SYNOPSIS

On

An analysis of GST
INTRODUCTION

A tax is an obligatory financial fee or other levy levied on a taxpayer by a governmental

organization to fund public spending as well as numerous public spending. Unpaid charges,
together with tax resistance or evasion, are punishable by law. Taxes are indirect or direct
taxes and may well be paid in cash or as comparable work. In Ancient Egypt around 3000–
2800 BC, the first known taxation occurred. in the term of economics, Taxation transfer from
businesses or households to government.1 This can increase as well as decrease economic,
growth and welfare. Taxation is therefore a subject of great debate.GST stands for Goods and
Services Tax.

Goods and Services Tax (GST) is an indirect (or consumer tax) tax on goods and services
supplied in India. It's a full, multi-stage, destination tax: comprehensive because almost all
indirect taxes have been subsumed, except a few state taxes. Multilateral as it is, GST shall,
in every stage of the production process, be levied on the basis of a tax on consumption and
not as a point of origin, such as previous taxes, but shall not be reimbursed to all parties at
various production stage other than the final consumer. On 1 July 2017 GST comes into
enforced.

The tax was implemented by the Indian government on 1 July 2017 through the one hundred
and first amendment of India's Constitution. The current taxes levied by central and state
governments were superseded by the GST.

STATEMENT OF PROBLEM

State to state differs in VAT rates and regulations. And it was noted that states often use to
cut these rates to attract investors. As a result, both central and state governments will lose
revenue.

HYPOTHESIS
GST introduces consistent fiscal laws across various industries across all states. Taxes here
will be divided between the government of the central and the state on the basis of an
advanced formula. Furthermore, services and goods would be much easier to offer uniformly
across the nation, as there will be no additional taxes.

REVIEW OF LITERATURE

1. GOOD AND SERVICES TAX BY H.C. MEHROTRA & V.P. AGARWAL

(AUTHOR), 4th EDITION: Most comprehensive and authentic book on GST. Define
in very detail about GST. This 4 th Edition comes up with so many updates and revised
thoroughly. Written in very understandable language. Each chapter defines the
detailed structure of GST with relevant examples also. The book covered all the topics
of the GST.
2. A COMPREHENSIVE ANALYSIS OF GOODS AND SERVICES TAX (GST) IN
INDIA BY ANAND NAYYAR & INDERPAL SINGH: A detailed analysis about
GST in India. And define the GST impact on different-different fields. Thorough
analysis and deep research about the GST.
3. SIMPLIFIED APPROACH TO GST BY S K MISHRA: The book was written about
the method of 'self-learning.' the Large number of examples incorporating practical
issues. And simplified approach to GST. And mostly preferable for self-study.

RESEARCH OBJECTIVE

1. To understand the analysis of GST.

2. To detailed study about the GST.

RESEARCH QUESTIONS

1. What is GST?
2. How GST impact India?
METHODOLOGY

This project is largely based on the doctrinal method of data collection which has been
collected from various books, journals, articles available on the subject.

CHAPTERIZATION

1. Tax
2. Goods and services tax
3. Indian taxation system before GST
4. History of GST
5. Structure of GST
6. Advantages and disadvantages of GST
7. Conclusion