BUSINESSMEN’S PERCEPTION TOWARDS GOODS AND SERVICE TAX (GST) REFORMS IN HARYANA

Abstract

Purpose: The present research paper aims to know the businessmen’s perception towards goods and services tax (GST) reforms.

Methodology: To achieve the above objective a self-structured questionnaire has been used to collect the primary data to achieve the objective. The data has been analysed by applying the t-test, test of homogeneity, and ANOVA with the help of SPSS.

Findings: The study reveals that GST does not reduce the inequality of income in India and it also increases the tax burden on the common man. Additionally, the study found that after the implementation of GST, tax collection of the government has increased, whereas all businessmen accepted that GST affects the spending pattern of individuals.

Suggestions: Government should organise workshops on GST to increase the awareness level among businessmen. Further, return filing process should be simplified. User-friendly GST app should be developed and lower GST rate should be further decreased to reduce the burden on the common man.   

Limitations: The sample size of the study was limited to 792 only. Businessmen were not aware about GST and filing returns. Therefore, most of the businessmen reused to fill the questionnaire. All the changes made by GST Council in GST law could not be considered.

Originality: The paper is original and not a part of any publication.

Keywords: - GST (Goods ad Service Tax), Economic development, Indian economy, Revenue of the Government.