A

PROJECT REPORT

ON

"INCOME TAX AUDIT”

SUBMITTED TO

SAVITRIBAI PHULE PUNE UNIVERSITY

IN PARTIAL FULFILLMENT OF 2 YEARS FULL TIME

PROGRAM MASTERS OF BUSINESS ADMINISTRATION (MBA)

SUBMITTED BY

VISHAL VILASRAO KADAM

(BATCH 2022-24)

UNDER THE GUIDANCE OF

PROF. VINAY MUNDE

SINHGAD INSTITUTE OF BUSINESS ADMINISTRATION & RESEARCH,

KONDHWA PUNE
 DECLARATION

I, hereby declare that the project report titled “ Study the Impact of Change of
GST rates on Businesses” written and submitted by me to Savitribai Phule Pune
University in partial fulfillment of the requirement for the award of Master of
Business Administration (MBA) Program is my original work and the conclusions
drawn therein are based on the material collected by myself.

Place: Pune Dhanashree Ghewade

Date:
 ACKNOWLEDGEMENT

I would like to thank the Management of CA Yunus Mukkeri & Co. for giving me
the opportunity to do my summer internship in their esteemed organization in
Finance Department / Division.

I express my thanks to my mentor / project guide Dr. Prachi Murkute & Director
SIBAR Prof. (Dr.) Dhananjay Mandlik under whose able guidance and direction,
I was able to gain deep knowledge and give shape to my project report.

I would also like to thank my institution and all other faculty members without
whom this project would have been a distant reality.

Date: Dhanashree Ghewade

Place:

III
 TABLE OF CONTENT

Sr. No. TOPIC/ CHAPTER Page No.

Executive Summary
1 Introduction 1
1.1 Introduction
2
1.1
Need of the study 2

1.3 Scope of the study 2

1.4 Objective of the study 3

1.5 Limitations of the study 3

2 Company profile 4

CA Yunus Mukkeri & Co 5

3 Review of literature 7

3.1 Theoretical Review 8-18

3.2 Empirical review 19-21

4 Research Methodology 22

4.1 Research 23

4.2 Components of research 23-24

5 Data Analysis and Interpretation 25-35

6 Findings conclusion and suggestion 36-38

7 Learnings through project 39-40

8 Webliography 41

9 Annexure
42-44

IV
 LIST OF TABLES

Table No. Table Heading Page No.

1 Tax structure under GST 12

2 Tax calculation before GST 15

3 Tax calculation under GST 16

4 Nature of tax payers 27

5 Impact of changed GST rates on sales 28

6 Impact of changed GST rates on expenses 29

Impact of changed GST rates on working capital
7 requirement 30

8 Impact of changed GST rates on profits 31

9 Compliances under GST 32

10 GST journey 33
Impact of changed GST on determination of tax
11 rate if supply is made before change 34
Impact of changed GST on determination of tax
12 rate if supply is made after change 35

V
 LIST OF GRAPHS

Table No. Table Heading Page No.

1 Sectors to which the respondents belong 26

2 Nature of Tax Payers 27

3 Impact of changed GST rates on sales 28

4 Impact of changed GST rates on expenses 29

Impact of changed GST rates on working
5 capital requirement 30

6 Impact of changed GST rates on profits 31

7 Compliances under GST 32

8 GST journey 33

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 EXECUTIVE SUMMARY

This report is prepared for the internship phase of Master of Business Administration
program of Savitribai Phule Pune University. This internship program as well as this
report is an indispensable of my course of MBA. During the course (semester III),
students were sent to different business organisation to acquire the real-life
experience.
This report has been prepared based on experience gathered during the period of
internship of 60 days at CA Yunus Mukkeri & Co.
This report focuses on how revision of GST rates affects the businesses for which I
needed to first understand the concept of Goods and Services Tax (GST), Reasons to
introduce GST and how it is different than the previous tax.
This report contains 7 main parts. The first part of the report is introduction to the
study. The second part of the report is an overview of the firm CA Yunus Mukkeri &
Co.. The third part the report is review of literature. Followed by research
methodology.
The fifth part of the report shows the data analysis and interpretations of the data
collected through questionnaire. The next part gives my findings and suggestions
based on the data. The final part of the report is about my learnings from this
internship and the project.

VI
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