GST Return Final

INDEX
Chapter Title Page NO.

NO.
1 INTRODUCTION
1.1 Meaning And Definitions
1.2 Feature And Characterstics
1.3 Origin And Growth
1.4 Advantages And Disadvantages
1.4.1 Advantages/ Benefits
1.4.2 Disadvantage/ Limitation
1.5 Features Of Indirect Taxes
1.6 What Is GST Return
1.7 Who Should File GST Return
1.8 What Are The Type Of GST Return
1.9 Upcoming Due Date To File GST Return
1.9.1 GSTR – 2
1.9.2 GSTR – 3B
1.9.3 GSTR – 4
1.9.4 GSTR – 5
1.9.5 GSTR – 5A
1.9.6 GSTR – 6
2 REVIEW OF LITERATURE
2.1 ARTICLE 1
2.2 ARTICLE 2
2.3 ARTICLE 3
2.4 ARTICLE 4
2.5 ARTICLE 5
3 RESEARCH METHODOLOGY
3.1 Research Design
3.2 Data Collection Method
3.3 Primary Data
3.4 Secondary Data
3.5 Analytical Tools Applied For Study
4 ANALYSIS & INTEPRETATION
4.1 Descriptive Statistics
4.2 Average Score Analysis
4.3 Percentage Analysis
4.4 Gender Wise Analysis
4.5 ANOVA
4.5.1 Gender Wise Single Factor ANOVA For Variable VO2 (E-CASH)
4.5.2 Gender Wise Single Factor ANOVA For Variable VO3 (SECURITY &
PRIVACY)
4.5.3 Gender Wise Single Factor ANOVA For Variable V04 (FLEXIBILITY)
4.5.4 Gender Wise Single Factor ANOVA For Variable V05 (INTERNET)
4.5.5 Gender Wise Single Factor ANOVA For Variable V06 (E
COMMERCE)
4.5.6 Gender Wise Single Factor ANOVA For Variable V07 (E WALLETS)
4.5.7 Gender Wise Single Factor ANOVA For Variable V08( TRUST )
4.5.8 Gender Wise Single Factor ANOVA For Variable V09 (STEP TO
EDUCATE CUSTOMER )
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4.6 Correlation
4.7 Summary Of Finding
4.7.1 Lack Of Security
4.7.2 Lack Of Awarness
4.7.3 Issue With E CASH
4.7.4 Lack Of Trust
5 FINDINGS & SUGGESTIONS

5.1 Cash Is Passed
5.2 Mobile Payment Are In
5.3 Smart Watch Payment Are Next Big Thing
5.4 Contextual Commerce Is The Trend
5.5 Integration Of Mobile Payment
5.6 Advanced Payment Features
5.7 Strategic Alliance
6 CONCLUSION
6.1 Conclusion
6.2 Suggestion
7 BIBILOGRAPHY
8 ANNEXURE
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1
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Chapter 1: Introduction
1.1 Introduction: Meaning and definition

Goods and Services Tax (GST) is an indirect tax (or consumption tax) imposed in India on the supply of
goods and services. GST is imposed at every step in the production process, but is meant to be refunded to
all parties in the various stages of production other than the final consumer.
Goods and services are divided into five tax slabs for collection of tax - 0%, 5%, 12%, 18% and
28%. However, Petroleum products, alcoholic drinks, electricity, are not taxed under GST and instead are
taxed separately by the individual state governments, as per the previous tax regime. There is a special rate
of 0.25% on rough precious and semi-precious stones and 3% on gold. In addition a cess of 22% or other
rates on top of 28% GST applies on few items like aerated drinks, luxury cars and tobacco products. Pre-
GST, the statutory tax rate for most goods was about 26.5%, Post-GST, most goods are expected to be in
the 18% tax range
The tax came into effect from July 1, 2017 through the implementation of One Hundred and First
Amendment of the Constitution of India by the Indian government. The tax replaced existing multiple
flowing taxes levied by the central and state governments.
The tax rates, rules and regulations are governed by the GST Council which consists of the
finance ministers of centre and all the states. GST is meant to replace a slew of indirect taxes with a
federated tax and is therefore expected to reshape the country's 2.4 trillion dollar economy, but not without
criticism. Trucks' travel time in interstate movement dropped by 20%, because of no interstate check posts.
A GST return is a document containing
details of all income/ sales and/or expenses/ purchases that a GST-registered taxpayer (every GSTIN) is required to
file with the tax administrative authorities. This is used by tax authorities to calculate net tax liability.
Under GST, a registered dealer has to file GST returns that broadly include:
• Purchases
• Sales
• Output GST (On sales)
• Input tax credit (GST paid on purchases)
Under the GST regime, regular businesses having more than Rs.5 crore as annual aggregate turnover (and taxpayers
who have not opted for the QRMP scheme) have to file two monthly returns and one annual return. This amounts to
25 returns each year.
Taxpayers with a turnover of up to Rs.5 crore have the option to file returns under the QRMP scheme. The number of
GSTR filings for QRMP filers is 9 each year, which include 4 GSTR-1 and GSTR-3B returns each and an annual
return. Note that QRMP filers have to pay tax on a monthly basis even though they are filing returns quarterly.
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There are also separate statements/returns required to be filed in special cases such as composition dealers where the
number of GSTR filings is 5 each year (4 statement-cum-challans in CMP-08 and 1 annual return GSTR-4).
A GST return is a document containing details of all income/sales and/or expenses/purchases that a GST-registered
taxpayer (every GSTIN) is required to file with the tax administrative authorities. This is used by tax authorities to
calculate net tax liability.
Under GST, a registered dealer has to file GST returns that broadly include
Purchases
Sales
Output GST (On sales)
Input tax credit (GST paid on purchases)
A GST return is a form that a taxpayer registered under the Goods and Services Tax (GST) law must file for every
GSTIN registered. Also, the status of the GSTIN should be active if the taxpayer regularly files the returns. You can
verify the same using our GST search tool. composition taxable persons, e-commerce operators, TDS deductor, non-
resident taxpayer, Input Service Distributor(ISD), casual taxable persons, etc.
Further, the frequency of filing some GST returns may differ among the GSTR-1 and GSTR-3B filers, if they opt into
the Quarterly Return filing and Monthly Payment of taxes (QRMP) scheme.
Did you know that there are 22 types of GST returns prescribed under the GST Rules? Out of them, only 11 GST
returns are active, 4 suspended, and 8 view-only in nature. The number and types of GST return that a
business/professional must file is based on the type of taxpayer registered. These types include regular taxpayer,To file
GST returns or for GST filings, check out the Clear GST software that allows the import of data from various ERP
systems such as Tally, Busy, custom Excel, to name a few. There is also the option to use the desktop app for Tally
users to directly upload data and file.
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FORMATION
he reform of India's indirect tax regime was started in 1985 by
Vishwanath Pratap Singh, Finance Minister in Rajiv Gandhi’s government, with the introduction of the
Modified Value Added Tax (MODVAT). Subsequently, Prime Minister P V Narasimha Rao and his Finance
Minister Manmohan Singh, initiated early discussions on a
Value Added Tax (VAT) at the state level. A single common "Goods and Services Tax
(GST)" was proposed and given a go-ahead in 1999 during a meeting between the Prime
Minister Atal Bihari Vajpayee and his economic advisory panel, which included three former RBI
governors IG Patel, Bimal Jalan and C Rangarajan. Vajpayee set up a committee headed by the Finance
Minister of West Bengal, Asim Dasgupta to design a GST model.
The Ravi Dasgupta committee which was also tasked with putting in place the backend technology
and logistics (later came to be known as the GST Network, or GSTN, in 2015). it later came out for rolling
out a uniform taxation regime in the country. In 2002, the Vajpayee government formed a task force under
Vijay Kelkar to recommend tax reforms. In 2005, the Kelkar committee recommended rolling out GST as
suggested by the 12th Finance Commission.
After the defeat of the BJP-led NDA government in the 2004 Lok Sabha election and the election of a
Congress-led UPA government, the new Finance Minister P Chidambaram in February 2006 continued
work on the same and proposed a GST rollout by 1 April 2010. However, in 2011, with the Trinamool
Congress routing CPI(M) out of power in West Bengal, Asim Dasgupta resigned as the head of the GST
committee. Dasgupta admitted in an interview that 80% of the task had been done.
In the 2014 Lok Sabha election, the Bharatiya Janata Party-led NDA government was elected
into power. With the consequential dissolution of the 15th Lok Sabha, the GST Bill – approved by the
standing committee for reintroduction – lapsed. Seven months after the formation of the Modi government,
the new Finance Minister Arun Jaitley introduced the GST Bill in the Lok Sabha, where the BJP had a
majority. In February 2015, Jaitley set another deadline of 1 April 2017 to implement GST. In May 2016,
the Lok Sabha passed the Constitution Amendment Bill, paving way for GST. However, the Opposition, led
by the Congress, demanded that the GST Bill be again sent back for review to the Select Committee of the
Rajya Sabha due to disagreements on several statements in the Bill relating to taxation. Finally in August
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2016, the Amendment Bill was passed. Over the next 15 to 20 days, 18 states ratified the Constitution
amendment Bill and the President Pranab Mukherjee gave his assent to it.
A 21-member selected committee was formed to look into the proposed GST laws. After
GST Council approved the Central Goods and Services Tax Bill 2017 (The CGST Bill), the Integrated
Goods and Services Tax Bill 2017 (The IGST Bill), the Union Territory Goods and Services Tax Bill 2017
(The UTGST Bill), the Goods and Services Tax (Compensation to the States) Bill 2017 (The Compensation
Bill), these Bills were passed by the Lok Sabha on 29 March 2017. The Rajya Sabha passed these Bills on
6 April 2017 and were then enacted as Acts on 12 April 2017. Thereafter, State Legislatures of different
States have passed respective State Goods and Services Tax Bills. After the enactment of various GST laws,
Goods and Services Tax was launched all over India with effect from 1 July 2017. The Jammu and Kashmir
state legislature passed its GST act on 7 July 2017, thereby ensuring that the entire nation is brought under
an unified indirect taxation system. There was to be no GST on the sale and purchase of securities. That
continues to be governed by Securities Transaction Tax (STT).
Launch
The GST was launched at midnight on 1 July 2017 by the President of India, and the Government of
India. The launch was marked by a historic midnight (30 June – 1 July) session of both the houses of
parliament convened at the Central Hall of the Parliament. Though the session was attended by high-profile
guests from the business and the entertainment industry including Ratan Tata, it was boycotted by the
opposition due to the predicted problems that it was bound to lead for the middle and lower class Indians. It
is one of the few midnight sessions that have been held by the parliament - the others being the declaration
of India's independence on 15 August 1947, and the silver and golden jubilees of that occasion. After its
launch, the GST rates have been modified multiple times, the latest being on 22 December 2018, where a
panel of federal and state finance ministers decided to revise GST rates on 28 goods and 53 services.
Members of the Congress boycotted
the GST launch altogether. They were joined by members of the Trinamool Congress, Communist Parties
of India and the DMK. The parties reported that they found virtually no difference between the GST and
the existing taxation system, claiming that the government was trying to merely rebrand the current
taxation system.[citation needed] They also argued that the GST would increase existing rates on common
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daily goods while reducing rates on luxury items, and affect many Indians adversely, especially the middle,
lower middle and poorer income groups.
Taxes subsumed
The single GST subsumed several taxes and levies which included: central excise duty,
services tax, additional customs duty, surcharges, state-level value added tax and Octroi. Other levies which
were applicable on inter-state transportation of goods have also been done away with in GST regime. GST
is levied on all transactions such as sale, transfer, purchase, barter, lease, or import of goods and/or
services.
India adopted a dual GST model, meaning that taxation is administered by both the
Union and State Governments. Transactions made within a single state are levied with Central GST
(CGST) by the Central Government and State GST (SGST) by the State governments. For inter-state
transactions and imported goods or services, an Integrated GST (IGST) is levied by the Central
Government. GST is a consumption-based tax/destinationbased tax, therefore, taxes are paid to the state
where the goods or services are consumed not the state in which they were produced. IGST complicates tax
collection f or State Governments by disabling them from collecting the tax owed to them directly from the
Central Government. Under the previous system, a state would only have to deal with a single government
in order to collect tax revenue.
RATE:
The GST is imposed at variable rates on variable items. The rate of GST is 18% for soaps and
28% on washing detergents. GST on movie tickets is based on slabs, with 18% GST for tickets that cost
less than Rs. 100 and 28% GST on tickets costing more than Rs.100 and 5% on readymade clothes. The
rate on under-construction property booking is 12%. Some industries and products were exempted by the
government and remain untaxed under GST, such as dairy products, products of milling industries, fresh
vegetables & fruits, meat products, and other groceries and necessities. Check posts across the country
were abolished ensuring free and fast movement of goods.
The Central Government had proposed to insulate the revenues of the States from the impact of
GST, with the expectation that in due course, GST will be levied on petroleum and petroleum products. The
central government had assured states of compensation for any revenue loss incurred by them from the date
of GST for a period of five years. However, no concrete laws have yet been made to support such action.
GST council adopted concept paper discouraging tinkering with rates.
action. GST council adopted concept paper discouraging tinkering with rates. E-Way Bill
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An e-Way Bill is an electronic permit for shipping goods similar to a waybill. It was made
mandatory for inter-state transport of goods from 1 June 2018. It is required to be generated for every inter-
state movement of goods beyond 10 kilometres (6.2 mi) and the threshold limit of ₹50,000 (US$700).
It is a paperless, technology solution and critical anti-evasion tool to check tax leakages and
clamping down on trade that currently happens on a cash basis. The pilot started on 1 February 2018 but
was withdrawn after glitches in the GST Network. The states are divided into four zones for rolling out in
phases by end of April 2018.
A unique e-Way Bill Number (EBN) is generated either by the supplier, recipient or the
transporter. The EBN can be a printout, SMS or written on invoice is valid. The GST/Tax Officers tally the
e-Way Bill listed goods with goods carried with it. The mechanism is aimed at plugging loopholes like
overloading, understating etc. Each e-way bill has to be matched with a GST invoice.
Transporter ID and PIN Code now compulsory from 01-Oct-2018.
It is a critical compliance related GSTN project under the GST, with a capacity to process 75
lakh e-way bills per day.
Intra-State e-Way Bill

The five states piloting this project are Andhra Pradesh, Gujarat, Kerala, Telangana and
Uttar Pradesh, which account for 61.8% of the inter-state e-way bills, started mandatory intrastate e-way
bill from 15 April 2018 to further reduce tax evasion.[30] It was successfully introduced in Karnataka from
1 April 2018.[31] The intrastate e-way bill will pave the way for a seamless, nationwide single e-way bill
system. Six more states Jharkhand, Bihar, Tripura, Madhya Pradesh, Uttarakhand and Haryana will roll it
out from 20 April 18.
All states are mandated to introduce it by May 30, 2018.
Reverse Charge Mechanism

Reverse Charge Mechanism (RCM) is a system in GST where the receiver pays the tax on
behalf of unregistered, smaller material and service suppliers. The receiver of the goods is eligible for Input
Tax Credit, while the unregistered dealer is not.
In the notification dated on 29th January 2019, the Indian government has finally
implemented the RCM (reverse charge mechanism) which started from 1 February 2019 as per the GST
acts and amendments. Also to note that the up to INR 5000 exemptions will be removed effectively.
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Goods kept outside the GST
1) Alcohol for human consumption.
2) Petrol and petroleum products (GST will apply at a later date) viz. Petroleum crude, High speed diesel,
Motor Spirit (petrol), Natural gas, Aviation turbine fuel.
GST Council
GST Council is the governing body of GST having 33 members.[34] It is chaired by the Union
Finance Minister. GST Council is an apex member committee to modify, reconcile or to procure any law or
act or regulation based on the context of goods and services tax in India. The council is headed by the union
finance minister Arun Jaitley assisted with the finance minister of all the states of India. The GST council is
responsible for any revision or enactment of rule or any rate changes of the goods and services in India.
Goods and Services Tax Network (GSTN)
The GSTN software is developed by Infosys Technologies and the Information Technology
network that provides the computing resources is maintained by the NIC. "Goods and Services Tax"
Network (GSTN) is a nonprofit organisation formed for creating a sophisticated network, accessible to
stakeholders, government and taxpayers to access information from a single source (portal). The portal is
accessible to the Tax authorities for tracking down every transaction, while taxpayers have the ability of
connect for their tax returns.
The GSTN's authorised capital is ₹10 crore (US$1.4 million) in which initially the Central
Government held 24.5 percent of shares while the state government held 24.5 percent. The remaining 51
percent were held by non-Government financial institutions, HDFC and HDFC Bank hold 20%, ICICI
Bank holds 10%, NSE Strategic Investment holds 10% and LIC Housing Finance holds 11%.
However, later it was made a wholly owned government company having equal shares of state and
central government.
STATISTICS:
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COLLECTION
Month 2018-19 2017-18
Collections Change Collections Change
April ₹103,459 crore (US$14 billion) NA
May ₹94,016 crore (US$13 billion)[37] NA
June ₹95,610 crore (US$13 billion)[37] NA
July ₹96,483 crore (US$13 billion)[37] NA
August ₹93,960 crore (US$13 billion) [37] ₹93,590 crore (US$13 billion)
September ₹94,442 crore (US$13 billion)[37] ₹93,029 crore (US$13 billion)
October ₹100,710 crore (US$14 billion)[37] ₹95,132 crore (US$13 billion)
November ₹97,637 crore (US$14 billion) ₹85,931 crore (US$12 billion)
December ₹94,726 crore (US$13 billion)[38] ₹83,716 crore (US$12 billion)
January ₹102,503 crore ₹88,929 crore (US$12 billion)
February ₹88,407 crore (US$12 billion)
March ₹89,264 crore (US$12 billion)
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Returns
Filing of GST returns helps in
determination of tax liability of the return
filer and at the same time it also has a huge
bearing on determination of tax liability of
other persons with whom the former has
entered into taxable
activities.
1. INTRODUCTION: The term “return” ordinarily means statement of information (facts)

furnished by the taxpayer, to tax administrators, at regular intervals. The information to be
furnished in the return generally comprises of the details pertaining to the nature of activities/business
operations forming the subject matter of taxation; the measure of taxation such as sale price, turnover, or
value; deductions and exemptions; and determination and discharge of tax liability for a given period.
Inanytaxlaw,“filingofreturns”constitutesthemostimportantcomplianceprocedure which enables the

Government/ tax administrator to estimate the tax collection for a particular period and determine the
correctness and completeness of the tax compliance of the
taxpayers. The returns serve the following purposes
(A) Mode for transfer of information to tax administration
(B) Complianceverification program of tax administration
(C) Finalization of the tax liabilities of the taxpayer within stipulated period of
limitation (D) Providing
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necessary inputs for taking policydecision (E) Management of audit and anti-
evasion programs of tax administration
The taxpayer is generally required to furnish the return in a specific statutory format. These formats are,
therefore, designed to take care of all the provisions of the law that have a bearing on computation of
tax liability of a taxpayer. Hence, a study of various fields contained in the form of return vis-à-vis the
relevant corresponding provisions of the tax law, can facilitate overall understanding of the tax law in a
better manner. Under the GST laws, the correct and timely filing of returns is of utmost importance
because of two reasons. Firstly, under GST laws, a taxpayer is required to estimate his tax liability on
“self-assessment” basis and deposit the tax amount along with/before the filing of such return. The
return, therefore, constitutes a kind of working sheet/supporting document for the tax authorities that
can be relied upon as the basis on whichthe tax has been computed by the taxpayer. Secondly, under the
GSTregime, filing of returns not only determines the tax liability of the person filing the same, but it
also
has a huge bearing on determination of tax liability of other persons with whom the former has entered
into taxable activities.

Chapter IX of the CGST Act [Sections 37 to 48] prescribes the provisions relating to filing of returns as
under:
Section Furnishing details of outward supplies
37
Section
Furnishing details of inward supplies
38
Section
Furnishing of returns
39
Section First return
40
Section Claim of input tax credit and provisional acceptance thereof
41
Section Matching, reversal and re-claim of input tax credit
42
Section Matching, reversal and re-claim of reduction in output tax liability
43
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Section Annual Return
44
Section Final Return
45
Section Notice to return defaulters
46
Section Levy of late fee
47
Section Goods and services tax practitioners
48
RELEVANTDEFINITIONS
Common portal means the common goods and services tax electronic portal referred
to in section 146 [Section 2(26)].
Credit note means a document issued by a registered person under sub- section (1) of
section 34 [Section 2(37)].
Debit note means a document issued by a registered person under sub- section (3) of
section 34 [Section 2(38)].
Electronic cash ledger means the electronic cash ledger referred to in sub- section (1)
of section 49 [Section 2(43)].
Electronic credit ledger means the electronic credit ledger referred to in sub-section
(2) of section 49 [Section 2(46)].
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Exempt supply means supply of any goods or services or both which attracts nil rate of
tax or which may be wholly exempt from tax under section 11, or under section 6 of the
Integrated Goods and Services Tax Act, and includes non-taxable supply [Section 2(47)].
Goods and services tax practitioner means any person who has been approved under
section 48 to act as such practitioner [Section 2(55)].
Invoice or tax invoice means the tax invoice referred to in section 31 [Section 66].
Inward supply in relation to a person, shall mean receipt of goods or services or both
whether by purchase, acquisition or any other means with or without consideration
[Section 2(67)].
Non-resident taxable person means any person who occasionally undertakes

transactions involving supply of goods or services or both, whether as principal or
agent or in any other capacity, but who has no fixed place of business or residence in
India [Section 2(77)].
Outward supply in relation to a taxable person, means supply of goods or services or
both, whether by sale, transfer, barter, exchange, licence, rental, lease or disposal or
any other mode, made or agreed to be made by such person in the course or
furtherance of business [Section 2(83)].
Prescribed means prescribed by rules made under this Act on the recommendations of
the Council [section 2(87)].
Proper officer in relation to any function to be performed under this Act, means the
Commissioner or the officer of the central tax who is assigned that function by the
Commissioner in the Board [Section 2(91)].
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1.2 Features/Characteristics
1. Security:Needless to say, in today’s digital world security is one of the most critical assurances. A
secure software will protect confidential business information and avoid any kind of compromise
that may pose threat to your business. We have witnessed how the Winery virus has recently hit
computer systems across the globe and hackers have asked users for payment in bitcoins against
retrieval of data. Hence, you need to ensure that the GST software you buy is robust not only in
return filing but also from data security point of view as well.
2. Multi-Platform Adaptability : Under the new regime, every business has to be compliant –
there is little choice of an alternative. The concept of invoice matching has been introduced which
will ensure that every taxable person in the value chain files his/her GST Returns on time. This will
directly affect the compliance rating of businesses. Thus, to keep up with these compliance
requirements the GST software your purchase should be enabled on multiple platforms and must be
accessible fromdesktop, tablets or mobile phones at any point in time, increasing the ease of online
return filing.
3. Flexibility: Many large companies are already using some version of Enterprise
Resource Planning (ERP) Software to manage their business operations and record or
report processes. Even small and medium businesses for that matter have accounting
tools for book-keeping. In such an environment, setting up new master data in a new
application (GST Software) is not a feasible option. The GST software must be
flexible enough to integrate with existing systems and provide a seamless experience.
Multiple standalone systems operating in silos will only inflate the operating cost of
businesses.
4. Cognizance:Under the GST regime, a normal taxpayer registered in one state will have to file
twenty-five returns during a financial period. If we look into the dynamics of today’s businesses,
most brands are pan-India or have a global client base. Taking the example of a single online seller
who operates all over the country, we see that he may have to file 25*29 (29 states) = 725 returns in
a single year. That is an average of almost two returns a day! Well, this is why any GST software that
you evaluate must have the intelligence to communicate the user of all possible events coming. This
will ensure that no deadline is missed and your business remains up and running!
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5. User Interface and Reporting:Having discussed all the features above, one key feature which
is universally appreciated is a beautiful user interface. For any typical business person, this ‘beauty‘
means informative dashboards and Informative Reports (MIS). This will enable quick decision
making and transparent operations. Real-time information may help you avoid over/under stocking
and may save on working capital. Also, for many businesses, an evaluation criterion for new
software is the number of clicks to perform a particular task. A good GST software must
accommodate such requirements as well and operate on a minimum user interface principle.
Clear Tax
GST software offers this Advanced Reconciliation Tool that comes with smart features. This tool
helps you reconcile your purchase data with GSTR-2A in a 5X speed. This tool assures 100% of the
ITC claim, intelligence to auto-identify and match invoices in the purchase data with the GSTR-2A
downloaded from GSTN
portal. Features of
Advanced Reconciliation tool introduced by ClearTax GST : 1. Download
Multi-Month GSTR-2A in one go 2. Intelligent
and smart suggestion to link an invoice with the GSTR-2A data 3. Claim maximum ITC
4.
ClearTax 4 buckets to identify data match, mismatch type – a.
Matched – Shows in this section when purchase invoices uploaded by you and GSTR2A data
downloaded from the GSTN portal matches based on default and suggestions from ClearTax
b.
Mismatch In Values – Shows in this section when purchase invoices uploaded by you and GSTR-2A
data downloaded from the GSTN portal doesn’t match which is
highlighted in red on the software
c. Missing In My Data – Shows in this section when you have not uploaded purchase invoices
but data is present on 2A side
d. Missing In Supplier Data (Not In 2A)My Data – Shows in this section when you have
uploaded purchase invoices but data is not present on 2A side.
1.3 Origin and growth

In the year 2000, the then Prime Minister introduced the concept of GST and set up a committee to design a
GST model for the country. In 2003, the Central Government formed a taskforce on Fiscal Responsibility
and Budget Management, which in 2004 recommended GST to replace the existing tax regime by
introducing a comprehensive tax on all goods and services replacing Central level VAT and State level
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VATs. It recommended replacing all indirect taxes except the customs duty with value added tax on all
goods and services with complete set off in all stages of the value chain.
The movement towards GST was articulated by the then Union Finance Minister in his
Budget speech for 2006-07. Initially, it was proposed that GST would be introduced from 1st April
2010.The Empowered Committee of State Finance Ministers (EC) which had formulated the design of
State VAT was requested to come up with a roadmap and structure for GST. Joint Working Groups of
officials having representatives of the States as well as the Centre were set up to examine various aspects of
GST and draw up reports specifically on exemptions and thresholds, taxation of services and taxation of
inter-State supplies. Based on discussions within and between it and the Central Government, the EC
released its First Discussion Paper (FDP) on the GST in November, 2009. This spelt out features of the
proposed GST and has formed the basis for discussion between the Centre and the States so far.
The introduction of the Goods and Services Tax (GST) is a very significant step in the field of indirect
tax reforms in India. By amalgamating a large number of Central and State taxes into a single tax, GST will
mitigate ill effects of cascading or double taxation in a major way and pave the way for a common national
market. From the consumers point of view, the biggest advantage would be in terms of reduction in the
overall tax burden on goods, which is currently estimated to be around 25%-30%. It would also imply that
the
actual burden of indirect taxes on goods and services would be much more transparent to the consumer.
Introduction of GST would also make Indian products competitive in the domestic and international
markets owing to the full neutralization of input taxes across the value chain of production and distribution.
Studies show that this would have a boosting impact on economic growth. Last but not the least, this tax,
because of its transparent and self-policing character, would be easier to administer. It would also
encourage a shift from the informal to formal economy. The government proposes to introduce GST with
effect from 1st July 2017.
The idea of a nationwide GST in India was first proposed by the Kelkar Task Force on Indirect taxes in
2000. The objective was to replace the prevailing complex and fragmented tax structure with a unified
system that would simplify compliance, reduce tax cascading, and promote economic integration.
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GST and Centre-State Financial Relations
Currently, fiscal powers between the Centre and the States are clearly demarcated in the Constitution with
almost no overlap between the respective domains. The Centre has the powers to levy tax on the
manufacture of goods (except alcoholic liquor for human consumption, opium , narcotics etc.) while the
States have the powers to levy tax on sale of goods. In case of inter-states sales, the Centre has the powers
to levy a tax (the Central Sales Tax) but, the tax is collected and retained entirely by the originating States.
As for services, it is the Centre alone that is empowered to levy Service Tax. Since the States are not
empowered to levy any tax on the sale or purchase of goods in the course of their importation into or
exportations from India, the Centre levies and collects this tax in addition to the Basic Customs Duty. This
additional duty of customs (commonly known as CVD and SAD) counterbalance excise duty, sales tax,
State VAT and other taxes levied on the like domestic product. Introduction of GST required amendments
in the Constitution so as to empower the Centre and the States concurrently to levy and collect GST.
.
1.4 Advantages/Disadvantages
1.4.1 Advantages/Benefits:
1. GST is a transparent tax and also reduce number of indirect taxes.

2. GST will not be a cost to registered retailers therefore there will be no hidden taxes and and the cost
of doing business will be lower.
3. Benefit people as prices will come down which in turn will help companies as consumption will
increase.
4. There is no doubt that in production and distribution of goods, services are increasingly used or
consumed and vice versa.
5. Separate taxes for goods and services, which is the present taxation system, requires division of
transaction values into value of goods and services for taxation, leading to greater complications,
administration, including compliances costs.
6. In the GST system, when all the taxes are integrated, it would make possible the taxation burden to
be split equitably between manufacturing and services.
7. GST will be levied only at the final destination of consumption based on VAT principle and not at
various points (from manufacturing to retail outlets). This will help in removing economic
distortions and bring about development of a common national market.
8. GST will also help to build a transparent and corruption free tax administration.
9. Presently, a tax is levied on when a finished product moves out from a factory, which is paid by the
manufacturer, and it is again levied at the retail outlet when sold.
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10. is backed by the GSTN, which is a fully integrated tax platform to deal with all aspects of
GST.
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1.4.2 Disadvantages/Limitations:
1. Some Economist say that GST in India would impact negatively on the real estate market. It would
add up to 8 percent to the cost of new homes and reduce demand by about 12 percent.
2. Some Experts says that CGST(Central GST), SGST(State GST) are nothing but new names for
Central Excise/Service Tax, VAT and CST. Hence, there is no major reduction in the number of tax
layers.
3. Some retail products currently have only four percent tax on them. After GST, garments and clothes
could become more expensive.
4. The aviation industry would be affected. Service taxes on airfares currently range from six to nine
percent. With GST, this rate will surpass fifteen percent and effectively double the tax rate.
5. Adoption and migration to the new GST system would involve teething troubles and learning for
the entire ecosystem
1.5 FEATURES OF INDIRECT TAXES
(i) An important source of revenue : Indirect taxes are a major source of tax revenues for
Governments worldwide and continue to grow as more countries move to consumption oriented tax
regimes. In India, indirect taxes contribute more than 50% of the total tax revenues of Central and
State Governments.
(ii) Tax on commodities and services: It is levied on commodities at the time of manufacture or
purchase or sale or import/export thereof. Hence, it is also known as commodity taxation. It is also
levied on provision of services.
(iii) Shifting of burden : There is a clear shifting of tax burden in respect of indirect taxes. For
example, GST paid by the supplier of the goods is recovered from the buyer by including the tax in
the cost of the commodity.
(iv) No perception of direct pinch : Since, value of indirect taxes is generally inbuilt in the price
of the commodity, most of the time the tax payer pays the same without actually knowing that he is
paying tax to the Government. Thus, tax payer does not perceive a direct pinch while paying
indirect taxes.
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(v) Inflationary :Tax imposed on commodities and services causes an all-round price spiral. In other
words, indirect taxation directly affects the prices of commodities and services and leads to
inflationary trend.
(vi) Wider tax base : Unlike direct taxes, the indirect taxes have a wide tax base.
Majority of the products or services are subject to indirect taxes with low thresholds.
(vii) Promotes social welfare : High taxes are imposed on the consumption of harmful products
(also known as ‘sin goods’) such as alcoholic products, tobacco products etc. This not only checks
their consumption but also enables the State to collect substantial revenue.
1.6 What is GST Return?

A return is a document containing details of income which a taxpayer is required to file with the tax
administrative authorities. This is used by tax authorities to calculate tax liability.
Under GST, a registered dealer has to file GST returns that include:
• Purchases
• Sales
• Output GST (On sales)
• Input tax credit (GST paid on purchases)
To file GST returns, GST compliant sales and purchase invoices are required. You can generate GST
compliant invoices for free on ClearTax BillBook.
All businesses registered under the Goods and Service Tax (GST) are liable to file GST returns monthly,
quarterly, and annually on the basis of the business. While filing the GST return, it is mandatory to provide
the respective details about the sales or purchases of the goods and services together with the amount of tax
that is collected and paid.
For filing the GST returns, one has to file 4 forms that may include the returns for the purchases made,
returns for the supplies, monthly/annual returns, etc.
The government has made GST return filing in India compulsory for all such entities that carry a legit GST
registration.
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Online GST Filing Process
GST can be filed online using the software provided by the Goods and Services Tax Network. Below are the
steps required to file GST online.
How to File GST Returns Online?

Step 1: If you are a new user, you have to first register for GSTIN to obtain a 15-digit GST identification
number.
Step 2: After doing the registration, log in to the GST portal using your credentials and go to the ‘Services’
tab.
Step 3: Access the ‘Returns dashboard’ and select the financial year for which you are filing the GST return.
Step 4: Choose the desired return and select the ‘Prepare Online’ option.
Step 5: Enter all the required details accurately, including any pending late fees.
Step 6: Save the form and submit it, ensuring the status changes to ‘Submitted’.
Step 7: Click on ‘Payment of Tax’ and check the balance, which will display the credit and cash balance.
Step 8: Offset the liability by selecting the ‘Offset Liability’ option.
Step 9: Tick the relevant declaration boxes, choose ‘File Form with DSC’ or ‘File Form with EVC’, and
make the payment.
GST return refers to the periodic statement that holds all the business particularities like income, sales,
purchases, output tax (taxes received on sales), and input tax (tax paid on purchases) for a certain period.
The tax administrative authorities analyze the details to evaluate the net tax liability.
On-time GST filing has various benefits. It helps businesses to maintain a strong relationship with their
suppliers and buyers while boosting the credibility of the company. As a result, it comes in handy when the
company applies for credit.
Also, since the GST return keeps a record of all the transactions, it helps business owners make strategic
business decisions regarding expansion and future investment.
Regular filing of GST returns can reduce the risk of audit by the tax authorities. This can save you from any
unwanted scrutiny and the time and money spent in the process.
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1.7 Who should file GST Returns?
In the GST regime, any regular business has to file two monthly returns and one annual return. This amounts
to 26 returns in a year.
The beauty of the system is that one has to manually enter details of one monthly return – GSTR-1. The
other return GSTR 3B will get auto-populated by deriving information from GSTR-1 filed by you and your
vendors.
There are separate returns required to be filed by special cases such as composition dealers.
Businesses registered under GST must file monthly, quarterly or annual returns depending on the turnover of
their business and the type of goods or services they deal in. These returns are filed with the relevant state or
central tax authority. Companies must keep a detailed record of their sales and purchases, the taxes paid and
the input credit claimed to be able to file the correct GST annual returns. This article discusses the eligibility
for GST return filing.
Generally, any business registered under the GST Act is required to file GST returns. This includes firms that
supply goods and services, either within or outside their state. Even e-commerce operators and non-resident
entities registered under the GST Act must file GST returns.
Who should file GST returns?
Regular enterprises with a yearly turnover of more than Rs. 5 crores (as well as taxpayers who did not
choose the QRMP plan) are required to file two monthly returns and one yearly return under the GST
system. Each year, this results in 25 returns.
Individuals engaged in the supply of services, such as computer programmers, are also eligible for GST
return filing. However, they are only required to obtain a GST registration if their turnover is within the
prescribed limit. Individuals who have exceeded the prescribed limit of Rs. 40 lakhs (for goods) and Rs. 20
lakhs (for services) must obtain a GST registration and file GST returns regularly.
In addition, individuals engaged in the inter-state supply of goods or services must obtain a GST registration
and file returns. The inter-state supply of goods or services is defined as the supply of goods or services from
one state to another.
Apart from businesses, individuals who have opted for the composition scheme under the GST Act are also
required to file GST returns. The composition scheme allows companies with a turnover of up to Rs.1.5
crore to pay a fixed tax rate on their supplies. This scheme benefits small businesses by eliminating the
tedious process of filing returns. Taxpayers under this scheme must file form GSTR-4 by the 30th of April of
the relevant financial year.
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Who should file GST return?
 All business owners and dealers who have registered under the GST system must file GST returns
according to the nature of their business or transactions.
 Regular Businesses.
 Businesses registered under the Composition Scheme.
 Other types of business owners and dealers.
 Amendments.
 Auto-drafted Returns.
Tax Notice.
 What is the minimum turnover limit for GST registration? Companies with a yearly turnover of more
than Rs. 40 Lakhs (for goods) and Rs. 20 lakhs (for services) are required to register for GST and pay
taxes on their taxable goods and services.
 Return filing is mandatory under GST. Even if there is no transaction, you must file a Nil return.
There are few points to note:
 You cannot file a return if you do not file the previous month/quarter’s return.
 Hence, late filing of GST return will have a cascading effect leading to heavy fines and penalty.
 The late filing fee of the GSTR-1 is populated in the liability ledger of GSTR-3B filed immediately
after such delay.
 Interest and Late fee to be paid
 Interest is 18% per annum. It has to be calculated by the taxpayer on the amount of
outstanding tax to be paid. It shall be calculated on the net tax liability identified in the ledger
at the time of payment. The time period will be from the next day of filing due date till the
actual date of payment.
 As per the CGST Act, the late fee is Rs.100 per day per Act. So it is Rs.100 under CGST &
Rs.100 under SGST. The total shall be Rs.200/day. However, there is a maximum levy of
Rs.5,000 per Act. There is no late fee separately prescribed under the IGST Act. For GSTR-
9/9C, the maximum late fee per Act is capped at 0.25% of turnover in the state or Union
Territory. Please note that the amount of late fees can be reduced due to relief schemes
provided by the government. Please check the individual return pages to stay up to date on the
latest late fees.
 To learn more about late fees charged across the GST Return periods, read our article on late
fees under GST.
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1.8 What are the different types of GST Returns?
Here is a list of all the returns to be filed as prescribed under the GST Law along with the due dates.
As per the CGST Act subject to changes by CBIC Notifications
Return Form Particulars Frequency Due Date
GSTR-1 Details of outward supplies of taxable Monthly

11th* of the
goods and/or services
next month
affected
with effect
from
October
2018
*Previously,
the due date
was 10th
GSTR-2 Details of inward supplies of taxable Monthly 15th of the
Suspended goods and/or services affected next month
claiming the input tax credit.
GSTR-3 Monthly return on the basis of Monthly 20th of the

finalization of details of outward
Suspended supplies and inward supplies along next month
with the payment of tax.
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GSTR-3B Simple Return in which summary of Monthly 20th of the
outward supplies along with Input next month
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Tax Credit is declared and payment
of tax is affected by taxpayer
GSTR-4 Return for a taxpayer registered Quarterly 18th of the

under the composition levy month
succeeding
quarter
GSTR-5 Return for a Non-Resident foreign Monthly 20th of the

taxable person next month
GSTR-6 Return for an Input Service Monthly 13th of the

next month
Distributor
GSTR-7 Return for authorities deducting tax Monthly 10th of the

at source. next month
GSTR-8 Details of supplies effected through Monthly 10th of the

next month
e-commerce operator and the
amount of tax collected
GSTR-9 Annual Return for a Normal Annually 31st
Taxpayer December
of next
financial
year*
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GSTR-9A Annual Return a taxpayer registered Annually 31st

under the composition levy anytime
1.9 Upcoming Due Dates to file GST Returns
Due Dates for filing GST Returns can be extended by issuing Orders or Notifications. Here, we have got
for you the list of upcoming GST returns due dates that you must not miss!
GSTR-1
Quarterly GST Return
Annual Turnover up to Rs 1.5 crore can opt for quarterly filing

Quarter Due date
Oct-Dec 2018 31st January 2019
Jan- Mar 2019 30th April 2019
Monthly GST Return

Annual Turnover of more than Rs 1.5 crore must file monthly
Period Dates
December 2018 11th January 2019
January 2019 11th February 2019
February 2019 11th March 2019
March 2019 11th April 2019
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1.9.1 GSTR-2 and GSTR-3
Filing currently suspended
1.9.2 GSTR-3B
GSTR-3B has been extended to March 2019
All businesses have to file GSTR-3B by 20th of next month until the month of March 2019.
1.9.3 GSTR-4
Due date for the quarter October 2018 to December 2018 is 18th Jan 2019 Due
date for the quarter Jan 2019 to Mar 2019 is 18th Apr 2019
1.9.4 GSTR-5
Non-resident taxpayers have to file GSTR-5 by 20th of next month.
1.9.5 GSTR-5A
Those non-resident taxpayers who provide OIDAR services have to file GSTR-5A by 20th of next
month.
1.9.6 GSTR-6
The input service distributors have to file GSTR-6 by 13th of next month.
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CHAPTER: 2 REVIEW OF LITERATURE
2.1 ARTICLE 1
ARTICLE NAME : AN ANALYTICAL STUDY OF AMRITSAR RELATED WITH
ISSUES OF TAX RATES, FILING OF RETURN AND USAGE OF SOFTWARE OF
GOODS AND SERVICE TAX (GST)
AUTHOR NAME :JASMEET KAUR
YEAR OF PUBLICATION: 2017
The main purpose of the paper is to analyse the problems of GST specifically in Amritsar city. The data is
based on questionnaires which were distributors to 200 businessmen ie manufacturers, traders and service
providers of Amritsar to collect their responses. For the purpose of analysing the data, Descriptive statistics
and Chi-square test have been used. The result of the study revealed that majority of the taxpayers are
satisfied with the implementation of GST and they have no difficulty in filing the return. Surprisingly, the
results also found mixed reaction of respondents for usage of GST software. 57.5% of the respondents
reported that their system have been equipped to handle GST software. With regard to usage of GST
software, there is myth that GST software is not much user friendly and can be handle by expert only
2.6ARTICLE 2
ARTICLE NAME : A study on GST (Goods and Service Tax)
AUTHOR NAME : DIMPAL VIJ
YEAR OF PUBLICATION : 2018
The much-awaited biggest indirect tax reform GST (Goods and service Tax) has been introduced in India
since July 1, 2017 as an 122nd amendment of the constitution converting India into a unified market of
1.3 billion citizens. GST was implemented on the notion of “One Nation, One Market, One Tax”. This
single indirect tax has subsumed many indirect taxes of centre and states such as VAT, central excise
duty, central sales tax (CST), service tax etc. besides dismantling all the inter-state trade barriers with
respect to trade. But as was much touted at the time of its launch that this tax will be one of the biggest
game changer that will help businessman and manufacturer by eliminating multiple taxes, cascading
effects of taxes, reducing tax evasion and corruption, bringing more transparency in collection of taxes
hence increasing government revenue by widening tax base and GDP of the country. But nothing proved
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to be true and even after nine months of its implementation and various changes made by the
government, manufactures and businessmen are still in mess juggling with GSTN portal, monthly
returns, various slabs of GSTetc. likewise government also facing problem with decreasing revenue, no
check on corruption and new methods of tax evasion etc. Hence this paper is a modest attempt to find out
why GST failed in fulfilling its objectives and what should be the way forward for GST so that it may
prove a boon to the country rather than hampering the growth of the country.
2.7 ARTICLE 3
ARTICLE NAME :Goods and services tax (GST) implementation in India
AUTHOR NAME :ARUN KUMAR DESHMUKH
YEAR OF PUBLICATION: 2022
In a federal structure, India's determination to much-needed fiscal reforms has been widely
applauded at its face value when she relinquished her previous complex and inefficient tax
regime to embrace the long-awaited Goods and Services Tax (GST). It has been a significant
economic move post-independence and requires validation of facts after its introduction. The
present study aims to present a general macroeconomic analysis of the extent to which the
adoption of GST has improved existing tax administration and resultant general economic
well-being of a democratic political economy like India in light of innovation
implementation theoretical perspective. Further, the study tried to determine how the
stakeholders perceived such big-bang reform even after the three years of its adoption. The
study attempted to assess to what extent the adoption of GST has indeed influenced the
economy in general and citizens and/or consumers in particular while using a case-based
qualitative inquiry. The present research applied the situation–actor–process; learning–
action–performance analysis framework for the case analysis. The facts reveal that India has
observed a tremendous increase in tax base vis-à-vis revenue collection. Yet, some efforts are
desired to improve the low tax to GDP ratio, skewed GST payers base, negative stakeholders’
perception of GST (revealed through Twitter sentiment analysis), and the evil of tax evasion.
The other merits realized by the economy are presented as benefits to the consumers,
MSMEs, improved ease of doing business ranking, and foster make-in-India and
AatmanirbharBharat move by the government.
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2.8 ARTICLE NO. 4
ARTICLE NAME: CURRENT CHANGES IN THE GST LAW: A BRIEF OVERVIEW
AUTHOR NAME : SHIV JAGGRAWAL
YEAR OF PUBLICATION :2017
GST (Goods & Service Tax) is a consumption based indirect tax which levies on consumption of goods
and services with unified tax rates in overall nation. In India, it has implemented on 1st July 2017 with
the objectives of improving tax compliance, tax revenue generation and ease of doing business and also
eliminating the multiple taxes structure and cascading effect of taxation. No doubt GST is an efficient
taxation system which covers the wider scope of supply chain but its implementation in Indian economy
is not good. However, GST council has continuously attempting to improve GSTN features and ease the
GST rules to attain higher level of GST compliance. The present study highlights the overview of some
important changes which have recently been implemented in GST law. Also, present study had suggested
some important changes which the policymakers should implement to improve GST compliance in India.
2.9ARTICLE NO.5
ARTICLE NAME : ROLE OF TRUST IN ADOPTION OF ONLINE GOOD SERVICE TAX
FILING IN INDIA
AUTHOR NAME : SHALINI SHUKLA
YEAR OF PUBLICATION : 2019
The initial adoption of Goods and Service Tax Network (GSTN) is one of the essential driving forces to
influence the success of Goods and Service Tax (GST) in India. In addition, the diffusion of any technology
(in this case, GSTN) is also affected by many variables, such as individual characteristics, organizational
members, and social system. The theory of planned behaviour (TPB) and technology acceptance model
(TAM) are widely used by researchers to understand the impact of these variables on behavioural intention.
Thus, keeping in view the turbulence caused by GST, the present article tried to analyse the intention of
business persons to use the GSTN by integrating TAM and TPB. The authors draw upon the literature to
develop a structured questionnaire on the adoption of technology. Data has been collected from 204 small-
and medium-sized business owners that have a GSTN number. Methodologically, structure equation
modelling has been used to test the significance of the relationship among variables under study. Data
analysis showed that many small business owners were facing technical issues at the time of filing GST.
Results indicated that trust was one of the critical variables affecting the use of GSTN by business persons in
India. However, perceived usefulness, subjective norms, and perceived behavioural control were found to
have a significant influence on attitude towards GSTN that in turn affected the intention to use GSTN by the
business person. The study presents steps for the government to improve the acceptability and understanding
of the GSTN among small-and medium-sized business organizations for better compliance of the new tax
regime. The study contributes to existing literature by testing the role of trust in facilitating the acceptance of
an IT-based tax filing system (GSTN). In a developing country like India, where computer literacy is low,
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making such technology mandatory raises many challenges. The study provides insights in addressing
challenges related to acceptance of GSTN by small-and medium-sized business organizations.
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CHAPTER : 3 RESEARCH METHODOLOGY
3.1 RESEARCH DESIGN
Research design is defined as the logical and systematic approach in planning and directing a piece of
research (Zikmund, Babin, & Carr, 2009). It is the overall plan of how the researcher intends to implement
their projects in practice (Draper et al., 1966). It is also stated as the arrangement of conditions for
collection and analysis of data in a manner that aims to combine relevance to the research purpose in
procedure (Hafez, 2011). The purpose of research design is to ensure that the evidence obtained enables us
to answer the initial objective clearly. There are several types of research design and one of them is
preexperimental designs. The pre-experimental design have three common design that is oneshort case
study, one-group pretest to the posttest design and intact-group comparison.
This research is flowing one-shot case study design. It depend on one group is treatment (X) and only one
observation (O) is done. The one-shot case studies means one group is exposed to the treatment (X), and
only a post test is given to observation (O) or measure the effect on the treatment on the dependent variable
within the experimental group. Since it is applied on a single-group, there is no control group involved in
this design. In this study, the independent variables are construction industry such as developer, consultant
and contractor while dependent variable is Goods and Services Tax (GST) which is affected by
independent variable, and to make sure there is any correlation relationship between independent and
dependent variable.
3.2 DATA COLLECTION METHOD
Data is one of the vital aspects of any research studies. Every research is based on the data which is
analyzed and interpreted to get information. There are two sources of data. Primary data collection applies
surveys, questionnaires, experiments or direct observations. Secondary data collection may be conducted
by collecting information from a diverse source of documents or electronically stored information. In this
research paper, two data collection will be used which is primary data and secondary data collection.
.
3.3 Primary Data
Primary data are the data which are accumulated from the field under the control and superintendence of an
investigator. Primary data means original data that have been collected specially for the purpose in mind.
This type of data is generally a fresh and collected for the first time. It is useful for current studies as well
as for future studies. The collection data tool that has been chosen in this study is questionnaire. Most of the
previous researchers use the questionnaire as their data collection tool in the survey. The collections of
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answer will gain through the questionnaire that had been answered by the developer, consultant and also
contractor which means construction industry.
The questionnaire was administered to a random company through Google form and email to the company.
The used of questionnaire in this study does not meddle with the daily routine at the respondent’s since it
took them only several minutes to answer the questionnaire. A questionnaire has a list of enquiries whether
in an open ended or close ended for which respondents will give an answer according to their cognition.
For this survey, the questionnaire is using the closed-ended question format, in which case the respondent
is asked to select an answer from among a list provided and fill in the answer on the response scale
provided.
3.4 Secondary Data
Secondary data are the data that have been already collected by and readily available from other sources.
Such data are cheaper and more quickly obtainable than the primary data and also may be available when
primary data cannot be obtained at all. The researchers will find the secondary data when it is not possible
to collect the primary data. We can acquire secondary data based on the research that can be gained after go
through certain sources such as indicted sources that have been printed or not. Basically, secondary data
provide the research to understand more about the topic and give clearer perspective and view on the
current study.
Format of questionnaire designed

Title: STRATEGIC OVERVIEW ON E PAYMENT.
Researcher : SHUBHAM .RADHESHYAM. YADAV

Personal details
Respondents Name: _________________________________________
Gender:  Male  Female
Age  Below 20  20-30 30-40  40-50  Above 50
Education  Below graduate  graduate  Post graduate  Professional  Others Experience:
 Below 5 years  05-10 years 10-15 years  15-20 years  Above 20 years Study factor:
1. Do you agree when bank adopt e-payment systems, their performance level changes?
 Highly Agree  Agree  Neutral  Disagree  Highly disagree
2. Do you think the main problem of e-cash is that it is not universally accepted?
 Highly Agree  agree  Neutral  Disagree  Highly disagree
3. Do you agree that Security and privacy dimensions mainly affects on use of e payment modes?
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4. Do you think development of new online mobile payment technologies, which will help make your mobile
device extremely flexible, because you will be able to store credit and debit card information on your SIM
card?
5. Do you agree that internet is playing vital role in the field of e-payment?
6. Do you agree the smart card based e-commerce payment system is best and in the future smart card will
eventually replace the other electronic payment systems?  Highly Agree  Agree  Neutral  Disagree
 Highly disagree
7. Do you think day by day E-commerce playing very good role in online transactions and peoples using this
technology day by day increasing all over the world?
8. Do you think electronic-wallet is a digital wallet which allows user to make electronic commerce
transactions quickly and securely?
9. Do you agree that the issue of trust or lack of it was a major consideration especially in epayments?
10. Do you agree that the banks further have to take necessary steps to educate the customers regarding the new
technology and other services offered by the banks?
11. Do you think impact of cashless economy highly influences e-payment system?
12. Do you agree that the cost of a payment system could be considerably reduced if it is shifted to electronics?
 Highly Agree  Agree  Neutral  Disagree  Highly disagree 13. Do you agree
e-payment operations increase different levels of risk?
14. Do you think the diffusion of payment innovations in competitive environment needs collaboration among
players in the financial service industry?
15. Do you think concept of demonetization positively affects e-payment system?
16. Do you agree that e-payment is one of the technological innovations in banking, finance and commerce?
17. Do you agree that the diffusion of payment strategies in a competitive environment needs collaboration
among players?
18. Do you agree the future of digital currency will be determined by the market demand and supply?
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Rank in order of your preference o Highly agree – 5
points. o Agree – 4 points. o Neutral – 3
points. o Disagree – 2 points. o Highly
disagree – 1point.
3.5 Analytical Tools applied for the study
Data analysis gives meaning to the data that has been collected. More than ____ respondents were given
questionnaire. After verification as to completeness of collected questionnaire, samples were finalized. The
data corresponding to the values in the Likert Scale were entered for each statement in the questionnaire. It
was then checked for accuracy, through three rounds of visual and hardcopy inspections. The MS Excel
data analysis tool was used for statistical data analysis. The statistical analytical tools applied include:
The Average score analysis is mainly used in any study is to assess the level of opinion/awareness/satisfaction of the
different category of respondents on the various aspects relating to the study. First the opinion of the respondents are
assessed through a scaling technique and then based on the consolidated opinion of the respondents, the average
score is calculated.
It is the simple and common method to represent raw streams of data as a percentage for better understanding of
collected data. Percentages are used in making comparison between two or more variables to find the efficacy of
each variable.
4 ANALYSIS & INTERPRETATION
Research ethics refer to the "appropriate" behavior of the researcher in relation to the norms of the society.
It relates to the three parties involved in this research: the researcher, the respondents and Research
supervisor. Researcher assured Confidentiality to the respondents and secrecy will be maintained. The
researcher, on her/his part maintained objectivity, presented the true research findings.
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GST is a boost competitiveness and performance in India’s manufacturing sector. Declining exports and
high infrastructure spending are just some of the concerns of this sector. Multiple indirect taxes had also
increased the administrative costs for manufacturers and distributors and with GST in place, the
compliance burden has eased and this sector will grow more strongly.
But due to GST business which was not under the tax bracket previously will now have to register. This
will lead to lesser tax evasion.
Impact of GST on Service Providers
As of March 2014, there were 12, 76,861 service tax assessees in the country out of which only the top 50
paid more than 50% of the tax collected nationwide. Most of the tax burden is borne by domains such as IT
services, telecommunication services, the Insurance industry, business support services, Banking and
Financial services, etc. These pan-India businesses already work in a unified market and will see
compliance burden becoming lesser. But they will have to separately register every place of business in
each state
The registered person whose aggregate turnover during preceding financial year exceeded Rs. 5 crores, have to file
normal return (i.e. RET-1) on monthly basis mandatorily.The registered person has to file 3 returns such as Form
GST ANX-1, Form GST ANX-2 and Form GST RET-1 every month. In case of lesser turnover also, there is an
option to file normal returns instead of SAHAJ / SUGAM return.
Here we would discuss each type of return form to be filed in details.
Profile Updation:
At beginning of every financial year, a profile updation form needs to be filled online by the registered person to
intimate the department about type of GST return he wishes to file.
There are 3 types of returns such as Normal (monthly/quarterly), Sahaj and Sugam which could be selected for filing
based on registered person's aggregate turnover during the preceding financial year.
The registered person could switch from one type of return to another in the following scenario.
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4.1 Descriptive Statistics
Descriptive statistics are used to describe the basic features of the data in a study. They provide simple
summaries about the sample and the measures. Some measures that are commonly used to describe a data set
are measures of central tendency and measures of variability or dispersion. Measures of central tendency
include the mean, median and mode, while measures of variability include the standard deviation (or
variance), the minimum and maximum values of the variables, kurtosis, skewness, and many more.
The following table provides the descriptive statistics based on the data collected.
(Table-1, Source: Primary data)
➢ In case of Mean, variable V7 is ranked as the highest mean i.e.4.50; followed by 4.40 of variable
V11&V15;followed by 4.37 of variable V5and also 4.27 of variable V16.
➢ In case of Standard Deviation, variable V13 is ranked as the highest standard deviation
i.e.1.22; followed by 1.00 of variable V6 and 0.99 of variable V9.
➢ In case of Sample Variance, variable V13 is ranked as the highest variance i.e.1.50; followed by 0.99 of variable
V6 and 0.98 of variable V09.
➢ In case of Kurtosis, variable V15 is ranked as the highest positive kurtosis value i.e.3.31, followed by 1.16 of
variable V3 and 0.81 of variable V10.
➢ In case of Skewness, 0.74 is the only positive skewness value of variable V01.
➢ In case of confidence Level, variable V13 and variable V6 has the highest confidence level i.e.
4.2 Average score analysis
The Average score analysis is mainly used in any study is to assess the level of
opinion/awareness/satisfaction of the different category of respondents on the various aspects relating to the
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study. First the opinion of the respondents are assessed through a scaling technique and then based on the
consolidated opinion of the respondents, the average score is calculated.

It is found from the above table that,
❖ Highly Average Score’s – o In case of variable V07, Average Score is

highest i.e. 2.64. o In case of variable V11, Average Score is highest i.e.
2.64. o In case of variable V15, Average Score is highest i.e. 2.62. o And
also, variable V05 having the Average score of 2.56.
❖ Low Average Score’s – o In case of variable V13, Average Score is
lowest i.e. 2.06. o In case of variable V06, Average Score is lowest i.e. 2.28.
o In case of variable V12 is followed by variable V18 Average Score is
lowest i.e. 2.28. o And also, variable V09 having the Average score of 2.22.
4.3 Percentage analysis
The percentage analysis/ descriptive analysis describes the distribution of respondents in each
Classification as it is expressed in percentage it facilitates comparison.
Personal factors.
Overall Percentage Analysis
Variable 5 4 3 2 1 total "5"% "4"% "3"% "2"% "1"% total%
V01 10 20 0 0 0 30 33% 67% 0% 0% 0% 100%
V02 5 18 6 1 0 30 17% 60% 20% 3% 0% 100%
V03 5 19 5 1 0 30 17% 63% 17% 3% 0% 100%
V04 12 14 4 0 0 30 40% 47% 13% 0% 0% 100%
V05 16 9 5 0 0 30 53% 30% 17% 0% 0% 100%
V06 7 15 3 5 0 30 23% 50% 10% 17% 0% 100%
V07 15 15 0 0 0 30 50% 50% 0% 0% 0% 100%
V08 9 14 7 0 0 30 30% 47% 23% 0% 0% 100%
V09 7 11 8 4 0 30 23% 37% 27% 13% 0% 100%
V10 10 15 3 2 0 30 33% 50% 10% 7% 0% 100%
V11 15 12 3 0 0 30 50% 40% 10% 0% 0% 100%
V12 6 13 10 1 0 30 20% 43% 33% 3% 0% 100%
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V13 6 10 8 3 3 30 20% 33% 27% 10% 10% 100%
V14 5 18 7 0 0 30 17% 60% 23% 0% 0% 100%
V15 16 12 0 2 0 30 53% 40% 0% 7% 0% 100%
V16 12 14 4 0 0 30 40% 47% 13% 0% 0% 100%
V17 10 14 6 0 0 30 33% 47% 20% 0% 0% 100%
V18 8 18 4 0 0 30 27% 60% 13% 0% 0% 100%
It is found from the above table that the respondents are having following opinion towards Variables:-
1. Highly Agree
–
Against Variable V05 (internet) and V15 (demonetization), 53% respondents replied "Highly
Agree".
2. Agree–
➢ Against Variable V01 (performance level), 67% respondents replied
“Agree”.
3. Neutral–
Against Variable V12 (Cost), 37% respondents replied "Neutral".
4. Disagree
–
➢ Against Variable V06 (Risk Description), 17% respondents replied “Disagree”.
5. Highly Disagree
–
➢ Against Variable V13 (risk), 10% respondents replied
ly Disagree”.
“High
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(Table– 4,Source: Primary Data
)
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❖ In case of variable
V02 (e-cash), 60% respondents expressed their opinion as
“Agree”. Out of which the Female respondents expressed maximum percentage of 30% followed by
30% of Males.
❖ In case of variable V03 (security and privacy), 63% respondents expressed their opinion as
“Agree”. Out of which the Females respondents expressed maximum percentage of 33 % followed
by 30 % of Males.
❖ In case of variable V04 (flexibility), 46% respondents expressed their opinion as “Agree”. Out of
which the Female respondents expressed maximum percentage of 16% followed by 30% of Males.
❖ In case of variable V05 (internet), 53% respondents expressed their opinion as

“Highly Agree”. Out of which the Females respondents expressed maximum percentage of 33 %
followed by 20% of Males.
❖ In case of variable V06 (smart card), 50% respondents expressed their opinion as
“Agree”. Out of which the Males respondents expressed maximum percentage of 20% followed by
30% of Females.
❖ In case of variable V07 (e-commerce), 50% respondents expressed their opinion as

“Highly Agree”. Out of which the Females respondents expressed maximum percentage of 30%
❖ In case of variable V08 (e-wallet), 66% respondents expressed their opinion as

“Agree”. Out of which the Females respondents expressed maximum percentage of 26% followed
by 20% of Males.
❖ In case of variable V09 (issue of trust), 36% respondents expressed their opinion as
“Agree”. Out of which the Males respondents expressed maximum percentage of 16% followed by
20% of Males.
V10 (steps to educate the customer), 50% respondents expressed

their opinion as “Agree”. Out of which the Males respondents expressed maximum percentage of
30% followed by 20% of Females.
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❖ In case of variable V11 (cashless economy), 50% respondents expressed their opinion as “Highly
Agree”. Out of which the Females respondents expressed maximum percentage of 30% followed by
20% of Males.
❖ In case of variable V12 (cost), 44% respondents expressed their opinion as “Agree”. Out of which
the Females respondents expressed maximum percentage of 23% followed by 20% of Males.
❖ In case of variable V13 (risk), 43% respondents expressed their opinion as “Agree”. Out of which
the Males respondents expressed maximum percentage of 23% followed by 10% of Females.
❖ In case of variable V14 (collaboration among players), 59% respondents expressed their opinion as
by 26% of Males.
❖ In case of variable V15 (demonetization), 52% respondents expressed their opinion as

“Highly Agree”. Out of which the Females respondents expressed maximum percentage of 26%
❖ In case of variable V16 (technological innovation), 46% respondents expressed their opinion as
by 23% of Males.
❖ In case of variable V17 (plyers), 46% respondents expressed their opinion as “Agree”. Out of which
the Males respondents expressed maximum percentage of 30% followed by 16% of Females.
V18 (market demand), 47% respondents expressed their opinion

as “Agree”. Out of which the Female respondents expressed maximum percentage of 26% followed
by 33% of Males.
4.5 ANOVA
The Technique of analysis of variance is an extension of the test used to test the equality of several
means. In this section the results of analysis of variance is performed between the different variables
studied and the gender of the respondents. The results are presented in suitable hypothesis with relevant
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interpretations. The Table presented describes the results of ANOVA in terms of study factors, sources of
variations, degrees of freedom, sum of squares, mean sum of squares, F value, p value and its significance
on the study variables.
4.5.1 Gender wise Single – factor ANOVA for Variable V02 (e-cash)
Hypothesis: There is no significant difference between the Genders of respondents on the variable “e-
cash”.
SUMMARY
Groups Count Sum Average Variance

gender 30 44 1.466667 0.257471
V02 30 117 3.9 0.506897
ANOVA
Source of
Variation
SS df MS F P-value F crit
Between Groups 88.81667 1 88.81667 232.3925

0.000000000000000000000599 4.006873
Within Groups 22.16667 58 0.382184
Total 110.9833 59
p value is less than 0.05,hence null

hypothesis is rejected means gender
does not affect
the study variable significantly
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gender 30 44 1.466667 0.257471
V03 30 118 3.933333 0.478161
Source of SS df MS F P-value F crit

Variation
Between 91.26667 1 91.26667 248.1313 0.000000000000000000000129 4.006873
Groups 21.33333 58 0.367816
Within
Groups
Total 112.6 59
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➢ It is found from the Table above that the hypothesis is rejected (Significant).
➢ Hence, it is concluded that there exists a significant differences between the Gender and variable V02 (e-cash).
4.5.2 Gender wise Single – factor ANOVA for Variable V03 (security and privacy)
Hypothesis: There is no significant difference between the Genders of respondents on the variable “security
and privacy”.
SUMMARY
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ANOVA
p value is less than 0.05,hence null hypothesis is rejected means gender does not affect the study variable
significantly
(Table – 8,Source: Primary Data)
➢ Hence, it is concluded that there exists a significant differences between the Gender and variable
V03 (security and privacy).
4.5.3 Gender wise Single – factor ANOVA for Variable V04 (flexibility)
Hypothesis: There is no significant difference between the Genders of respondents on the

variable “flexibility”.
SUMMARY
gender 30 44 1.466667 0.257471
V04 30 128 4.266667 0.478161
ANOVA
Source of
Variation SS df MS F P-value
Between
Groups 117.6 1 0.00000000000000000000000028
319.725 5 4.006873
Within Groups 21.33333 58
0.367816
Total 138.9333 59
hypothesis is rejected
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means gender does not affect the
study variable significantly
V04 (flexibility).
4.5.4 Gender wise Single – factor ANOVA for Variable V05 (internet)
Hypothesis: There is no significant difference between the Genders of respondents on

“internet”
SUMMARY
gender 30 44 1.46666 0.25747
7 1
V05 30 131 4.36666 0.58505
7 7
ANOVA
Source of SS df MS F P-value
Variation
Between 126.15 1 126.15 0.00000000000000000000000142 4.00687
299.455 3
Groups
Within 24.4333 58 0.42126
Groups 3 4
Total 150.583 59
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3
p value is less than 0.05,hence null hypothesis
is rejected means gender does not affect the
(Table –10, Source: Primary Data)
➢ Hence, it is concluded that there exists a significant differences between the Gender and
variable V05 (internet).
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4.5.5 Gender wise Single – factor ANOVA for Variable V07 (e-commerce)

variable “e-commerce”
SUMMARY
gender 30 44 1.466667 0.257471
V07 30 135 4.5 0.258621
ANOVA
Source of
Variation SS df MS F P-value
Between Groups 138.0167 1 138.0167 0.000000000000000000000000000000581 4.006873

Within Groups 14.96667 58 0.258046
Total 152.9833 59
p value is less than 0.05,hence null hypothesis is

rejected means gender does
not affect the study variable significantly
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V07 (e-commerce).
4.5.6 Gender wise Single – factor ANOVA for Variable V08 (e-wallets)

variable “e-wallets”
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SUMMAR
Y
gender 30 44 1.46666 0.25747
7 1
V08 30 122 4.06666 0.54712
7 6
ANOVA
Variation
Between 101.4 1 101.4 252.051 0.0000000000000000000000890 4.00687

Groups 4 3
Within 23.333 58 0.40229
Groups 33 9
Total 59
124.73
33
p value is less than 0.05,hence null hypothesis is rejected means
gender does not affect the
➢ Hence, it is concluded that there exists a significant differences between the Gender and variable V08 (e-
wallets).
4.5.7 Gender wise Single – factor ANOVA for Variable V09 (Trust)
Hypothesis: There is no significant difference between the Genders of respondents on the variable “Trust”
SUMMAR
Y
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gender 30 44 1.46666 0.25747
7 1
V09 30 111 3.7 0.97586
2
ANOVA
Variation
Between 74.8166 1 74.8166 121.324 4.00687

Groups 7 7 3 0.0000000000000007650 3
Within 35.7666 58 0.61666
Groups 7 7
Total 59
110.583
3
hypothesis is rejected means gender does not affect
the study variable significantly
➢ Hence, it is concluded that there exists a significant differences between the Gender and variable V09
(Trust).
4.5.8 Gender wise Single – factor ANOVA for Variable V09 (steps to educate customer)
Hypothesis: There is no significant difference between the Genders of respondents on the variable “steps
to educate customer”
SUMMA
RY
gender 30 44 1.46666 0.25747
7 1
V10 30 123 4.1 0.71379
3
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ANOVA
Variation
Between 104.016 1 104.016 214.188 4.00687

Groups 7 7 2 0.000000000000000000003951 3
Within 28.1666 58 0.48563
Groups 7 2
Total 59
132.183
3
hypothesis is rejected means gender does not affect the
➢ Hence, it is concluded that there exists a significant differences between the Gender and variable V10 (steps
to educate customer).
4.6 Correlation
The correlation is the study of finding the relationship between the variables. If there are only 2
variables in the study of correlations there it is called simple correlation. Otherwise the study is called as
either partial or multiple correlations. If two variables are "positively correlated," they move in the same
direction. When one goes up, the other goes up as well. Two variables that are positively correlated have
a correlation coefficient that is between 0 and +1. The closer the correlation coefficient is to +1, the
more exactly the two variables move together. A correlation coefficient between two variables of exactly
+1.00 means that both variables move in lock-step with each other. A correlation coefficient between
two variables if 0 indicates that there is no relationship between the movement of one variable and
movement of the other variable. If two variables are "negatively correlated," they move in opposite
directions. When one goes up, the other goes down. When one variable goes down, the other goes up.
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Two variables that are "negatively correlated" have a correlation coefficient that is between -1 and 0.
The closer the correlation coefficient is to -1, the more exactly the two variables move in opposite
directions. A correlation coefficient between two variables of exactly -1.00 means that both variables
move lock-step with each other in opposite directions. A correlation coefficient between two variables if
0 indicates that there is no relationship between the movement of one variable and movement of the
other variable. A general way to interpret the calculated value is as follows:
❖ -0.50 to -0.30- Very weak to negligible correlation

❖ -0.30 to -0.18 - Weak correlation
❖ -0.18 to 0 - Moderate correlation
❖ 0 to 0.05 - Strong correlation
❖ 0.06 to 0.30 - Very strong correlation
The Table following describes the results of inter-correlation analysis in terms of correlation coefficient & its
significance at 5% level
Correlation Analysis based on Gender
Var 1 2 3 4 5 6 7 8 9 1 11 12 13 14 1 16 17 1 19 20 2 22 23 2 25 26 2 28 29 3 Correlation
code 0 5 8 1 4 7 0 coefficient
PG1 2 2 1 1 1 2 2 1 1 1 1 2 2 1 1 1 2 2 2 1 2 1 2 1 2 2 1 1 1 2
V01 4 4 4 4 4 4 5 4 4 4 5 5 4 5 4 4 4 5 5 4 5 5 4 4 5 4 4 4 5 4
0.19
V02 3 3 3 5 3 2 4 4 4 4 4 4 4 3 4 4 4 5 4 5 4 4 4 4 4 4 5 5 4 3 -
0.25
V03 2 4 4 4 5 4 4 3 5 3 4 3 4 4 3 4 4 4 5 4 5 4 4 4 4 4 4 4 3 5
0.09
V04 3 5 4 3 4 4 5 5 3 5 5 5 4 5 5 5 4 4 4 4 4 4 4 4 4 5 5 3 5 4 -
0.07
V05 4 3 5 4 5 5 5 4 5 5 5 5 4 5 5 5 3 5 3 4 3 5 3 4 5 4 4 5 4 5 -
0.37
V06 2 2 5 4 3 3 5 2 5 4 3 5 4 4 4 4 4 4 2 4 2 4 4 4 4 5 5 4 5 4 -
0.22
V07 4 4 4 5 4 4 4 5 5 4 4 5 4 5 5 5 4 5 5 4 5 5 4 5 5 4 4 5 4 5 -
0.13
V08 3 3 4 4 3 3 5 4 4 4 3 4 4 5 4 5 3 4 5 4 4 5 5 5 4 5 3 4 5 4 -
0.09
V09 3 2 5 5 5 2 4 4 4 3 3 3 4 3 3 5 2 3 4 4 4 4 4 3 5 4 2 5 4 5 -
0.19
V10 4 5 4 3 5 4 4 5 5 5 4 5 4 5 4 4 4 4 5 5 4 3 5 2 4 3 4 4 2 4
0.13
V11 4 4 5 4 4 3 5 4 5 3 5 5 4 5 4 4 4 3 4 5 5 5 5 5 4 5 5 5 4 5 -
0.16
V12 3 3 5 5 2 3 3 4 5 3 4 4 4 3 4 3 3 5 5 5 4 4 4 4 4 3 4 4 3 4 -
0.10
V13 4 2 5 5 3 2 4 3 4 3 4 3 4 3 3 4 4 5 4 3 1 2 3 1 4 4 5 5 1 5
0.05
V14 4 3 4 4 4 4 4 3 4 3 4 4 3 4 3 4 3 4 3 5 5 5 5 5 4 4 4 4 4 4 -
0.11
V15 2 4 4 2 4 5 5 4 5 4 5 5 4 5 4 4 4 4 5 5 5 5 4 5 5 5 5 5 4 5
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0.03
V16 3 3 5 5 5 5 5 5 5 4 4 5 4 5 4 4 3 3 4 5 4 4 4 5 4 4 4 4 5 4 -
0.47
V17 4 3 4 3 4 4 5 3 4 3 4 4 4 4 3 4 3 5 5 4 5 4 4 5 5 5 5 5 4 5
0.29
V18 3 4 5 4 4 3 5 4 5 4 3 5 4 5 4 5 4 4 4 5 4 4 4 3 4 4 4 4 5 4 -
0.20
(Table – 12, Source: Primary Data *Significant at 5% level (-0.5 – 0 low and 0 – 0.5 high).
From the above table it is found that, o Variable V17 is highly correlated, showing the
value 0.29. o Variable V06 is strongly correlated, showing the value 0.19. o
Also variable V03 having value 0.09. o Variable V13is moderately
correlated, showing the value 0.05
4.7 : Summary of findings
4.7.1 Lack of Security
Online payment systems for the internet are an easy target for stealing money and personal
information. Customers have to provide credit card and payment account details and other
personal information online. This data is sometimes transmitted in an un- secured way, (Kolkata and
Whinstone, 1997). Providing these details by mail or over the telephone also entails security risks.
4.7.2 Lack of Awareness
Making online payment is not an easy task. Even educated people also face problems in making online
payments. Therefore, they always prefer traditional way of shopping instead of online shopping.
Sometimes there is a technical problem in server customers tried to do online payments butthey
fails to do. As a result they avoid it.
4.7.3 Issues with e-Cash
The main problem of e-cash is that it is not universally accepted because it is necessary that the
commercial establishment accept it as payment method. Another problem is that when we makes
payment by using e-cash, the client and the salesman have accounts in the same bank which
issue e-cash. The payment is not valid in other banks.
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For example credit card payments through a website are not easiest way to pay as this system requires
large amount of personal data and contact details in web form. The main problem of e-cash is that it is
not universally accepted because it is necessary that the commercial establishment accept it as payment
method.
The system can be anonymous if that is of relevance. E-cash cannot be lost like credit cards.
Disadvantages- security risks- but the account limit can be set. Not accepted everywhere-currency
issues
Fraud is a problem with electronic payment systems. Typically, a password must be entered and
occasionally, security questions must be answered before making a payment. The genuine identity of the
transaction’s maker cannot be confirmed. The system assumes that the authentic person is logged in as
long as the password and security questions are accurate. If scammers get their hands on this
information, they can steal the money.
Impulse Purchases
Electronic payment methods, especially online, stimulate impulse spending. Customers are more likely
to decide to buy an item they find on sale online because it will only take one click to pay with a credit
card. Impulsive purchasing is a drawback of electronic payment methods that results in disordered
budgeting.
Tax Avoidance
According to the law, companies must give the government copies of their financial documents so that it
can check their tax compliance. The efforts of tax collection, however, can be hampered by electronic
payment. The government might not know the truth if a business doesn’t disclose all of the electronic
payments it’s made or received throughout the tax period; this could lead to tax evasion.
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Lack of Security: Online payment systems for the internet are an easy target used by hackers for stealing
money and personal information. The main problem of e-cash is that it is not commonly accepted because it
is necessary that the commercial institution accept it as payment method.
For example credit card payments through a website are not easiest way to pay as this system requires large
amount of personal data and contact details in web form. The main problem of e-cash is that it is not
universally accepted because it is necessary that the commercial establishment accept it as payment method.
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4.7.4 Lack of Trust
Electronic payments have a long history of fraud, misuse and low reliability as well as it is new system
without established positive reputation. Potential customers often mention this risk as the key reason
why they do not trust a payment services and therefore do not make internet purchases.
5 FINDINGS & SUGGESTIONS
5.1 Cash is passed
The world over cash payments and ATM and check usage is declining as digital payments are becoming
more popular. This is because online payments offer more value, control, and convenience in this
digitalized world compared to cash. Consumers can store their account information and preferences
securely so that they can personalize and automate payments anytime, anywhere when they wish to buy
anything.
5.2 Mobile Payments are in
Mobile payments are not yet completely dominant but they are making fast inroads thanks to the
availability of Near Field Communication (NFC) Smartphone. Apps are offering friendlier interfaces
and shops are using MCX readers or NFC-powered POS terminals to encourage consumers to use their
mobile phones to make convenient payments.
5.3 Smart watch Payments are the Next Big Thing
If you thought mobile payments are revolutionary, technology has already gone one up with smart watch
payments. You can now simply tap or wave your NFC-powered smart watch over a POS machine at the
shop to make the payment. So the smart watch is not just fashionable and trendy, it has become payable
too.
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With recent reports showing that 16 percent of U.S. adults now own a smartwatch, the list of use cases
for wearables is steadily growing. Consumers have come to appreciate the ease of wearing technology
instead of carrying it, and the industry has taken notice.
One attractive feature of wearables is the ability to track health and fitness data long-term with little
effort. Consumers can set fitness goals, share achievements with friends and connect the data to apps on
their smartphones for sharing and further monitoring. Connectivity doesn’t end there – many even use
wearables as an interface for home automation devices. Consumers can use voice commands or
manually change settings for in-home thermostats, home cameras, or smart TVs via a wearable device.
With consumers already wearing devices that can call friends, track their heart rate and change the
channel on the TV, it’s a natural progression for them to demand that these devices are able to make
purchases as well.
The Proliferation of Contactless Payment

“Tap, pay, go” may quickly become the new mantra of the payments industry. With recent adoptions,
such as New York City’s new fare payment system OMNY, which saw 10,700 taps in the first weekend,
consumers are signing on to a contactless lifestyle. Many banks are even pushing the contactless
revolution— Bank of America is reissuing 4 million cards with NFC-enabled upgrades, and they’re not
waiting for re-issuance cycles.
Berg Insight’s NFC Report estimates that 90 percent of European and 88 percent of North American
terminals have NFC capabilities turned on, which means contactless methods are frequently available to
those who prefer to use them to make a payment. With this framework in place and growing
opportunities to use contactless, it is likely that consumers will show further interest in different ways to
pay, including via wearables.
Expectations of a Constantly Improving Experience

Consumers are always seeking the next big innovation to elevate everyday experiences. Mobile
payments is a leading example. Data from Transaction Network Services (TNS) showed that 59 percent
of Americans liked to use mobile payment apps on their smartphones because transactions were quick
and easy.
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Wearables, an evolution of its mobile relative, offer that same appeal with even less hassle. With
payment-enabled wearables like the Apple Watch, consumers can even eliminate the need to take out
their phone for transactions. The customer experience becomes even more seamless with these devices.
If the wearables market is going at all in the direction of mobile payments (and that seems to be the
case), the opportunity to lighten the load in your wallet is upon us. (Bonus: if mobile driver’s licenses
take off, you might be able to ditch the wallet entirely.)
New Wearable Innovations

Perhaps the biggest draw to wearables is the variety that vendors currently offer. Applications that may
come easily to mind include smartwatches or fitness bands, but even more, innovations are emerging as
consumers demand convenient – and fashionable – ways to wear and interact with technology. What’s
more, wearables like bracelets or rings offer discreet, modern looks to further broaden consumer appeal.
For consumers looking for non-jewelry solutions, payment-enabled key fobs offer an always-on-hand
option at the register. Barclays even invented the world’s first contactless jacket. greater adoption of
smartwatches, smart wearables and smart shoes will dramatically expand the market creating an annual
value of almost $30 billion in 2023. Here are the factors currently contributing to the rise of wearables
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5.4 Contextual Commerce is the Trend
The integration of mobile devices, apps, and social media is revolutionizing the manner in which
consumers pay for services and products. Sellers are boosting their conversion rates by making the
purchase process simpler, engaged, and more relevant for consumers. The customer is already present
on their app or website and is ready to buy, so why drive them away to another seller? This is the reason
Pinterest, Twitter, and Facebook are making good use of the impulse buy button to tempt customers and
ensure merchants get faster payments.
Smart sellers are focusing on commerce, context and convenience to boost their sales.
5.5 Integration of Mobile Payments with Loyalty
Merchants and payment companies are integrating payment services with loyalty features to
differentiate their offerings. Starbucks has hitched its loyalty scheme with its payment app. Consumers
get loyalty points when they use their mobile device to pay for their coffee and they can track their
points easily. A good percentage of smartphone users opine they would like to have loyalty schemes on
their devices and merchants see the benefit of offering them the same.
Integration with Other Mobile Wallets and Payment Systems
This integration process of mobile apps into loyalty programs also enhances the customer experience by
offering users a seamless payment process and providing businesses with valuable customer data
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The payment gateway is actually an API you integrate to make a request for charging a customer's card.
Most reputable payment platforms provide an API that works with the backend language of your mobile
app. Using this API, the app can talk to the payment platform.
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5.6 Advanced Payment Features
Payment providers look to serve consumers in multiple commerce channels by expanding their
capabilities to make use of reliability testing, quicker product development, application program
interfaces (APIs), and cloud-based data warehousing. These technologies help payment companies to
compare consumer spends and minimize risk and fraud.
5.7 Strategic Alliances
Merchants need to fully support their customers through their decision cycle which consists of
searching, evaluating, buying, paying, and brand loyalty. They also need to track buyers across various
shopping channels like mobile and online. To help merchants’ needs, payment providers are looking to
expand their products by forming alliances with cloud-based applicators, data analytics specialists, app
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developers, and digital innovators to offer integrated payment solutions. Thus, it has become important
to form technological and strategic partnerships to stay relevant and competitive.
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d
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6: Conclusion
This chapter spotlights on broad explanation made by the study against each objective are specified
here. The suggestion for future research and for the sample public of that area is deeply stated here.
This section might be called as conclusion. The purpose of this section is to highlight the major
statistical findings from the results section and interpret them. It starts with restating the overall purpose
of the study. Then explain the main finding as related to the overall purpose of the study. Next,
summarizing the other interesting findings from the results section. Then explaining how the statistical
findings relate to that purpose of the study. Also describe how the results are related to education in
general. All explanations are supported by the results of the data analysis.
Generally, the conclusion section does not need to include any numbers. No statistics need to be
repeated from the results, nor does the discussion need to refer to table numbers. Hence the result is
explaining the results in language that is easy for a non-researcher to understand. The study on strategic
overview on e-payment has led to conclusion that, the Customers of the Hindustan co. bank have the
basic knowledge of e-payment and also expected knowledge has been seen while collecting data.
6.1 Conclusion
Any reliable e-Payment System should guarantee privacy, integrity, compatibility, efficiency,
acceptability, convenience, mobility, anonymity and low financial risk. The smart card-based e-Payment
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system is essentially a credit card sized plastic card with memory chips and probably an embedded
microprocessor that offers greater storage capacity than the ordinary credit card.
Security is a major issue in online payment system as there are various internet threats which affect the
security system of internet and increase risk. The current authentication technique for online payment
system is not very secure to protect user from identity theft, as a result any attacker gain the access on
confidential information of user like credit card number or account password and make illegal transfer
of fund. It is proved from our background study that single factor authentication increases risks posed
by phishing, identity theft, fraud and loss of customer confidential information. Financial institution
should implement an effective authentication to reduce fraud and make strong customer authentication a
necessary to enforce security to assist financial institutions to detect and decrease user identity thefts.
The thesis is based on research work being done towards secured transaction for mobile payment system
which comes under the domain of mobile commerce. The different types of the payment systems were
discussed in the thesis for security analysis classified into 4 types Credit card based systems, Electronic
checks & Account Transfers, Electronic cash payment systems and Micropayment systems.
6.2 Suggestions
Mobile commerce raises a number of security and privacy challenges by extending to analyze the
security requirements of mobile commerce; present a solution in which the mobile commerce security is
enhanced by using Wireless Public Key Infrastructure in spite of Simple Public key Infrastructure. An
WAP Identity Module or Wireless Identification Module Bluetooth earphone with Embedded Secure
Access Module is connected to the Smartphone by Bluetooth interface for ensuring the end to end
security ability between user and mobile commerce service providers and storing private data, give the
architecture of mobile commerce security system based on WPKI with Bluetooth earphone, design the
function of each roles in the system.
Wireless and broadband communications are the two major trends in future telecommunications
development. WAP mobile handsets and interactive digital TVs shall be able to access the internet.
Consumers will no longer be limited to using their personal computers to access the internet or purchase
merchandise online. Therefore, future electronic payment systems must work well with personal
computers, as well as mobile phones, digital TVs, and personal digital assistants.
Secondly, there are multiple electronic payment systems competing in the market. in order to increase
the penetration and popularity of an electronic payment system, alliances with other industries such as
telecommunications, utility, cable television, publishing, entertainment, financial and retail, will be
synergistic. Each of the above industries collects bills from consumers and gives coupons or discounts
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to consumers regularly. These processes could evolve into a digital format eventually. They may
become the killer application of the electronic payment systems.
Finally, the internet globalizes business transactions. Consumers in one country may make purchases
from merchants in any country of the world. Therefore, electronic payment systems in any country must
provide currency exchange for electronic payment systems in other countries. This process will require
agreements among electronic payment system providers before electronic payments can become a
common business practice in the global digital economy.
7 Bibliography
Amutha. (2016). A Study of Consumer Awareness towards e-Banking. "International Journal of

Economics & nr et nI .
Kaur, ". (2015). E-Payment System on E-Commerce in India. Karamjeet Kaur Int. Journal of Engineering
Research and Applications.
Kaur1, ". (2015). E-Payment System on E-Commerce in India . Karamjeet Kaur Int. Journal of
Engineering Research and Applications .
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M, ". (2013). "The study of E-Commerce Security Issues and . International Journal of Advanced
Research in Computer and Communication Engineering.
M., O. (2013). "Impact of Cashless . Greener Journal of Internet, Information and Communication
Systems .
Mahmoud Maqableh1, R. M. (2015). Perceived Trust and Payment Methods:. International Journal of
Communications, Network and System Sciences.
Morufu, O. (2016). E-payments adoption and Profitability performance of Deposits Money Banks in
Nigeria . IPASJ International Journal of Information Technology (IIJIT).
RACHNA, P. S. (2013). Issues and Challenges of Electronic Payment Systems. RET Academy for
International Journals of Multidisciplinary Research (RAIJMR).
RACHNA, P. S. (2013). Issues and Challenges of Electronic Payment Systems. RET Academy for
International Journals of Multidisciplinary Research (RAIJMR).
Seetharaman, D. A. (2016). E-payments: Problems and Prospects . OURNAL OF INTERNET BANKING
AND E-COMMERCE .
Sumanjeet, S. (2009). "EMERGENCE OF PAYMENT SYSTEMS IN THE AGE OF .
Global Journal of International Business Research.
Sumanjeet, S. (2009). "EMERGENCE OF PAYMENT SYSTEMS IN THE AGE OF .
Global Journal of International Business Research .
The issue of trust or lack of it was a major con sideration especially in e-payments. This was attributed to a
number of factors including malfunctioning, p. t.-p. (2015). Perceived
Trust and Payment Methods:. International Journal of Communications, Network and System
Sciences.
Upadhayay, ". (2012). Electronic Commerce and E-wallet . International Journal of Recent Research and
Review.
Wonglimpiyarat, J. (2005). E-Payment Strategies of Bank Card Innovations . JOURNAL OF INTERNET
BANKING & COMMERCE.
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8. ANNEXURE
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INDEX

Chapter Title Page NO.

5 FINDINGS & SUGGESTIONS

1.1 Introduction: Meaning and definition

Members of the Congress boycotted

lower middle and poorer income groups.

Intra-State e-Way Bill

Reverse Charge Mechanism

Goods and Services Tax Network (GSTN)

Month 2018-19 2017-18

Collections Change Collections Change

April ₹103,459 crore (US$14 billion) NA

May ₹94,016 crore (US$13 billion)[37] NA

June ₹95,610 crore (US$13 billion)[37] NA

July ₹96,483 crore (US$13 billion)[37] NA

September ₹94,442 crore (US$13 billion)[37] ₹93,029 crore (US$13 billion)

October ₹100,710 crore (US$14 billion)[37] ₹95,132 crore (US$13 billion)

November ₹97,637 crore (US$14 billion) ₹85,931 crore (US$12 billion)

December ₹94,726 crore (US$13 billion)[38] ₹83,716 crore (US$12 billion)

January ₹102,503 crore ₹88,929 crore (US$12 billion)

February ₹88,407 crore (US$12 billion)

March ₹89,264 crore (US$12 billion)

Filing of GST returns helps in

determination of tax liability of the return

filer and at the same time it also has a huge

bearing on determination of tax liability of

other persons with whom the former has

entered into taxable

1. INTRODUCTION: The term “return” ordinarily means statement of information (facts)

Inanytaxlaw,“filingofreturns”constitutesthemostimportantcomplianceprocedure which enables the

into taxable activities.

Section Matching, reversal and re-claim of input tax credit

Section Matching, reversal and re-claim of reduction in output tax liability

Section Final Return

Section Notice to return defaulters

Section Levy of late fee

Section Goods and services tax practitioners

to in section 146 [Section 2(26)].

section 34 [Section 2(37)].

section 34 [Section 2(38)].

of section 49 [Section 2(43)].

(2) of section 49 [Section 2(46)].

Non-resident taxable person means any person who occasionally undertakes

1.3 Origin and growth

1. GST is a transparent tax and also reduce number of indirect taxes.

1.5 FEATURES OF INDIRECT TAXES

1.6 What is GST Return?

How to File GST Returns Online?

There are few points to note:

 Interest and Late fee to be paid

Return Form Particulars Frequency Due Date

GSTR-1 Details of outward supplies of taxable Monthly

GSTR-2 Details of inward supplies of taxable Monthly 15th of the

Suspended goods and/or services affected next month

claiming the input tax credit.

GSTR-3 Monthly return on the basis of Monthly 20th of the

GSTR-4 Return for a taxpayer registered Quarterly 18th of the

GSTR-5 Return for a Non-Resident foreign Monthly 20th of the