is low increased in GST
collection.

54
 Punjab
Year Jan Feb Mar April May June July Aug Sep Oct Nov Dec
2022 0 1299.37 1361.85 1924 1266 1111 1533 1414 1402 1595 1845 1573
2023 0 1480 1572 1994 1833 1683 1733 1651 1710 1760 1669 1734
2024 0 1650 1734 2316 1744 1965 2000 1812 1865 1981 2264 1874

Table 4.4: GST Collection for Punjab

The above table shows that Punjab collection from 2022 to 2024. In 2022 to 2023 there
is the increase in the GST collection and in 2023 to 2024 there is decreased in GST
Collection.

7000

6000

5000

4000

3000

2000

1000

0
Jan Feb Mar April May June July Aug Sep Oct Nov Dec

2022 2023 2024

Fig:4.3 GST collection for Punjab

From the above Chart it is analyzed that on the Month of April there is high increased in
the GST Collection and in the month of the February there is low increased in GST
collection.

55
 Chandigarh
Year Jan Feb Mar April May June July Aug Sep Oct Nov Dec
2022 0 148.5 165.27 203 130 120 169 144 152 158 180 164
2023 0 178 184 249 167 170 176 179 206 203 175 218
2024 0 187 202 254 259 227 217 192 219 209 210 280

Table 4.5: GST Collection for Chandigarh

The above table shows that Chandigarh collection from 2022 to 2024. In 2023 to 2024
there is the increase in the GST collection and in 2023 to 2024 there is decreased in GST
Collection.
800

700

600

500

400

300

200

100

0
Jan Feb Mar April May June July Aug Sep Oct Nov Dec

2022 20223 2024

Fig:4.4 GST collection for Chandigarh

From the above Chart it is analyzed that on the Month of April and December there is
high increased in the GST Collection and in the month of the February and June there is
low increased in GST collection.

56
 Uttarakhand
Year Jan Feb Mar April May June July Aug Sep Oct Nov Dec
2022 0 1181.13 1303.57 1422 893 702 1106 1089 1131 1259 1263 1077
2023 0 1176 1225 1887 1309 1281 1390 1094 1300 1613 1280 1253
2024 0 1405 1523 2148 1431 1522 1607 1352 1392 1834 1600 1469

Table 4.6: GST Collection for Uttarakhand

The above table shows that Uttarakhand collection from 2022 to 2024. In 2022 to 2023 there is
the increase in the GST collection and in 2023 to 2024 there is decreased in GST Collection.

6000

5000

4000

3000

2000

1000

0
Jan Feb Mar April May June July Aug Sep Oct Nov Dec

2022 2023 2024

Fig:4.5 GST collection for Uttarakhand

From the above Chart it is analyzed that on the Month of April there is high increased in the GST
Collection and in the month of the June there is low increased in GST collection.

57
 Haryana
Year Jan Feb Mar April May June July Aug Sep Oct Nov Dec
2022 0 5589.81 5709.60 6658 4663 3801 5330 5618 5577 5606 6016 5873
2023 0 5928 6654 8197 6663 6714 6791 6772 7403 7662 6769 6678
2024 0 7309 4780 10035 7249 7988 7952 7665 8008 8715 9732 8129

Table 4.7: GST Collection for Haryana

The above table shows that Haryana collection from 2022 to 2024. In 2022 to 2023 there is the
increase in the GST collection and in 2023 to 2024 there is decreased in GST Collection.

30000

25000

20000

15000

10000

5000

0
Jan Feb Mar April May June July Aug Sep Oct Nov Dec

2022 2023 2024

Fig: 4.6 GST collection for Haryana

From the above Chart it is analyzed that on the Month of April there is high increased in the GST
Collection and in the month of the March there is low increased in GST collection.

58
 Delhi
Year Jan Feb Mar April May June July Aug Sep Oct Nov Dec
2022 0 3727.46 3925.97 5053 2771 2656 3815 3605 3605 4045 4387 3754
2023 0 3922 4112 5871 4113 4313 4327 4349 4741 4670 4566 4401
2024 0 4769 4840 6320 5147 4744 5405 4619 4848 7753 5347 5121

Table 4.8: GST Collection for Delhi

The above table shows that Delhi collection from 2022 to 2024. In 2022 to 2023 there is the
increase in the GST collection and in 2023 to 2024 there is decreased in GST Collection.

20000
18000
16000
14000
12000
10000
8000
6000
4000
2000
0
Jan Feb Mar April May June July Aug Sep Oct Nov Dec

2022 2023 2024

Fig:4.7 GST collection for Delhi

From the above Chart it is analyzed that on the Month of April and October there is high
increased in the GST Collection and in the month of the May and June there is low increased in
GST collection

59
 Rajasthan
Year Jan Feb Mar April May June July Aug Sep Oct Nov Dec
2022 0 3223.70 3351.79 3820 2464 2176 3129 3049 2959 3423 3698 3058
2023 0 3469 3584 4547 3789 3386 3671 3341 3307 3761 3618 3789
2024 0 3904 4154 4785 3923 3892 3987 3626 3869 4045 4681 3827

Table 4.9: GST Collection for Rajasthan

The above table shows that Rajasthan collection from 2022 to 2024. In 2022 to 2023 there is the
increase in the GST collection and in 2023 to 2024 there is decreased in GST Collection.

14000

12000

10000

8000

6000

4000

2000

0
Jan Feb Mar April May June July Aug Sep Oct Nov Dec

2022 2023 2024

Fig: 4.8 GST collection for Rajasthan

From the above Chart it is analyzed that on the Month of April there is high increased in the GST
Collection and in the month of the June there is low increased in GST collection.

60
 Uttar Pradesh
Year Jan Feb Mar April May June July Aug Sep Oct Nov Dec
2022 0 5996.62 6265.01 7355 4710 4588 6011 5946 5692 6775 6636 6029
2023 0 6519 6620 8534 6670 6835 7074 6781 7004 7839 7254 7178
2024 0 7431 7613 10320 7468 8104 8802 7468 7844 8964 8973 8010

Table 4.10: GST Collection for Uttar Pradesh

The above table shows that Uttar Pradesh collection from 2022 to 2024. In 2022 to 2023 there is
the increase in the GST collection and in 2023 to 2024 there is decreased in GST Collection.

30000

25000

20000

15000

10000

5000

0
Jan Feb Mar April May June July Aug Sep Oct Nov Dec

2022 2023 2024

Fig:4.9 GST collection for Uttar Pradesh

From the above Chart it is analyzed that on the Month of April there is high increased in the GST
Collection and in the month of the May there is low increased in GST collection.

61
 Bihar
Year Jan Feb Mar April May June July Aug Sep Oct Nov Dec
2022 0 1128 1196 1508 849 889 1281 1037 876 1351 1030 963
2023 0 1206 1348 1471 1178 1232 1264 1271 1466 1344 1317 1309
2024 0 1499 1744 1625 1365 1437 1487 1378 1396 1406 1388 1487

Table 4.11: GST Collection for Bihar

The above table shows that Bihar collection from 2022 to 2024. In 2022 to 2023 there is the
increase in the GST collection and in 2023 to 2024 there is decreased in GST Collection.

5000
4500
4000
3500
3000
2500
2000
1500
1000
500
0
Jan Feb Mar April May June July Aug Sep Oct Nov Dec

2022 2023 2024

Fig: 4.10 GST collection for Bihar

From the above Chart it is analyzed that on the Month of March and April there is high
increased in the GST Collection and in the month of the May there is low increased in GST
collection.

62
 Sikkim
Year Jan Feb Mar April May June July Aug Sep Oct Nov Dec
2022 0 222.35 213.66 258 250 212 197 219 260 257 207 249
2023 0 222 230 1264 279 256 249 247 285 265 209 290
2024 0 265 262 425 334 287 313 319 314 326 233 253

Table 4.12: GST Collection for Sikkim

The above table shows that Sikkim collection from 2022 to 2024. In 2022 to 2024 there is the
increase in the GST collection and in 2023 to 2024 there is decreased in GST Collection

2500

2000

1500

1000

500

0
Jan Feb Mar April May June July Aug Sep Oct Nov Dec

2022 2023 2024

Fig: 4.11 GST collection for Sikkim

From the above Chart it is analyzed that on the Month of April there is high increased in the GST
Collection and in the month of the November there is low increased in GST collection

63
 Arunachal Pradesh
Year Jan Feb Mar April May June July Aug Sep Oct Nov Dec
2022 0 61.36 92.03 103 124 33 55 53 55 47 40 53
2023 0 56 105 196 82 59 65 53 64 65 62 67
2024 0 78 141 238 120 90 73 82 81 86 92 96

Table 4.13: GST Collection for Arunachal Pradesh

The above table shows that Arunachal Pradesh collection from 2022 to 2024. In 2022 to 2024
there is the increase in the GST collection and in 2023 to 2024 there is decreased in GST
Collection

600

500

400

300

200

100

0
Jan Feb Mar April May June July Aug Sep Oct Nov Dec

2022 2023 2024

Fig:4.12 GST collection for Arunachal Pradesh

From the above Chart it is analyzed that on the Month of April there is high increased in the
GST Collection and in the month of the June there is low increased in GST collection

64
 Nagaland
Year Jan Feb Mar April May June July Aug Sep Oct Nov Dec
2022 0 34.83 45.48 52 29 30 28 32 30 38 30 34
2023 0 33 43 68 49 34 42 38 49 43 34 44
2024 0 53 57 88 59 79 42 51 51 49 66 45

Table 4.14: GST Collection for Nagaland

The above table shows that Nagaland collection from 2022 to 2024. In 2022 to 2023 there is the
increase in the GST collection and in 2023 to 2024 there is decreased in GST Collection

250

200

150

100

50

0
Jan Feb Mar April May June July Aug Sep Oct Nov Dec

2022 2023 2024

Fig:4.13 GST collection for Nagaland

From the above Chart it is analyzed that on the Month of April there is high increased in the GST
Collection and in the month of the July there is low increased in GST collection.

65
 Manipur
Year Jan Feb Mar April May June July Aug Sep Oct Nov Dec
2022 0 32.34 50.36 103 120 22 37 45 33 64 35 48
2023 0 39 60 69 47 39 45 35 38 50 50 46
2024 0 63 65 90.72 39 60 42 40 56 69 39 49

Table 4.15: GST Collection for Manipur

The above table shows that Manipur collection from 2022 to 2024. In 2022 to 2023 there is the
increase in the GST collection and in 2023 to 2024 there is decreased in GST Collection

300

250

200

150

100

50

0
Jan Feb Mar April May June July Aug Sep Oct Nov Dec

2022 2023 2024

Fig:4.14 GST collection for Manipur

From the above Chart it is analyzed that on the Month of April and Oct there is high increased
in the GST Collection and in the month of the June and August there is low increased in GST
collection.

66
 Mizoram
Year Jan Feb Mar April May June July Aug Sep Oct Nov Dec
2022 0 21.06 34.93 57 15 17 21 16 20 32 23 20
2023 0 24 37 46 25 26 27 28 24 24 24 23
2024 0 57 70 70 38 55 39 31 27 39 32 26

Table 4.16: GST Collection for Mizoram

The above table shows that Mizoram collection from 2022 to 2024. In 2022 to 2023 there is the
increase in the GST collection and in 2023 to 2024 there is decreased in GST Collection

200
180
160
140
120
100
80
60
40
20
0
Jan Feb Mar April May June July Aug Sep Oct Nov Dec

2022 2023 2024

Fig: 4.15 GST collection for Mizoram

From the above Chart it is analyzed that on the Month of April there is high increased in the
GST Collection and in the month of the August and September there is low increased in GST
collection.

67
 Tripura
Year Jan Feb Mar April May June July Aug Sep Oct Nov Dec
2022 0 63 88 110 39 43 65 56 50 67 58 68
2023 0 66 82 107 65 63 63 56 65 76 60 78
2024 0 79 90 133 74 75 78 78 73 91 83 79

Table 4.17: GST Collection for Tripura

The above table shows that Tripura collection from 2022 to 2024. In 2022 to 2023 there is the
increase in the GST collection and in 2023 to 2024 there is decreased in GST Collection

400

350

300

250

200

150

100

50

0
Jan Feb Mar April May June July Aug Sep Oct Nov Dec

2022 2023 2024

Fig: 4.16 GST collection for Tripura

From the above Chart it is analyzed that on the Month of April there is high increased in the GST
Collection and in the month of the May and June there is low increased in GST collection.

68
 Meghalaya
Year Jan Feb Mar April May June July Aug Sep Oct Nov Dec
2022 0 146.5 151.97 206 124 105 121 119 120 140 152 149
2023 0 201 181 227 174 153 138 147 161 164 162 171
2024 0 189 201 239 214 194 175 188 164 142 162 171

Table 4.18: GST Collection for Meghalaya

The above table shows that Meghalaya collection from 2022 to 2024. In 2022 to 2023 there is
the increase in the GST collection and in 2023 to 2024 there is decreased in GST Collection

800

700

600

500

400

300

200

100

0
Jan Feb Mar April May June July Aug Sep Oct Nov Dec

2022 2023 2024

Fig: 4.17 GST collection for Meghalaya

From the above Chart it is analyzed that on the Month of April there is high increased in the GST
Collection and in the month of the July there is low increased in GST collection

69
 Assam
Year Jan Feb Mar April May June July Aug Sep Oct Nov Dec
2022 0 945.84 1004.65 1151 770 662 882 959 968 1425 992 1015
2023 0 1008 115 1313 1062 972 1040 1055 1157 1244 1080 1150
2024 0 1110 1280 1512 1217 1213 1182 1147 1174 1312 1231 1302

Table 4.19: GST Collection for Assam

The above table shows that Assam collection from 2022 to 2024. In 2022 to 2023 there is the
increase in the GST collection and in 2023 to 2024 there is decreased in GST Collection

4500
4000
3500
3000
2500
2000
1500
1000
500
0
Jan Feb Mar April May June July Aug Sep Oct Nov Dec

2022 2023 2024

Fig: 4.18 GST collection for Assam

From the above Chart it is analyzed that on the Month of April and October there is high
increased in the GST Collection and in the month of the March there is low increased in GST
collection

70
 West Bengal
Year Jan Feb Mar April May June July Aug Sep Oct Nov Dec
2022 0 4334.98 4386.79 5236 3590 2744 3463 3678 3778 4259 4083 3707
2023 0 4414 4472 5644 4896 4331 4441 4600 4804 5367 4371 4583
2024 0 4955 5092 6,447.24 5162 5053 5127 4800 4940 4853 4914 5018

Table 4.20: GST Collection for West Bengal

The above table shows that West Bengal collection from 2022 to 2024. In 2022 to 2023 there is
the increase in the GST collection and in 2023 to 2024 there is decreased in GST Collection

20000
18000
16000
14000
12000
10000
8000
6000
4000
2000
0
Jan Feb Mar April May June July Aug Sep Oct Nov Dec

2022 2023 2024

Fig: 4.19 GST collection for West Bengal

From the above Chart it is analyzed that on the Month of April there is high increased in the GST
Collection and in the month of the June there is low increased in GST collection

71
 Jharkhand
Year Jan Feb Mar April May June July Aug Sep Oct Nov Dec
2022 0 2321.03 2416.13 2956 2013 2032 2056 2166 2198 2370 2337 2206
2023 0 2536 2550 3100 2468 2315 2514 2595 2463 2500 2551 2536
2024 0 2961 3083 3701 2584 2830 2858 2720 2623 2886 2632 2631

Table 4.21: GST Collection for Jharkhand

The above table shows that Jharkhand collection from 2022 to 2024. In 2022 to 2023 there is the
increase in the GST collection and in 2023 to 2024 there is decreased in GST Collection

12000

10000

8000

6000

4000

2000

0
Jan Feb Mar April May June July Aug Sep Oct Nov Dec

2022 2023 2024

Fig:4.20 GST collection for Jharkhand

From the above Chart it is analyzed that on the Month of April there is high increased in the GST
Collection and in the month of the May there is low increased in GST collection

72
 Odisha
Year Jan Feb Mar April May June July Aug Sep Oct Nov Dec
2022 0 3340.57 3285.29 3849 3197 3000 3615 3317 3326 3593 4136 4080
2023 0 4101 4125 4910 3956 3965 3652 3884 3765 3769 4162 3857
2024 0 4590 4749 5035 4397 4379 4245 4408 4249 4176 4295 4351

Table 4.22: GST Collection for Odisha

The above table shows that Odisha collection from 2022 to 2024. In 2022 to 2023 there is the
increase in the GST collection and in 2023 to 2024 there is decreased in GST Collection

16000

14000

12000

10000

8000

6000

4000

2000

0
Jan Feb Mar April May June July Aug Sep Oct Nov Dec

2022 2023 2024

Fig:4.21 GST collection for Odisha

From the above Chart it is analyzed that on the Month of April there is high increased in the GST
Collection and in the month of the June there is low increased in GST collection

73
 Chhattisgarh
Year Jan Feb Mar April May June July Aug Sep Oct Nov Dec
2022 0 2453 2544.13 2673 2026 2230 2432 2391 2233 2392 2454 2582
2023 0 2783 2720 2977 2627 2774 2695 2442 2269 2328 2448 2585
2024 0 3009 3016 3508 2524 3012 8204 2895 2383 2681 2935 2612

Table 4.23: GST Collection for Chhattisgarh

The above table shows that Chhattisgarh collection from 2022 to 2024. In 2022 to 2023 there is
the increase in the GST collection and in 2023 to 2024 there is decreased in GST Collection

14000

12000

10000

8000

6000

4000

2000

0
Jan Feb Mar April May June July Aug Sep Oct Nov Dec

2022 2023 2024

Fig: 4.22 GST collection for Chhattisgarh

From the above Chart it is analyzed that on the Month of July there is high increased in the GST
Collection and in the month of the September there is low increased in GST collection

74
 Madhya Pradesh
Year Jan Feb Mar April May June July Aug Sep Oct Nov Dec
2022 0 2791.57 2728.49 3050 1928 2098 2657 2438 2329 2666 2808 2533
2023 0 2853 2935 3339 2746 2837 2966 2814 2711 2910 2890 3079
2024 0 3234 3346 4267 3381 3385 3325 3063 3117 3325 3646 3422

Table 4.24: GST Collection for Madhya Pradesh

The above table shows that Madhya Pradesh collection from 2022 to 2024. In 2022 to 2023
there is the increase in the GST collection and in 2023 to 2024 there is decreased in GST
Collection

12000

10000

8000

6000

4000

2000

0
Jan Feb Mar April May June July Aug Sep Oct Nov Dec

2022 2023 2024

Fig: 4.23 GST collection for Madhya Pradesh

From the above Chart it is analyzed that on the Month of April there is high increased in the GST
Collection and in the month of the May there is low increased in GST collection

75
 Gujarat
Year Jan Feb Mar April May June July Aug Sep Oct Nov Dec
2022 0 8221 8197 9632 6382 6128 7629 7556 7780 8497 9569 7336
2023 0 8873 9158 11264 9321 9207 9183 8684 9020 9469 9333 7336
2024 0 9574 9918 11721 9799 10119 9787 9764 10129 9730 10853 9874

Table 4.25: GST Collection for Gujarat

The above table shows that Gujarat collection from 2022 to 2024. In 2022 to 2023 there is the
increase in the GST collection and in 2023 to 2024 there is decreased in GST Collection

35000

30000

25000

20000

15000

10000

5000

0
Jan Feb Mar April May June July Aug Sep Oct Nov Dec

2022 2023 2024

Fig: 4.24 GST collection for Gujarat

From the above Chart it is analyzed that on the Month of April there is high increased in the GST
Collection and in the month of the December there is low increased in GST collection

76
 Daman & Diu
Year Jan Feb Mar April May June July Aug Sep Oct Nov Dec
2022 0 2.61 3.29 1 153 0 0 1 0 0 0 2
2023 0 0 0 0 0 0 0 0 0 0 0
2024 0 0.11 0.07 0.03 0.10 0.70 0.21 0.07 0.06 0.06 0.09 0.23

Table 4.26: GST Collection for Daman & Diu

The above table shows that Daman & Diu collection from 2022 to 2024. In 2022 to 2023 there is
the increase in the GST collection and in 2023 to 2024 there is decreased in GST Collection

180
160
140
120
100
80
60
40
20
0
Jan Feb Mar April May June July Aug Sep Oct Nov Dec

2022 2023 2024

Fig: 4.25 GST collection for Daman & Diu

From the above Chart it is analyzed that on the Month of May there is high increased in the GST
Collection and in the month of the June there is low increased in GST collection

77
 Dadra and Nagar Haveli
Year Jan Feb Mar April May June July Aug Sep Oct Nov Dec
2022 0 235.09 288.49 292 228 243 227 254 304 269 270 232
2023 0 260 284 381 300 350 313 310 312 279 304 232
2024 0 238 309 398 323 339 353 324 350 373 332 333

Table 4.27: GST Collection for Dadra and Nagar Haveli

The above table shows that Dadra and Nagar collection from 2022 to 2024. In 2022 to 2023
there is the increase in the GST collection and in 2023 to 2024 there is decreased in GST
Collection

1200

1000

800

600

400

200

0
Jan Feb Mar April May June July Aug Sep Oct Nov Dec

2022 2023 2024

Fig:4.26 GST collection for Dadra and Nagar Haveli

From the above Chart it is analyzed that on the Month of April there is high increased in the GST
Collection and in the month of the February there is low increased in GST collection

78
 Maharashtra
Year Jan Feb Mar April May June July Aug Sep Oct Nov Dec
2023 0 16103 17038 22013 13565 13722 18899 15175 16584 19355 18656 19592
2024 0 19423 20305 27495 20313 22341 22129 18863 21403 23037 21611 19592
2025 0 22349 22694 33195 23536 26098 26064 23282 25136 17309 25584 26814

Table 4.28: GST Collection for Maharashtra

The above table shows that Maharashtra collection from 2022 to 2024. In 2022 to 2023 there is
the increase in the GST collection and in 2023 to 2024 there is decreased in GST Collection

90000
80000
70000
60000
50000
40000
30000
20000
10000
0
Jan Feb Mar April May June July Aug Sep Oct Nov Dec

2022 2023 2024

Fig: 4.27 GST collection for Maharashtra

From the above Chart it is analyzed that on the Month of April there is high increased in the GST
Collection and in the month of the February there is low increased in GST collection.

79
 Karnataka
Year Jan Feb Mar April May June July Aug Sep Oct Nov Dec
2022 0 7581.45 7914.98 9955 5754 5103 6737 7429 7783 8259 9048 8335
2023 0 9176 8750 11820 9232 8845 9795 9583 9760 10996 10238 10061
2024 0 10809 1060 14593 10316 61193 11505 11115 11693 11970 11970 11758

Table 4.29: GST Collection for Karnataka

The above table shows that Karnataka collection from 2022 to 2024. In 2022 to 2023 there is the
increase in the GST collection and in 2023 to 2024 there is decreased in GST Collection

80000

70000

60000

50000

40000

30000

20000

10000

0
Jan Feb Mar April May June July Aug Sep Oct Nov Dec

2022 2023 2024

Fig: 4.28 GST collection for Karnataka

From the above Chart it is analyzed that on the Month of June there is high increased in the GST
Collection and in the month of the March there is low increased in GST collection.

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 Goa
Year Jan Feb Mar April May June July Aug Sep Oct Nov Dec
2022 0 643.8 344.28 401 229 256 303 285 319 317 518 592
2023 0 364 386 470 461 429 433 376 429 420 447 460
2024 0 492 514 619 522 480 527 509 496 529 503 552

Table 4.30: GST Collection for Goa

The above table shows that Goa collection from 2022 to 2024. In 2022 to 2023 there is the
increase in the GST collection and in 2023 to 2024 there is decreased in GST Collection

1800
1600
1400
1200
1000
800
600
400
200
0
Jan Feb Mar April May June July Aug Sep Oct Nov Dec

2022 2023 2024

Fig: 4.29 GST collection for Goa

From the above Chart it is analyzed that on the Month of December there is high increased in
the GST Collection and in the month of the June there is low increased in GST collection

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 Lakshadweep
Year Jan Feb Mar April May June July Aug Sep Oct Nov Dec
2022 0 0.46 1.54 4 148 0 1 1 0 2 0 1
2023 0 1 2 3 0 1 2 0 0 2 0 1
2024 0 2 2 2 2 21 2 3 1 1.49 0.41 3

Table 4.31: GST Collection for Lakshadweep

The above table shows that Lakshadweep collection from 2022 to 2024. In 2022 to 2023 there is
the increase in the GST collection and in 2023 to 2024 there is decreased in GST Collection

Chart Title
160
140
120
100
80
60
40
20
0
Jan Feb Mar April May June July Aug Sep Oct Nov Dec

2022 2023 2024

Fig: 4.30 GST collection for Lakshadweep

From the above Chart it is analyzed that on the Month of May there is high increased in the GST
Collection and in the month of the August there is low increased in GST collection.

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 Kerala
Year Jan Feb Mar April May June July Aug Sep Oct Nov Dec
2022 0 1806.10 1827.94 2466 1147 998 1675 1612 1764 1932 2129 1895
2023 0 2074 2089 2689 2064 2161 2161 2036 2246 2485 2094 2185
2024 0 2325 2353 3010 2297 2725 2381 2305 2505 2418 2514 2457

Table 4.32: GST Collection for Kerala

The above table shows that Kerala collection from 2022 to 2024. In 2022 to 2023 there is the
increase in the GST collection and in 2023 to 2024 there is decreased in GST Collection

9000
8000
7000
6000
5000
4000
3000
2000
1000
0
Jan Feb Mar April May June July Aug Sep Oct Nov Dec

2021 2022 Series3

Fig: 4.31 GST collection for Kerala

From the above Chart it is analyzed that on the Month of April there is high increased in the GST
Collection and in the month of the May there is low increased in GST collection

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 Tamil Nadu
Year Jan Feb Mar April May June July Aug Sep Oct Nov Dec
2022 0 7008.21 7579.18 8849 5592 4380 6302 7060 7842 7642 7795 6635
2023 0 7393 8023 9724 7910 8027 8449 8386 8637 95400 8551 8324
2024 0 8773 9245 11558 8952 9600 10021 9474 10481 10761 10254 9887

Table 4.33 : GST Collection for Tamil Nadu

The above table shows that Tamil Nadu collection from 2022 to 2024. In 2022 to 2023 there is
the increase in the GST collection and in 2023 to 2024 there is decreased in GST Collection

120000

100000

80000

60000

40000

20000

0
Jan Feb Mar April May June July Aug Sep Oct Nov Dec

2022 2023 2024

Fig: 4.32 GST collection for Tamil Nadu

From the above Chart it is analyzed that on the Month of October there is high increased in the
GST Collection and in the month of the June there is low increased in GST collection

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 Pondicherry
Year Jan Feb Mar April May June July Aug Sep Oct Nov Dec
2022 0 158.05 161.04 169 123 104 129 156 160 152 172 147
2023 0 178 163 206 181 182 198 200 188 204 209 192
2024 0 188 203 217 202 210 215 231 197 211 228 231

Table 4.34: GST Collection for Pondicherry

The above table shows that Pondicherry collection from 2022 to 2024. In 2022 to 2024 there is
the increase in the GST collection and in 2023 to 2024 there is decreased in GST Collection

700

600

500

400

300

200

100

0
Jan Feb Mar April May June July Aug Sep Oct Nov Dec

2022 2023 2024

Fig:4.33 GST collection for Pondicherry

From the above Chart it is analyzed that on the Month of November there is high increased in
the GST Collection and in the month of the June there is low increased in GST collection

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 Andaman Nicobar
Year Jan Feb Mar April May June July Aug Sep Oct Nov Dec
2022 0 23.26 25.66 61 48 12 19 20 20 26 24 26
2023 0 22 27 87 24 22 23 16 33 23 23 21
2024 0 30 37 91 30 35 30 21 23 28 31 28

Table 4.35: GST Collection for Andaman Nicobar

The above table shows that Andaman Nicobar collection from 2022 to 2024. In 2022 to 2023
there is the increase in the GST collection and in 2022 to 2024 there is decreased in GST
Collection

300

250

200

150

100

50

0
Jan Feb Mar April May June July Aug Sep Oct Nov Dec

2022 2023 2024

Fig: 4.34 GST collection for Andaman Nicobar

From the above Chart it is analyzed that on the Month of April there is high increased in the
GST Collection and in the month of the August there is low increased in GST collection

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 Telangana
Year Jan Feb Mar April May June July Aug Sep Oct Nov Dec
2022 0 3636.44 4166.42 4262 2984 2845 3610 3526 3494 3854 3931 3760
2023 0 4113 4242 4955 3892 3901 4547 3871 3945 4284 4228 4178
2024 0 4423 4804 5622 4506 4681 4849 4392 5225 4867 4985 4752

Table 4.36: GST Collection for Telangana

The above table shows that Telangana collection from 2022 to 2024. In 2022 to 2023 there is the
increase in the GST collection and in 2023 to 2024 there is decreased in GST Collection

16000

14000

12000

10000

8000

6000

4000

2000

0
Jan Feb Mar April May June July Aug Sep Oct Nov Dec

2022 2023 2024

Fig: 4.35 GST collection for Telangana

From the above Chart it is analyzed that on the Month of April there is high increased in the GST
Collection and in the month of the June there is low increased in GST collection

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 Andhra Pradesh
Year Jan Feb Mar April May June July Aug Sep Oct Nov Dec
2022 0 2652.57 2685.09 3345 2074 2051 2730 2591 2595 2879 2750 2532
2023 0 3157 3174 4067 3047 2987 3409 3173 3132 3579 3434 3182
2024 0 3557 3531 4329 3373 3477 3593 3478 3654 3403 4093 3544

Table 4.37: GST Collection for Andhra Pradesh

The above table shows that Andhra Pradesh collection from 2022 to 2024. In 2022 to 2023 there
is the increase in the GST collection and in 2023 to 2024 there is decreased in GST Collection

14000

12000

10000

8000

6000

4000

2000

0
Jan Feb Mar April May June July Aug Sep Oct Nov Dec

2022 2023 2024

Fig:4.36 GST collection for Andhra Pradesh

From the above Chart it is analyzed that on the Month of April there is high increased in the GST
Collection and in the month of the June there is low increased in GST collection

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 Ladakh
Year Jan Feb Mar April May June July Aug Sep Oct Nov Dec
2022 0 9.06 13.67 31 134 118 13 14 15 19 13 15
2023 0 16 23 47 12 13 20 19 19 33 50 26
2024 0 24 22 67 26 14 22 26 34 43 62 57

Table 4.38: GST Collection for Ladakh

The above table shows that Ladakh collection from 2022 to 2024. In 2022 to 2023 there is the
increase in the GST collection and in 2023 to 2024 there is decreased in GST Collection

200
180
160
140
120
100
80
60
40
20
0
Jan Feb Mar April May June July Aug Sep Oct Nov Dec

2022 2023 2024

Fig: 4.37 GST collection for Ladakh

From the above Chart it is analyzed that on the Month of May there is high increased in the GST
Collection and in the month of the February there is low increased in GST collection

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 Other Territory
Year Jan Feb Mar April May June July Aug Sep Oct Nov Dec
2022 0 134.33 122.39 159 121 127 141 109 132 137 95 140
2023 0 136 149 216 185 205 216 224 202 227 184 249
2024 0 210 248 219 200 227 225 184 206 804 221 226

Table 4.39: GST Collection for Other Territory

The above table shows that Other Territory collection from 2022 to 2024. In 2022 to 2023 there
is the increase in the GST collection and in 2023 to 2024 there is decreased in GST Collection

1400

1200

1000

800

600

400

200

0
Jan Feb Mar April May June July Aug Sep Oct Nov Dec

2022 2025 2024

Fig: 4.38 GST collection for Other Territory

From the above Chart it is analyzed that on the Month of October there is high increased in the
GST Collection and in the month of the February there is low increased in GST collection.

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 CHAPTER-5
FINDINGS, CONCLUSION & SUGGESTIONS

91
 FINDINGS

The analysis has been made on year wise and state wise Goods and service Tax

 It consists of 38 different states in India based.

 Each state consists different goods and service tax based on Gold, Pharmaceutical,
Agriculture, Real Estate Etc.
 Every state good and service tax is done by monthly calculation.
 The collection of goods and service is collected during the period 2022,2023 and 2024.
 In Jammu and Kashmir state the goods and service tax rate is increased from 2022 to
2023and decrease from 2023 to 2024 .The GST rate is increased in April and decrease in
May.
 In Himachal Pradesh the Goods and services tax rate is high in April and decrease in
February.
 In Punjab the goods and service tax are high April and decrease in February.
 In Chandigarh the goods and service tax are high in April and December and decrease in
February and June.
 In Uttarakhand the goods and service tax are high in April and decrease in June.
 In Haryana the goods and service tax are high in April and decrease in March.
 In Delhi the goods and service tax are high in April and Oct and decrease in May and
June.
 In Rajasthan the goods and service tax are high in April and decrease in June.
 In Uttar Pradesh the goods and service tax are high in April and decrease in May.
 In Bihar the goods and service tax are high in April and decrease in May.
 In Sikkim the goods and service tax are high in April and decrease in November.
 In Arunachal Pradesh the goods and service tax are high in April and decrease in June.
 In Nagaland the goods and service tax are high in April and decrease in July.
 In Manipur the goods and service tax are high in April and Oct and decrease in August.
 In Mizoram the goods and service tax are high in April and decrease in September.
 In Tripura the goods and service tax are high in April and decrease in May and June.
 In Meghalaya the goods and service tax are high in April and decrease in July.
 In Assam the goods and service tax are high in April and Oct and decrease in March

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 In Jharkhand the goods and service tax are high in April and decrease in May.
 Odisha the goods and service tax are high in April and decrease in June.
 Chhattisgarh the goods and service tax are high in July and decrease in September.
 Madhya Pradesh the goods and service tax are high in April and decrease in December.
 Gujarat the goods and service tax are high in April and decrease in December.
 Daman & Diu the goods and service tax are high in May and decrease in June and July.
 Dadra and Nagar Haveli the goods and service tax are high in April and decrease in Feb.
 Karnataka the goods and service tax are high in June and decrease in March.
 Goa the goods and service tax are high in Dec and decrease in June.
 Lakshadweep the goods and service tax are high in May, and decrease in Sep.
 Kerala the goods and service tax are high in April and decrease in May.
 Pondicherry the goods and service tax are high in Nov and decrease in June.
 Andaman and Nicobar Islands the goods and service tax are high in April and decrease
in August.
 Telangana the goods and service tax are high in April and decrease in June
 Andhra Pradesh the goods and service tax are high in April and decrease in June.
 Ladakh the goods and service tax are high in May and decrease in Feb.
 Other Territory the goods and service tax are high in Oct and decrease in Feb.

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 CONCLUSSION

GST is the effective tool to Generate the money for both types of Government "Central &
State Govt." GST reduces the possibility of tax evasion and frauds also help to reduce
the black transaction. But GST gives negative impact on some peoples who have no
proper knowledge about GST & indirect taxes. Goods and Service Tax has also negative
impact on consumer spending behavior toward the comfort/ commodities.

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 SUGGESTIONS

Some suggestions for better administrative machinery to handle the implementation of

Goods and Services Tax Act in India are

 Standardization of systems and procedures.

 Tax relief in case of branch transfer.
 Well defined procedures in case of Job works. Uniform dispute settlement machinery.
 Adequate training for both tax payers and taxon forcers.
 Re-organization of administrative machinery for GST implementation.
 Building information technology backbone - the single most important initiative for
GST implementation.
 Uniform Implementation of GST should be ensured across all states (unlike the
staggered implementation of VAT) as many issues might arise in case of transactions
between states who comply with GST and states who are not complying with GST.

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96
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