An Analysis on Impact of GST Implementation by Indian Government on Traders

Priyanka Goswami; Isha Mishra; Pooja Yadav

Abstract

In today’s scenario we pay various taxes i.e. direct and indirect taxes, which are felt as burden on usand due to these taxes the corruption is increasing. So, to overcome from all these taxation systems thecentral government has decided to make one tax system i.e. goods and services tax (GST). GST is one ofthe most critical tax reforms in India which has been long awaiting decision. It is a comprehensive taxsystem that will subsume all indirect taxes of state and central governments and whole economy intoseamless nation in national market. It is expected to remove the burden of existing indirect tax systemand play an important role in growth of India. GST includes all indirect taxes which will help in growthof economy and proves to be more beneficial than the overall gross domestic product (GDP) of thecountry. GST is now accepted all over the world and countries are using it for sales tax system. Thispaper will help to show that, what is the impact of GST after two years of its implementation, differencebetween present indirect taxes and GST and what will be the impact and challenges of GST after twoyears of its implementation. Analysis of primary data is presented properly together with pie charts.Chi-square test has been used for hypothesis testing.

Abstract

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