Impact of GST On Indian Economy A Case Study of GST In Uttarakhand

Abstract

Indirect taxes are major sources of revenue for the Indian economy. A major change has taken place in indirect taxation since the goods and services tax law was introduced on July 1, 2017. It replaced 17 types of major indirect taxation. This study conducted in three different areas, i.e., comparison of the Indian GST model with other countries, collection of GST revenue, and impact of GST on businesspeople and consumers. The research compared Indian GST model with the Canadian GST model and the Brazilian GST model. Descriptive study was conducted for businesspersons and consumers. Research finds out perceptions and awareness of GST within Uttarakhand state The study finds strengths in the Indian GST model as compared to the Canadian and Brazilian GST models. The study is relevant for regulatory authorities to convince tax compliance, businesses, and consumers. newlineThe research consists of primary as well as secondary data. Primary data was collected from businessmen and consumers within Uttarakhand State. Primary data analysis of the impact of perception, awareness, and impact of GST in terms of procedure, payment of taxation, online process, and issue under the new GST law Secondary data was collected from government websites that compare Indian GST with Canadian GST and Brazilian GST. GST revenue collection analysis, variation in GST collection in the Pre-GST era and post-GST era. newlineThe study was divided into seven chapters. Chapter one is the introduction and presentation of the research thesis. The chapter emphasized GST procedures, tax collection, payment of taxation, returns, penalties, and the administration system. Chapter 2 is analysis and Comparison between Pre-GST Structure and Post-GST Structure, GST Revenue Collection, comparison of the Indian GST Model with other countries. Chapter 3 analysis literature review related to study. Chapter 4 describes the objective of research, hypotheses, and research methodology. Chapter 5 describes the analysis and interpretation of data collected from businesspersons and