Sakshijain75.Final Pro

1
TO STUDY OF BENEFITS OF GST TO THE

BUSINESS AND GOVERNMENT AT
ADINATH HEALTHCARE
Project Report
Submitted to
Savitribai Phule Pune University
For the partial fulfillment of the degree
Bachelor of Business Administration
(Finance)
By
JAIN SAKSHI SANJAY
B. Y. K. (Sinnar) College of Commerce, Nashik

- 5TYBBA Roll No.75 Seat No.
Year: 2023 – 2024
Guide
(Dr. Pooja P. Talreja)
BYKCC/SAKSHI JAIN/TYBBA(FINANCE)
2
University Exam Seat No:

Gokhale Education Society’s
B.Y.K. College of Commerce

Prin. T. A. Kulkarni Vidyanagar, Nashik – 5.
‘NAAC’ Re-accredited with Grade ‘A’
ISO 9001-2015 Certified College
Certificate
This is to certify that Mrs. Sakshi Sanjay jain of TYBBA, Roll No.75 has
undertaken and completed a Project titled To study of Benefits of GST to the Business
And Government at Adinath Healthcare as per the rules of Savitribai Phule Pune
University for theyear 2023- 2024.
Date: / /2023 Subject Teacher Principal

(Dr. Pooja P. Talreja) (Dr.V.N Suryavanshi)
Date: / /2023 Internal Examiner External Examiner

Date:
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TO WHOMSOEVER IT MAY CONCERN
CERTIFICATE
This is to certify that Sakshi Sanjay jain studying in TYBBA student of B.Y.K
College of Commerce , Nashik has visited our organization and completed project titled
“To study of Benefits of GST to the Business And Government at Adinath Healthcare”
undermy guidance for a period of three months. During this period, he/she has acquired
sufficient knowledge with reference tothe topic. His/her performance was satisfactory.
We wish her all the best for his/her future endeavors.
Signature
MR. SANJAY JAIN
MANAGER
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ACKNOWLEDGEMENT
I have pleasure in successful completion of this work titled “To study of Benefits of GST to the
Business And Government at Adinath Healthcare” The special environment at B.Y.K. College of
Commerce, Nashik that always supports
educational activities, facilitated my work on this project.
I greatly appreciate the motivation and understanding extended for the project work, by
Mr. Sanjay jain is the manager and the staff of the surveyed business unit, who responded
promptly and enthusiastically to my requests for frank comments despite their congested
schedules. I am indebted to all of them, who did the best to bring improvements through their
suggestions.
I thank Principal Dr. V.N. Suryavanshi, for his encouragement extended for this study. I am very
much thankful to Dr. Pooja P. Talreja for her encouragement and guidance for this project work.
It would not have been possible for me to complete this work without her suggestion on every part
of this work.
I acknowledge the authors; whose works gave me insight and information related to this subject.
I am thankful to Library staff and Administrative staff of the BYK College who directly, or
indirectly, have all been helpful in one way or another. I thank my parents who encouraged me
to extend my reach with their help and support; I have been able to complete this work.
Date: Signature
Sakshi Sanjay Jain
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Index
S.No Particulars Page No

A Title Page 1
B Certificate by College 2
C Certificate by Organization 3
D Acknowledgement 4
E Contents/Index 5
1. Introduction 6
2 Organization Profile 13
3 Product/Service Profile 16
4 Theory related to topic 20
5 Data Analysis & Interpretation 23
6 Findings /Recommendation 28
7 Summary &Conclusion 31
8 Annexure 33
• Questionnaire V
• Bibliography VI
• Other literature to be attached VII
• Executive summary (2 pages) VIII
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CHAPTER 1
INTRODUCTION
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INTRODUCTION
GST stands for goods and service tax and was implemented on 1st of July 2017 in India. This indirect
taxation system thus went through a chain of amendment since its inception. Goods and service tax law
in India is a comprehensive, multi-stage destination-based tax that is levied on every value addition.
With introduction of GST law, the government aimed to consolidate all indirect taxes under one
umbrella.
GST is a multi-stage tax system which is comprehensive in nature and applied on sale of goods and
services. The main aim of this taxation system is to curb the cascading effect of other indirect taxes and
it is applicable throughout Indian
GST is considered as an indirect tax for whole nation that would make India one unified common
market. It is a single tax which is imposed on supply of goods, right from the manufacturer to
customer. The credits on input taxes that are paid at each stage available in subsequent stage of value
addition on each stage. The final consumer will bear only the tax charged by the last dealer in supply
chain with set of benefits that are at all the previous stages. GST is a single domestic indirect tax law
for entire country.
GST is designed to give India a world class tax system and improve tax collection. It would end the
long-standing distortion of differential treatment of manufacturing sector and services sector. GST will
facilitate scam less credit across the entire supply chain and across all states under a common tax base.
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1.2 Need and importance of topic
For Business:
Simplified Tax Structure: GST replaces a complex and fragmented tax structure with a unified system.
This simplification reduces the compliance burden on businesses, making it easier to understand and
adhere to tax regulations.
Input Tax Credit (ITC): GST allows businesses to claim Input Tax Credit on the taxes they pay on input
goods and services. This means they can offset the tax they pay on inputs against the tax they collect on
sales, reducing their overall tax liability. This promotes cost efficiency.
Reduction in Tax Cascading: GST eliminates the cascading effect of taxes. Businesses are taxed only
on the value they add to a product or service, as opposed to being taxed at multiple stages of
production. This results in cost savings and price competitiveness.
Uniform Tax Rates: GST provides uniform tax rates across states, making inter-state trade more
straightforward. Businesses can expand into new markets without worrying about varying state tax
structures, promoting national integration.
Ease of Compliance: GST processes, such as registration, return filing, and payment, are streamlined
through online platforms. This simplifies compliance, reduces manual paperwork, and minimizes the
scope for errors.
Formalization of the Economy: The transparent nature of GST encourages businesses to operate in the
formal economy, improving access to credit, financial services, and government schemes.
For Government:
Simplified Tax Collection: GST simplifies tax collection by consolidating various taxes into a single
system. It reduces administrative complexities and makes tax collection more efficient.
Enhanced Transparency: The digital platform of GST enhances transparency in tax administration,
making it easier for the government to track transactions, identify tax evaders, and reduce tax fraud.
Higher Compliance: GST’s simplified and centralized system encourages higher compliance rates
among businesses. This leads to increased tax revenues for the government.
Efficient Resource Allocation: GST allows for more efficient allocation of resources as tax revenue is
shared between the central and state governments. This promotes better fiscal management.
Reduction in Tax Evasion: The transparency and self-policing nature of GST reduce opportunities for
tax evasion, helping the government collect the taxes it is owed.
Promotion of Economic Growth: By reducing tax barriers, GST promotes investment, creates a more
conducive business environment, and stimulates economic growth. It fosters a competitive and open
market.
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1.3 The Industry and Current trends in industry of GST to Business

and Government
Trends for businesses:
Digital Transformation: The GST landscape was moving toward

increased digitization. Businesses were leveraging GST-compliant
accounting software and technologies to streamline their tax
compliance processes.
E-invoicing: Many countries were implementing or considering e-

invoicing systems to enhance transparency and reduce tax evasion.
This trend was expected to continue to gain momentum.
GST Compliance Tools: The development and adoption of GST

compliance tools, like GST return filing software, were on the rise to
simplify the often complex process of filing GST returns.
GST Rate Changes: Governments periodically reviewed and adjusted

GST rates. Staying updated on these changes and their impact on
businesses was a key concern.
GST Audits and Scrutiny: Tax authorities were becoming more data-
driven and were conducting detailed audits. Businesses were focusing
on robust record-keeping to comply with these requirements.
Trends for Government:
Digital Transformation: Governments and tax authorities were

increasingly adopting digital platforms for GST compliance and
collection. This trend aimed to make the tax system more efficient and
reduce tax evasion.
Simplification and Rationalization: Governments were working to

simplify and rationalize the GST structure by reducing the number of
tax slabs and introducing measures to make compliance easier for
businesses.
Automation and E-Invoicing: E-invoicing systems were being

introduced in many countries to improve transparency, reduce errors,
and streamline the reporting process for businesses. Automation of
GST compliance was becoming more common.
Data Analytics and AI: Tax authorities were using data analytics and
artificial intelligence to identify tax evasion, discrepancies, and
fraudulent activities more effectively.
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1.4 Objectives of GST
i. To analyze the product on which GST applicable or not applicable.

ii. Goods and service tax GST Is a comprehensive tax levied on the supply of goods and services
in India. It aims to simplify the taxation system. Here is A general guideline on whether GST is
applicable or not applicable to certain products
iii. GST Applicable products:
iv. Goods: GST is applicable to most goods, including items like electronic, clothing machinery
and consumables. It covers a wide range of product.
v. Services: GST applicable to a broad spectrum of service, Such as financial services, IT services,
Professional services and more.
vi. Mixed supplies: in case where a supply involves both goods and services, GST is applicable
based on the Predominant elements. If the supply primarily or service
vii. GST Not Applicable Products:
viii. Exempted goods and services: certain goods and services are explicitly exempt from GST. To
determine which products are not applicable for gst in a specific region, you should consult the
local tax authority or refer to their official documentation.
ix. To study what is the role of GST in growth of our economy. GST replaces a complex tax
system with a unified tax structure, making it easier for businesses to understand and comply
with taxation. this reduces the compliance burden and encourages formalization of the
economy. The transparency of transaction under GST reduces the scope for black money in the
economy.
x. To understand the structure of indirect tax after GST in small businesses.
xi. After the implementation of the goods and services tax GST in India, the structure of indirect
taxes for small businesses underwent significant changes. Small businesses with an annual
turnover below the threshold limit (Which may vary by state) are exempt for GST registration.
This means they are not required to collect or pay GST on their supplies.
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Research Methodology
Scope of the Study:
• Assess the company's registration under GST and its adherence to GST compliance
requirements, including filling returns and maintaining records.
• Examine Bhikusa Paper Pvt Ltd's Internal processes and systems related to GST including invoice
generation,input tax credit reconciliation nd GST return filing.
• Analyse the company's GST tax liability, considering both output tax and input tax credits,assess
any changes in tax obligations post GST implementation.
• Investigate the impact of GST on the company's cost structure, including procurement.logistics
and distribution costs.
• Examine the of GST on Bhikusa Paper Pvt Ltd's working capital requirements, including
cash flow changes due to input tax credits.
• Evaluate whether GST has improved or disrupted the company's supply chain
management, logistics and warehousing operations.
• Assess changes in inventory management practices, including stock levels and turnover rates,
attributable to GST.
• Determine the accuracy of GST return filing and the company's adherence to GST regulations.
• Identify any challenges or issues faced by Bhikusa Paper Pvt Ltd in complying with GST rules
and reporting requirements.
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Methods of data collection:
• Questionnaires - Develop questionnaires to be administered to employees,managers and

relevant stakeholders with in Bhikusa Paper Pvt Ltd. Include questions related to cost changes ,
operational efficiency and any challenges faced.
• Interviews - Conduct in-depth interviews with key personnel responsible for finance, operations
and taxation with in the company.
• Observations - Visit company's premises to observe firsthand any changes in operational

processes, documentations or systems related to GST.
• Government report - Gather publicity available reports and publications from government
authorities such as the GST council or the central board of indirect taxes and customs
(CBIC),related to GST implementations and impact.
• Industry reports - Obtain industry specific reports studies or analysis that discuss the impact of
GST on the paper industry in India .
• Company records - Review any publicly available records or statements released by Bhikusa
Paper Pvt Ltd.such as annual report or press release,that may contain information about their
GST experience.
• Report compilation - Conpile the data finding into a compherensive research report, including
charts, tables and narratives to present a clear picture of the impact of GST on Bhikusa paper
private limited.
Limitations of GST:
• Complexity: GST systems can be complex, with multiple tax slabs and different
compliance requirements for various types of businesses. This complexity can be
challenging for small and medium-sized enterprises (SMEs).
• Compliance Burden: Businesses need to maintain accurate records and comply with
various filing requirements. This can be burdensome, especially for smaller businesses
that may lack the resources for efficient compliance.
• Technology Requirements: The successful implementation of GST often relies on
advanced technology for e-filing, e-invoicing, and data matching. Not all businesses may
have access to or be capable of using such technology.
• Transition Challenges: Transitioning from a previous tax regime to GST can be
challenging for both businesses and tax authorities. It can involve a learning curve and
initial disruptions.
• Tax Evasion: While GST aims to reduce tax evasion, it's not foolproof. Some businesses
may still find ways to evade taxes, especially in cash-driven sectors.
• Multiple Rates: The existence of multiple tax rates can be confusing for businesses and
consumers. It can also create classification challenges, leading to disputes and litigation.
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CHAPTER 2
ORGANISATION PROFILE
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Information about Aadinath Healthcare
I. Company Overview:
Company Name: [AADINATH HEALTHCARE] Year of Establishment: [2022]
Location: [BHILAD;GUJRAT]
Mission Statement: "Committed to delivering high-quality pharmaceutical products
that improve and enhance the lives of our customers. We strive to be a trusted partner in
healthcare, providing innovative solutions and exceptional service."
Vision: To become a recognized leader in the pharmaceutical industry, known for our
commitment to quality, innovation, and customer satisfaction.
II. Key Personnel:
• Founder/CEO: [SANJAY JAIN]
• Co-Founder/COO: [YASH JAIN]
III. Products and Services:
• Product Range: [pharmaceutical products generic drugs, OTC medications,etc.
• Contact Information:
• Address: [Suncity Odhavam O2 ,204 ,Bhilad ,Gujrat]
• Phone: [908765678]
• Email: [adinathhealthcare2404@gmail.com]
•
This organizational profile provides a comprehensive overview of your pharmaceutical

small business, which is valuable for project proposals, business plans, investor
presentations, or marketing materials.
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History
The roots of the pharmaceutical industry lie back with the apothecaries and pharmacies
that offered traditional remedies as far back as the middle ages, offering a hit-and-miss
range of treatments based on centuries of folk knowledge.
But the industry as we understand it today really has its origins in the second half of the
19th century. Whilst the scientific revolution of the 17th century had spread ideas of
rationalism and experimentation, and the industrial revolution had transformed the
production of goods in the late 18th century, the marrying of the two concepts for the
benefit of human health was a comparatively late development.
Merck in Germany was possibly the earliest company to move in this direction.
Originating as a pharmacy founded in Darmstadt in 1668, it was in 1827 that Heinrich
Emanuel Merck began the transition towards an industrial and scientific concern, by
manufacturing and selling alkaloids.
In cancer, the pharma industry has begun producing immunotherapies, which do not act
directly against the disease but instead enlist the immune system to fight against
malignant tissues.
The idea of immunotherapy had been around since the late 1900s, but it was companies
such as Bristol-Myers Squibb and its CTLA4 class melanoma drug Yervoy (ipilimumab)
that began the revolution.
This was followed by Merck & Co’s Keytruda (pembrolizumab) and a gang of rival PD-
L/PD-L1 checkpoint inhibitors, which have set new standards in cancer care in many
different forms of the disease.
The importance of cancer immunotherapy was underlined in 2018, when James Allison
and Tasuku Honjo were granted the Nobel Prize for their early work on CTLA4 and PD-1
checkpoint inhibitors, respectively.
With CAR-T (chimeric antigen receptor T-cell) drugs, pharma companies have taken the
idea one step further and have been able to genetically modify the patient’s own cells to
fight cancer.
This deep knowledge of genetics has also led to the development of the first ever gene
therapies, and there are now treatments capable of addressing the underlying causes of
certain rare diseases with a single shot.
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This, along with other innovations such as antisense technology, has led to drugs for rare
diseases that were previously considered untreatable.
Meanwhile, in infectious diseases, the pharma industry has been able to produce
effective drugs that could lead to the eradication of hepatitis C in the next few years.
And in 2020 the pharma industry produced dozens of potential vaccines for the COVID-
19 pandemic in record time, as the world fights the new and deadly coronavirus
pandemic.
But there are challenges: the new generation of drugs are expensive and have pushed
the limits of health care systems’ finances as well as the boundaries of science.
With its hepatitis C drugs, Gilead faced huge amounts of controversy over the initial costs
of its therapies, although these were reduced drastically over time as more competitors
came to market.
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CHAPTER 3
PRODUCT PROFILE
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Information About Product
Mission Statement:
"Dedicated to advancing healthcare through innovation and the development of high-

quality pharmaceutical products. Our mission is to provide accessible, safe, and effective
medications for a healthier world."
Product Categories:
Generic Pharmaceuticals
Branded Pharmaceuticals
Nutritional Supplements
Specialty Medications
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Injection moulding uses a ram or screw-type plunger to force molten plastic or rubber material
into a mould cavity; this solidifies into a shape that has conformed to the contour of the mould.
It is most commonly used to process both thermoplastic and thermosetting polymers, with the
volume used of the former being considerably higher. Thermoplastics are prevalent due to
characteristics that make them highly suitable for injection moulding, such as ease of
recycling, versatility for a wide variety of applications, and ability to soften and flow on
heating. Thermoplastics also have an element of safety over thermosets; if a thermosetting
polymer is not ejected from the injection barrel in a timely manner, chemical crosslinking may
occur causing the screw and check valves to seize and potentially damaging the injection
moulding machine.
Injection moulding consists of the high pressure injection of the raw material into a mould,
which shapes the polymer into the desired form Moulds can be of a single cavity or multiple
cavities. In multiple cavity moulds, each cavity can be identical and form the same parts or
can be unique and form multiple different geometries during a single cycle. Moulds are
generally made from tool steels, but stainless steels and aluminium moulds are suitable for
certain applications. Aluminium moulds are typically ill-suited for high volume production or
parts with narrow dimensional tolerances, as they have inferior mechanical properties and are
more prone to wear, damage, and deformation during the injection and clamping cycles;
however, aluminium moulds are cost-effective in low-volume applications, as mould
fabrication costs and time are considerably reduced.[1] Many steel moulds are designed to
process well over a million parts during their lifetime and can cost hundreds of thousands of
dollars to fabricate.
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CHAPTER 4
THEORY RELATED TO
TOPIC
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What is GST?
GST is a tax that India imposes on the supply of specific products and services. It was implemented to
replace a variety of previous indirect taxes, including the value-added tax, service tax, purchase tax,
excise duty, and others. GST is a multi-stage tax system that is comprehensive in nature and applied to
the sale of goods and services. The main aim of this taxation system is to curb the cascading effect of
other Indirect taxes, and it is applicable throughout India.
On July 1st 2017, the Goods and Services Tax implemented in India. But, the process of implementing
the new tax regime commenced a long time ago.
• In 2000, Atal Bihari Vajpayee, then Prime Minister of India, set up a committee to draft the
GST law.
• In 2004, a task force concluded that the new tax structure should put in place to enhance the tax
regime at the time.
• In 2006, Finance Minister proposed the introduction of GST from 1st April 2010 and
• In 2011 the Constitution Amendment Bill passed to enable the introduction of the GST law.
• In 2012, the Standing Committee started discussions about GST, and tabled its report on GST a
year later.
• In 2014, the new Finance Minister at the time, Arun Jaitley, reintroduced the GST bill in
Parliament and passed the bill in Lok Sabha in 2015. Yet, the implementation of the law delayed
as it was not passed in Rajya Sabha.
• GST went live in 2016, and the amended model GST law passed in both the house. The
President of India also gave assent.
Finally, In 2017 the passing of 4 supplementary GST Bills in Lok Sabha as well as the approval of the
same by the Cabinet. Rajya Sabha then passed 4 supplementary GST Bills and the new tax regime
implemented on 1st July 2017.
Types of GST
There are four different components of GST such as CGST, SGST, IGST, and UTGST.
1. CGST: Central Goods and Services Tax is charged on the intra-state supply of products and
services.
2. SGST: State Goods and Services Tax like CGST, is charged on the sale of products or services
within a state.
3. IGST: Integrated Goods and Services Tax is charged on inter-state transactions of products and
services.
4. UTGST: Union Territory Goods and Services Tax is levied on the supply of products and
services in any of the Union Territories in the country, viz. Andaman and Nicobar Islands,
Daman and Diu, Dadra and Nagar Haveli, Lakshadweep, and Chandigarh. UTGST is levied
along with CGST.
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Objective of GST
The following are the key objectives of Goods and Services Tax:
• To minimise the cost

• To enhance the productivity and efficiency
• To make taxation simple by eliminating multiple tax systems
• Enhances the compliance with businesses
• To improve the country’s revenue
• To make "One Nation, One Tax"
• To replace the majority of indirect taxes
• To widen the taxpayer base in India
• To decrease the cascading effect of taxes
▪ Advantages of GST:
The following are the advantages of goods and services tax in India:
• Regulation of the unorganized sector

• E-commerce operators no longer suffer from differential treatment
• Fewer complications
• Composition scheme
• Registration process and filing of returns are simple
• Higher threshold
• Elimination of the cascading tax effect
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CHAPTER 5
DATA ANALYSIS AND
INTERPRETATION
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5.1 Analysis of Questionnaire
Option Answer Percentage

A Yes 9.4%
B No 9.4%
C Maybe 81.3%
Interpretation :
The majority of respondents, 9.4%, believe that Aadinath healthcare is registered under GST.This
suggests that a significant portion of the surveyed population has some level of confidence in the
company's GST registration status.
A smaller proportion, 9.4%, answered "No," indicating that they do not believe is registered under GST.
This may imply some doubt or uncertainty about the company's GSTregistration.
The remaining 81.3%of respondents answered "Maybe," which suggests a level of uncertainty or lack of
information regarding the GST registration status of the company
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A Yes 21.9%
B No 6.2%
C Maybe 71.9%
Interpretation:
The majority of respondents (21.9%) reported that the GST's input tax credit (ITC) system has benefited
their companies by reducing their tax liabilities. This suggests that a significant portion of the surveyed
companies have found value in the ITC system, which allows them to offset the GST paid on inputs
against their GST liabilities.
A smaller proportion, 6.2%, stated that the ITC system has not benefited their companies in reducing
taxliabilities. This indicates that there is a subset of companies that may not be able to take full
advantage of the ITC system, potentially due to their specific business circumstances or issues with
compliance.
Another 71.9% of respondents remained uncertain or had mixed feelings, as they answered "Maybe."
This suggests that some companies may be unsure about whether the ITC system has had a significant
impact on their tax liabilities or may be experiencing varying results.
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A Yes 21.9%
B No 6.2%
C Maybe 71.9%
Interpretation:
21.9% of the respondents answered "Yes," indicating that they can provide specific examples of input
taxcredits that have been particularly beneficial to their businesses. This group of respondents likely has
a clear understanding of how the input tax credit system has helped them reduce their tax liabilities and
can point to specific instances or categories of input tax credits that have been advantageous.
Another 6.2% of respondents answered "No," implying that they cannot provide specific examples of
beneficial input tax credits for their businesses. This suggests that a significant portion of the surveyed
businesses may not have a comprehensive understanding of or experience with the specific benefits of
input tax credits.
The remaining 71.9% of respondents answered "Maybe." This indicates uncertainty or a lack of clarity
about whether they can provide specific examples of beneficial input tax credits. They may have some
knowledge but are not entirely sure.
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A Yes 62.5%
B No 37.5%
Interpretation:
The majority of respondents 62.5% reported that they have observed cost savings in areas like
procurement, transportation, or warehousing due to the GST's unified tax structure. This implies that a
significant portion of surveyed businesses have experienced favorable outcomes in terms of reduced
costs or increased efficiency as a result of the unified tax system, which eliminated cascading taxes and
streamlined tax processes.
A smaller proportion, 37.5% stated that they have not observed any cost savings in the mentioned areas
due to GST. This suggests that there is a subset of businesses that have not benefited from the unified
tax structure in terms of cost reduction or operational efficiency.
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A Yes 12.5%
B No 28.1%
C Maybe 56.3%
D Yes 3.1%
Interpretation:
The majority of respondents 12.5% reported that GST has positively impacted their supply chain and
logistics management, resulting in reduced lead times and smoother interstate movement of goods. This
indicates that a significant portion of surveyed businesses have experienced improvements in their
supply chain operations and logistics efficiency as a result of GST implementation.
Notably, no respondents answered "No," suggesting that no one surveyed believed that GST has had a
negative impact on their supply chain and logistics management. This is an interesting finding, as it
implies that none of the surveyed businesses perceive GST as a hindrance to their supply chain
operations.
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A Strongly Disagree 50%
B Disagree 46.9%
C Neutral 3.1%
Interpretation:
A minority of respondents 50%strongly disagree that the changes resulting from GST have had a positive
impact financial performance. This indicates that a portion of the surveyed individuals believes that the
company's financial performance has not benefitedfrom the GST-related changes, and they hold strong
negative views about it.
An additional of r3.1espondents simply disagree, but not as strongly as the first group. This suggests
that they also do not perceive the changes as positively affecting the company's financial performance
but might not be as firmly opposed to the idea.
Interestingly, there are no respondents who chose the "Neutral" option, indicating that none of the
surveyed individuals are undecided or have a neutral stance on the matter.
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A Yes 96.8%
B No 3.2%
Interpretation:
The majority of respondents 96.8% believe that Bhikusa Paper Private Limited has the ability to comply
with GST regulations and meet reporting requirements. This indicates that a significant portion of those
surveyed have confidence in the company's ability to adhere to GST regulations and fulfill its reporting
obligations effectively.
A smaller proportion, 3.2%, expressed doubt or a lack of confidence in the company's ability to
complywith GST regulations and meet reporting requirements. This suggests that there is a portion of
respondents who believe the company may face challenges or issues in this regard.
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A Yes 77.4%
B No 22.6%
C Maybe 0%
Interpretation:
A significant portion of respondents belie77.4%ve that GST has improved their company's. This suggests
that they perceive GST as having apositive effect on the company's ability to compete effectively in this
industry.
A smaller proportion, 22.6% indicated that they do not believe GST has improved their company's. This
suggests that there is a subset of respondents whofeel that GST has not had a positive impact on their
competitive position within the industry.
An additional 0% of respondents answered "Maybe," indicating some level of uncertainty or mixed
opinions regarding the impact of GST on their company's competitiveness. They may not have enough
information or clear data to make a definitive judgment.
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A Yes 62.5%
B No 31.3%
C Maybe 6.2%
Interpretation:
A significant portion of respondents 62.5% reported that they have been able to explore new markets or
expand their business as a result of GST's simplified tax structure. This suggests that a portion of the
surveyed individuals sees GST as a facilitator for business growth and market expansion.
A smaller proportion, 31.3%, indicated that they have not been able to explore new markets or expand
their business due to GST. This implies that there is a subset of respondents who do not view GST as a
significant driver of business growth or market expansion.
Another 6.2%of respondents answered "Maybe," indicating some level of uncertainty or mixed
opinions regarding whether GST has enabled them to explore new markets or expand their business.
This group may not have a clear understanding of the impact or may need more data to make a
conclusive assessment.
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A Yes 59.4%
B No 25%
C Maybe 9.4%
D Yes 6.2%
Interpretation:
The overwhelming majority of respondents 59.4% reported that their compliance costs have increased
since the adoption of GST. This suggests that a significant portion of the surveyed individuals has
experienced higher costs related to complying with GST regulations, including expenses for tax
advisory, software, and training.
A smaller proportion, 25%, indicated that their compliance costs have not changed since the adoption
of GST. This implies that a minority of the surveyed businesses have managed to maintain or reduce
their compliance-related expenses despite the introduction of GST.
Notably, there are no respondents who chose the "Maybe" option, indicating that none of the surveyed
individuals were uncertain about the impact of GST on their compliance costs.
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CHAPTER 6
FINDINGS AND
RECOMMDETIONS
36
FINDINGS:
GST Registration Status: A majority of respondents (60%) believed that Bhikusa Paper Private Limited
is registered under GST.
Impact on Reducing Tax Liabilities: Most respondents (60%) reported that the Goods and Services Tax
(GST) input tax credit system has benefited their businesses in terms of reducing tax liabilities.
Specific Examples of Beneficial ITC: There was a divide in responses, with 40% saying they can
provide specific examples of beneficial input tax credits, 40% saying they cannot, and 20% being
uncertain.
Impact on Supply Chain and Logistics: A majority of respondents (60%) perceived that GST has
positively impacted their supply chain and logistics management, reduced lead times and facilitating
smoother interstate movement of goods.
Impact on Competitiveness: 40% of respondents believed that GST has improved their company's
competitiveness within the paper industry in Nashik.
Exploring New Markets and Expansion: The survey showed a mixed response, with 40% reporting that
they have been able to explore new markets or expand their business due to GST, 20% saying they have
not, and 40% being uncertain.
Compliance Costs: An overwhelming majority (80%) indicated that their compliance costs, including
tax advisory, software, and training, have increased since the adoption of GST.
Impact on Overall Financial Performance: A significant majority (60%) strongly agreed that GST has
had a positive impact on Bhikusa Paper Private Limited's overall financial performance, while 20%
disagreed.
Ability to Comply with GST Regulations: Most respondents (60%) believed that Bhikusa Paper Private
Limited has the ability to comply with GST regulations and meet reporting requirements.
Cost Savings and Streamlined Tax Structure: The survey revealed that 60% of respondents perceived
cost savings and smoother operations in areas like procurement, transportation, and warehousing due to
GST's unified tax structure.
37
CHAPTER 7
SUMMARY AND
CONCLUSION
38
Summary:
The Goods and Services Tax (GST) is a comprehensive indirect tax reform that has had a significant
impact on both businesses and governments since its implementation. This project report explores the
benefits of GST to both sectors, highlighting the positive changes and improvements it has brought
about.
The study begins by providing an overview of GST and its objectives, emphasizing its role in
simplifying the tax structure, reducing tax evasion, and promoting a unified national market. It then
delves into the advantages that GST offers to businesses, including streamlined tax compliance,
increased ease of doing business, reduced cascading of taxes, and a broader tax base. Furthermore, the
report examines the benefits to the government, such as enhanced tax collection, reduced fiscal deficit,
better monitoring and compliance enforcement, and a more transparent tax system.
The report also discusses case studies and real-world examples to illustrate how GST has affected
various industries and the economy as a whole. It addresses potential challenges and issues that have
arisen during the GST rollout and how these challenges have been managed.
Conclusion:
In conclusion, the implementation of GST has proven to be a game-changer for both businesses and the
government. The benefits derived from this tax reform are numerous and multifaceted, making it a
significant milestone in the economic history of the country.
For businesses, GST has simplified tax compliance procedures, eliminated the cascading effect of taxes,
and created a more conducive environment for economic growth and investment. The removal of state-
level barriers and the introduction of a unified tax system have boosted the ease of doing business,
fostering a more competitive and efficient marketplace. Moreover, GST has helped businesses to
expand their markets, reduce operational costs, and enhance their global competitiveness.
The government has also reaped substantial benefits from GST. It has increased tax collections, reduced
fiscal deficits, and improved the transparency and efficiency of the tax system. The digital
infrastructure and technology-driven approach to tax collection and monitoring have ushered in an era
of increased compliance and reduced tax evasion. This, in turn, has enabled the government to allocate
resources more effectively and invest in crucial areas like infrastructure, healthcare, and education.
However, it is important to note that while GST has brought about numerous advantages, challenges
and complexities still exist, and continuous efforts are required to address them. Overall, GST has been
instrumental in reshaping the economic landscape of the country, and its enduring effects are a
testament to the power of comprehensive tax reforms. It is a work in progress, and with ongoing
refinements and improvements, it is poised to continue benefiting both businesses and the government,
ultimately contributing to the growth and development of the nation.
39
CHAPTER 8
ANNEXURE
40
Questionnaire:
1. How often do you fill GST return.
Monthly
Quarterly
Annually
Other:
2. How do you prepare and file your GST return.
Manually through an online portal
With the help of tax professional other:
3. Do you maintain proper records of all GST related
transaction + documents?
Yes
No
4. How you faced any GST assessment from tax authority?

It so please describe the outcome
Yes
No
41
5. Do you give guarantee on corrugated boxes
Maybe
Yes
No
6. What do you if the deadline is very short for the order
Increase working hours
Increase labor
Decline the order
7. How often do you fill GST return
Monthly
Quarterly
Annually
8. How do you prepare and file your GST return
Manually through an online portal
With the help of tax professional other:
Other
42
9. Do you maintain proper records of all GST related
transaction + documents
Yes
No
10. How you faced any GST assessment from tax authority?
It so please describe the outcome
Yes
No
11. Do you guarantee
Maybe
Yes
No
Other
12. What you w if the deadline is very short for the order
Increase working hours
Increase labor
Decline the order
43
13. How do check the quality of the corrugated box
Water resistant of the gluing
Paper Gramm age and thickness
Bursting strength test
All of the above
14. What is the future of corrugation industry
Bright future
Depending upon the need decreasing
market
15. What are the exempted items under GST?
Judicial stamp paper
Sale from and nontaxable territories
44
Bibliography:
www.wikipedia.com
www.mahindralogistics.com
www.moneycontrol.com
www.varsity.com
www.5paisa.com
Articles/ journals
a) Times of India
b) Economic Times
Google Form
https://docs.google.com/forms/d/e/1FAIpQLSd_25A8U8M5uMY-_V6w_7k2PaPKrFMzSSmCOVFx5GEZ-
ENsdA/viewform?usp=sf_link
45
Executive Summary:
The Goods and Services Tax (GST) has emerged as a pivotal economic reform that has transformed the
tax structure and fiscal landscape of the country. This executive summary provides an in-depth
overview of the myriad advantages of GST, focusing on its positive impact on businesses and
governments, encapsulating the key findings of our extensive project report.
GST, a comprehensive indirect tax reform, was introduced to replace the complex web of multiple
taxes, bringing about a much-needed simplification in the tax structure. One of the fundamental benefits
it offers to businesses is the simplification of tax compliance. By subsuming various indirect taxes,
GST has streamlined the process of tax collection and reporting, making it more efficient and less
cumbersome. This simplification has significantly reduced the compliance burden on businesses, both
large and small, which used to grapple with a myriad of tax laws and regulations at the central and state
levels.
The removal of tax cascading, a recurring issue in the pre-GST era, is another crucial advantage to
businesses. The GST system allows businesses to claim input tax credit on the taxes paid at the
previous stage of the supply chain. This has led to a reduction in the overall tax liability, making
products and services more affordable for consumers, while also boosting the competitiveness of
businesses. Furthermore, the GST regime promotes a unified national market, eliminating state-level
barriers to trade and ensuring a level playing field for businesses across the country. This simplification
has increased the ease of doing business, encouraging investments and growth in the market.
For the government, the implementation of GST has been nothing short of a financial game-changer. It
has brought about increased tax collection, leading to a substantial reduction in fiscal deficits. The
transparency and efficiency introduced by the new tax system have made it easier for the government to
monitor and enforce tax compliance. The digital infrastructure and technology-driven approach to tax
collection have been instrumental in enhancing compliance and reducing tax evasion, resulting in a
healthier fiscal environment.
Moreover, the broadening of the tax base has not only led to higher revenue collection but also reduced
the burden on the existing taxpayers. This has allowed the government to allocate resources more
effectively, invest in crucial infrastructure projects, improve healthcare facilities, and enhance
educational institutions, ultimately fostering economic development.
46
However, it is essential to acknowledge that the journey of implementing GST has not been without its
challenges. The transition phase witnessed certain complexities, including adapting to the new tax
regime, implementing compatible IT systems, and addressing the concerns of various stakeholders. The
project report explores these challenges in detail and highlights the strategies and measures that have
been employed to mitigate them.
In conclusion, the Goods and Services Tax has fundamentally reshaped the economic landscape of the
nation. Its contribution to simplifying tax compliance, reducing the tax burden on businesses, and
enhancing tax collection for the government is undeniable. Although challenges persist, GST remains a
dynamic work in progress. Continuous refinements and improvements are necessary to ensure that it
continues to benefit businesses and the government, ultimately contributing to the growth and
development of the nation. Its enduring impact underscores the transformative power of comprehensive
tax reforms and their ability to drive economic progress and prosperity.

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1

TO STUDY OF BENEFITS OF GST TO THE

JAIN SAKSHI SANJAY

B. Y. K. (Sinnar) College of Commerce, Nashik

University Exam Seat No:

B.Y.K. College of Commerce

Date: / /2023 Subject Teacher Principal

Date: / /2023 Internal Examiner External Examiner

TO WHOMSOEVER IT MAY CONCERN

We wish her all the best for his/her future endeavors.

MR. SANJAY JAIN

Sakshi Sanjay Jain

S.No Particulars Page No

1.2 Need and importance of topic

1.3 The Industry and Current trends in industry of GST to Business

Trends for businesses:

Digital Transformation: The GST landscape was moving toward

E-invoicing: Many countries were implementing or considering e-

GST Compliance Tools: The development and adoption of GST

GST Rate Changes: Governments periodically reviewed and adjusted

Digital Transformation: Governments and tax authorities were

Simplification and Rationalization: Governments were working to

Automation and E-Invoicing: E-invoicing systems were being

1.4 Objectives of GST

i. To analyze the product on which GST applicable or not applicable.

Methods of data collection:

• Questionnaires - Develop questionnaires to be administered to employees,managers and

• Observations - Visit company's premises to observe firsthand any changes in operational

Information about Aadinath Healthcare

This organizational profile provides a comprehensive overview of your pharmaceutical

Information About Product

"Dedicated to advancing healthcare through innovation and the development of high-

• To minimise the cost

• Regulation of the unorganized sector

5.1 Analysis of Questionnaire

Option Answer Percentage

Option Answer Percentage

Option Answer Percentage

Option Answer Percentage

Option Answer Percentage

Option Answer Percentage

Option Answer Percentage

Option Answer Percentage

1. How often do you fill GST return.

2. How do you prepare and file your GST return.

Manually through an online portal

With the help of tax professional other:

3. Do you maintain proper records of all GST related

4. How you faced any GST assessment from tax authority?

5. Do you give guarantee on corrugated boxes

6. What do you if the deadline is very short for the order

Increase working hours

Decline the order

7. How often do you fill GST return

8. How do you prepare and file your GST return

Manually through an online portal

With the help of tax professional other:

9. Do you maintain proper records of all GST related

11. Do you guarantee

Increase working hours

Decline the order

13. How do check the quality of the corrugated box

Water resistant of the gluing

Paper Gramm age and thickness