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Customers Perception Towards GST (Goods & Service Tax)
Accounting and Finance (University of Calcutta)
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PROJECT REPORT
(Submitted for the Degree of B.Com. Honours in Accounting & Finance under the
University of Calcutta)
TITLE OF THE PROJECT
Customers Perception Towards GST (Goods & Service Tax)
SUBMITTED BY
Name of the Candidate: Shuvam Mondal

C.U. Registration No: 043-1114-0407-18
Name of the College: Heramba Chandra College
College Roll No: 184444
C.U. Roll No: 181043-21-0350
SUPERVISED BY
Name of the Supervisor: Priyanka Banik

MONTH & YEAR OF SUBMISSION
June 2021
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Annexure- 1A
SUPERVISOR'S CERTIFICATE
This is to certify that Mr. Shuvam Mondal a student of B.Com. Honours in Accounting &
Finance of HERAMBA CHANDRA COLLEGE under the University of Calcutta has
worked under my supervision and guidance for his Project Work and prepared a Project
Report with the title “CUSTOMERS PERCEPTION TOWARDS GST (GOODS &
SERVICE TAX)”.
The project report, which he is submitting, is his genuine and original work to the best of my
knowledge.
---------------------------------------------------------
Signature
Place: Kolkata Name: Prof. Priyanka Banik

Date: Designation: Faculty of Commerce
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Annexure - 1B
STUDENT'S DECLARATION
I hereby declare that the Project Work with the title “CUSTOMERS PERCEPTION
TOWARDS GST (GOODS & SERVICE TAX)” submitted by me for the partial fulfillment
of the degree of B.Com. Honours in Accounting & Finance under the University of Calcutta
is my original work and has not been submitted earlier to any other University /Institution for
the fulfilment of the requirement for any course of study.
I also declare that no chapter of this manuscript in whole or in part has been incorporated in
this report from any earlier work done by others or by me. However, extracts of any literature
which has been used for this report has been duly acknowledged providing details of such
literature in the references.
-----------------------------------------------------
Signature
Name: Shuvam Mondal

Address: Santoshpur Mahestala (M) South 24 Parganas
Kolkata - 700142
C.U. Registration No: 043-1114-0407-18
C.U. Roll No: 181043-21-0350
Place: Kolkata
Date:
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ACKNOWLEDGEMENT
I being a benefited student of HERAMBA CHANDRA COLLEGE, affiliated Under the

University of Calcutta, would like to take this opportunity to Express my profound gratitude
and regards to my supervisor, and to the entire department of Commerce for their exemplary
guidance, monitoring and constant encouragement throughout the course of the completion of
the project “CUSTOMERS PERCEPTION TOWARDS GST (GOODS & SERVICE TAX)”.
The guidance given by them time to time shall carry me a long way in the journey of my
career on which I am about to embark. I would also like to Express my thankfulness to the
college and university committee for providing me with the opportunity to work on this
project, and for their cordial support, valuable information and guidance, which helped me in
completing this task through its various stages.
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TABLE OF CONTENTS
SERIAL NO CONTENTS PAGE NO

CHAPTER 1 INTRODUCTION 1-13
1.1 Background of the study 2-3

1.2 Literature Review 4-9
1.3 Objectives of the GST 10
1.4 Research Methodology 11
1.5 Limitations of the study 12
1.6 Chapter Planning 13
CHAPTER 2 CONCEPTUAL FRAMEWORK 14-27
2.1 Introduction 15-16

2.2 History of Goods and Service Tax 17-18
2.3 Features of Goods and Service Tax 19
2.4 Necessity of Goods and Service Tax 20-21
2.5 Advantages of Goods and Service Tax 22
2.6 Disadvantages of Goods and Service Tax 23-24
2.7 Limitations of Goods and Service Tax 25
2.8 Importance of Goods and Service Tax 26-27
CHAPTER 3 DATA ANALYSIS & INTERPRETATION 28-50
CHAPTER 4 CONCLUSION AND RECOMMENDATION 51-56
4.1 Conclusion 52-53

4.2 Recommendation of GST 54-56
BIBLIOGRAPHY / REFERENCES 57
QUESTIONNAIRE 58-61
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CHAPTER1
INTRODUCTION
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1.1- BACKGROUND OF THE STUDY: -
GST is known as the Goods and Services Tax. It is an indirect tax which has replaced many
indirect taxes in India such as the excise duty, VAT, services tax, etc. The Goods and Service
Tax Act was passed in the Parliament on 29th March 2017 and came into effect on 1st July
2017.
In other words, Goods and Service Tax (GST) is levied on the supply of goods and services.
Goods and Services Tax Law in India is a comprehensive, multi-stage, destination-based tax
that is levied on every value addition. GST is a single domestic indirect tax law for the entire
country.
In keeping with the federal structure of India, it is proposed that the GST will be levied
concurrently by the central government (CGST) and the state government (SGST). It is
expected that the base and other essential design features would be common between
CGST and SGST for individual states. The inter-state supplies within India would attract an
integrated GST(IGST), which is the aggregate of CGST and SGST of the destination state.
Goods and services are divided into five different tax slabs for collection of tax - 0%, 5%,
12%, 18% and 28%. However, petroleum products, alcoholic drinks, and electricity are not
taxed under GST and instead are taxed separately by the individual state governments, as
per the previous tax system. 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.
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The Taxation policy in ancient India was highly logical and based on the principles of
economic theory and equity in comparison with the current taxation policies of the
government. The tax system of our ancients was quite reasonable, rational, convenient,
elastic, appealing and based on the principles of maximum welfare with some exceptions. A
new era has been started in the indirect taxation system of our country.
It’s a tax system which has converted entire country in integrated market. “One Tax One
Nation” is the motto of this indirect tax system. GST is a destination and consumption based
indirect tax which is imposed over the supply of goods and services directly from the
manufacturer to the consumer. Thus, the final consumer will bear only the GST charged by
the last dealer in the supply chain, with set-off benefits at all the previous stages. GST was
first discussed on 2003 after the suggestions of Kelkar task force under the chairmanship of
Vijay Kelkar. A proposal to introduce national level GST by April 2010 was made on the
budget speech of year 2006- 07. After several efforts and discussion, a 122 and
constitutional amendment bill for GST was brought into parliament, following which 101st
Constitutional (Amendment) Act 2016 was enacted and passed from Lok Sabha (House of
the people) on 3 august 2016 and on 8th august 2016 from Rajya Sabha (Council of States).
It was assented by Honorable president of India on 8th September 2016

and finally, it commenced its journey with its introduction in the country on 1st July 2016.
The introduction of GST in India was mainly due to the cascading effect that prevailed in the
earlier taxation system of our country. The Indian Goods and services tax subsume about 17
indirect taxes levied by central and state government as well as 23 cess.
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1.2- LITERATURE REVIEW: -
SL. TITLE OF THE NAME OF THE FINDING

NO YEAR PAPER AUTHORS
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1. 2019 On the basis Manoj Agarwal In his study, “Impact of Goods and
Tax Reforms Services Tax on Indian Economy”, it
was concluded that the much-needed
stimulus for economic growth in India
was expected to come about in
reshaping the current basis of indirect
taxation towards free movement of
goods and services, and that the
cascading effect of taxes is expected to
be removed. Not only in the countries
but also, in nearby countries and
developing economies in the world,
GST expectations are high. It will
become good and simple, only when
the entire country works as whole
towards making it successful. The new
tax system has many impacts on the
economy and will allow companies to
prosper.
The effect on the Indian economy of
the Goods and Service Tax (GST) and
why the need to shift the taxation
system from the current tax structure
to GST model is discussed in “Impact of
GST on Indian Economy-Opportunities
and challenges”. GST provides a broad
income tax credit which includes nearly
all indirect taxes at state and local
rates. An integrated GST framework
will be introduced in India to efficiently
allocate input factors that will lead to
rises in GDP and exports. The new
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policy change in the tax system of this

great nature will not be a cake forever
one, but the new structure, which is
modern, cohesive and open, will
attract foreign investment and
numerous other advantages. It will
improve the competitiveness of the
Indian industry and increase the base
for taxpayers, which is the
responsibility of the non-organized
business. Many industries / sectors will
profit personally, others will lose out,
like individuals and small traders.
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2. 2020 On the basis of Tax Ajay Sharma The researcher notes in his report that
Knowledge this indirect tax structure is modified.
However, with this new tax system,
people do not have much knowledge
and understanding about GST. In terms
of GST shift, the Small Business
Persons (SBP) were the most affected
group. The researcher has observed
GST knowledge among SBPs and their
perceptions. This research focuses on
the understanding of the SBPs of this
new tax structure. The awareness was
initially small, but the level of
awareness also increased among SBP's
as the time went by. Few SBPs have
found the program simple and few
make efforts to familiarize themselves
with the new system.
There is no internet connection in
many areas, which means that work is
not done in time? All this is adding up
to the problems of the SBPs’. The
government will attempt to get people
to know GST more. The GST was seen
as straightforward, but enforcement
costs give SBPs a burden.
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3. 2021 Tax Administration Sourav Das He has discussed the impacts of GST
reforms on efficiency, growth, and
redistribution of income in India. This
paper is aimed mainly at evaluating the
micro and macro effect of GST with a
sophisticated mainframe model of the
overall equilibrium of the Indian
economy. The paper is a complex CGE
model based on the Indian economy's
micro stable input-output statistics to
analyse the impacts of GST on resource
allocation capacity in productive
sectors, income development, and
employment over time, and income
redistribution among households.
While GST reforms would increase the
competitiveness in goods and services
development across India's major
economic sectors by removing
inequalities in goods and services
generation and delivery, clarity in
taxation would help to sustain a
growth rate in over seven percent for
exports, investments and physical
resources.
The results of GST reforms are
extremely positive for the Indian
economy on production, capital
formation, expenditure, consumption
and employment.
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Since, the GST reforms, tax allocation is

now fairer. The economic well-being
and income of households were 8%
higher than the average.
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1.3 - OBJECTIVES OF THE GST: -
i. The foremost objective of GST is to create a common market with uniform tax rate in India.
(One Nation, One Tax, One Market)
ii. To eliminate the cascading effect of taxes, GST allows set-off of prior taxes for the same
transactions as input tax credit.
iii. To boost Indian exports, the GST already collected on the inputs will be refunded and
thus there will be no tax on all exports.
iv. To increase the tax base by bringing a greater number of tax payers and increase tax
revenue.
v. To simplify tax return procedures through common forms and avoidance of visiting tax
departments.
vi. To provide online facilities for payment of taxes and submission of forms. Goods and
Services Network (GSTN), a robust Information Technology system has been created for the
operation of GST.
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1.4- RESEARCH METHODOLOGY: -
Research Methodology is away to exploratory research based on historical secondary data

on the theme and review of the related literature. The research is mainly based on
secondary data such as Books, Acts, reports of the Government of India official statistics on
levy and collection of Service Tax Vis-a-vis other direct and indirect taxes of the Union
Government of India, various magazines, and newspapers published articles etc. and
electronic media like web sites, newsletters. Researcher initially thought to collect part of
the primary data from a few tax authorities, practitioners, and tax payers who were to be
interviewed for noting their expert opinion on complications of Service Tax. However, this
couldn’t be realized because these respondents were not open and free to reveal the facts
either on account of ‘official secretes’ and unwillingness of the practicing consultants and
tax payers to reveal the true facts. As a result, this work is now entirely based on analysis of
secondary data collected through official sources.
Simple statistical tool like mean, ratios and percentages have been using to
analyses statistical data on levy and collection of Service Tax in India.
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1.5- LIMITATIONS OF THE STUDY: -
1. The study is confined to the city of Kolkata in the state of West Bengal.
2. Issues with sample and selections.
3. In the study, the conclusive decision largely depends on the adequacy of the data. The
sample study consists of 50 respondents and there has been an assumption that the
feedback received from the population is true.
4. This study is based on primary data.
5. Limited access to data.
6. Time constraints.
7. Conflicts arising from cultural bias and other personal issues.
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1.6- CHAPTER PLANNING: -
The study is divided into 4 chapter and references:
Chapter 1: Introduction
Chapter 2: Conceptual Framework
Chapter 3: Data Collection and Analysis
Chapter 4: Conclusion and Recommendation
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CHAPTER-2
CONCEPTUAL FRAMEWORK
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2.1- INTRODUCTION: -
GST is the most ambitious and remarkable indirect tax reform in India’s post-Independence
history. Its objective is to levy a single national uniform tax across India on all goods and
services. GST has replaced a number of Central and State taxes, made India more of a
national integrated market, and brought more producers into the tax net. By improving
efficiency, it can add substantially to growth as well as government finances. Implementing
a new tax, encompassing both goods and services, by the Centre and the States in a large
and complex federal system, is perhaps unprecedented in modern global tax history.
GST is a tax on goods and services with comprehensive and continuous chain of set-off
benefits up to the retailer level. It is essentially a tax only on value addition at each stage,
and a supplier at each stage is permitted to set-off, through a tax credit mechanism, the GST
paid on the purchase of goods and services. Ultimately, the burden of GST is borne by the
end-user (i.e., final consumer) of the commodity/service.
With the introduction of GST, a continuous chain of set-off from the original producer’s
point and service provider’s point up to the retailer’s level has been established, eliminating
the burden of all cascading or pyramiding effects of an indirect tax system. This is the
essence of GST. GST taxes only the final consumer. Hence the cascading of taxes (tax-on-tax)
is avoided and production costs are cut down.
As already noted, prior to the introduction of GST, the indirect tax system of India suffered
from various limitations. There was a burden of tax-on-tax in the pre-GST system of Central
excise duty and the sales tax system of the States. GST has taken under its wings a profusion
of indirect taxes of the Centre and the States. It has integrated taxes on goods and services
for set-off relief. Further, it has also captured certain value additions in the distributive
trade. There is now a continuous chain of set-offs which would eliminate the burden of all
cascading effects.
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Presently, services sector in India constitutes a tax base with vast potential which has not
been exploited as yet. It is in this context that GST is justified as it has subsumed under it
almost all the services for the purpose of taxation. Since major Central and State indirect
taxes have got subsumed under GST, the multiplicity of taxes has been substantially reduced
which, in turn, would decrease the operating costs of the country’s tax system. The
uniformity in tax rates and procedures across the country will go a long way in reducing
compliance costs.
In a nutshell, GST is a comprehensive indirect tax levy on manufacture, sale and

consumption of goods as well as services at the national level. GST is an indirect tax for the
whole of India to make it one unified common market. GST is designed to give India a world
class tax system and improve tax collections. It would end the long-standing distortions of
differential treatment of manufacturing sector and services sector. GST will facilitate
seamless credit across the entire supply chain and across all States under a common tax
base.
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2.2- HISTORY OF GOODS AND SERVICE TAX: -
The idea of a Goods and Services Tax (GST) for India was first mooted sixteen
years back, during the Prime Minister ship of Shri Atal Bihari Vajpayee.
Thereafter, on 28th February, 2006, the then Union Finance Minister in his
Budget for 2006-07 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 the GST. Joint Working Groups of officials having
representatives of the States as well as the Centre were set up to examine
various aspects of the 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 GST in November, 2009. The FDP spelled out
the features of the proposed GST and has formed the basis for the present GST
laws and rules.
In March 2011, Constitution (115th Amendment) Bill, 2011 was introduced in

the Lok Sabha to enable levy of GST. However, due to lack of political consensus,
the Bill lapsed after the dissolution of 15th Lok Sabha in August 2013.
On 19th December, 2014, The Constitution (122nd Amendment) Bill 2014 was
introduced in the Lok Sabha and was passed by Lok Sabha in May 2015. The Bill
was taken up in Rajya Sabha and was referred to the Joint Committee of the
Rajya Sabha and the Lok Sabha on 14th May, 2015. The Select Committee
submitted its report on 22nd July, 2015. Thereafter, the Constitutional
Amendment Bill was moved on 1st August 2016 based on political consensus.
The Bill was passed by the Rajya Sabha on 3rd August 2016 and by the Lok
Sabha on 8th August 2016. After ratification by required number of State
legislatures and assent of the President, the Constitutional amendment was
notified as Constitution (101st Amendment) Act 2016 on 8th September, 2016.
The Constitutional amendment paved way for introduction of Goods and Services
Tax in India.
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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 29th March, 2017. The Rajya
Sabha passed these Bills on 6th April, 2017 and were then enacted as Acts on
12th April, 2017. To 2015. 6 on 08.09.2016.
Thereafter, State Legislatures of different States have passed respective State

Goods and Services Tax Bills. After the enactment of various GST laws, GST was
launched with effect from 1st July 2017 by Shri. Narendra Modi, Hon'ble Prime
Minister of India in the presence of Shri. Pranab Mukherjee, the then President
of India in a mid-night function at the Central Hall of Parliament of India.
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2.3- FEATURES OF GOODS AND SERVICE TAX: -
The features of GST are as under:
(i) GST is applicable on “supply” of goods or services as against the earlier concept of tax on
the manufacture of goods or on sale of goods or on provision of services.
(ii) GST is based on the principle of destination-based consumption taxation as against the
earlier principle of origin-based taxation.
(iii) It is a dual GST with the Centre and the States simultaneously levying it on a common
base. The GST to be levied by the Centre is called Central GST (CGST) and that is levied by
the States [including Union territories with legislature] is called State GST (SGST). Union
territories without legislature levy Union Territory GST (UTGST).
(iv) An Integrated GST (IGST) is levied on inter-State supply (including stock transfers) of
goods or services. This is collected by the Centre so that the credit chain is not disrupted.
(v) Import of goods is treated as inter-State supplies and is subject to IGST in addition to the
applicable customs duties.
(vi) Import of services is treated as inter-State supplies and is subject to IGST. (vii) CGST,
SGST /UTGST & IGST is levied at rates to be mutually agreed upon by the Centre and the
States under the aegis of the GSTC.
(vii) GST will apply to all goods and services except Alcohol for human consumption.
(ix) GST on five specified petroleum products (Crude, Petrol, Diesel, Aviation Turbine Fuel &
Natural gas) would be applicable from a date to be recommended by the GSTC.
(x) Tobacco and tobacco products would be subject to GST. In addition, the Centre would
continue to levy Central Excise duty.
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2.4- NECESSITY OF GOODS AND SERVICE TAX: -
Imposing several taxes on goods and services can lead to high cost and inefficient tax
structure which can subject to shirking and revenue disclosures.
The need for GST in Indian Taxation System will add value at each stage and will set off
the rates both at state and at central level. Introducing GST, will increase the efficiency
of taxation, improves the economic growth and it will bring whole nation to one national
market.
Following is some of the points that can easily explain the need for GST: -
1. The introduction of CENVAT removed to a great extent cascading burden by expanding

the coverage of credit for all inputs, including capital goods. CENVAT scheme later also
allowed credit of services and the basket of inputs, capital goods and input services could be
used for payment of both central excise duty and service tax. Similarly, the introduction of
VAT in the States has removed the cascading effect by giving set-off for tax paid on inputs as
well as tax paid one previous purchase and has again been an improvement over the
previous sales tax regime.
2. But both the CENVAT and the State VAT have certain incompleteness. The
incompleteness in CENVAT is that it has yet not been extended to include chain of value
addition in the distributive trade below the stage of production. Similarly, in the State-level
VAT, CENVAT load on the goods has not yet been removed and the cascading effect of that
part of tax burden has remained unrelieved. Moreover, there are several taxes in the States,
such as, Luxury Tax, Entertainment Tax, etc. Which have still not been subsumed in the VAT.
Further, there has also not been any integration of VAT on goods with tax on services at the
State level with removal of cascading effect of service tax.
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3. GST was another source of distortion in terms of its cascading nature. It was also, against
one of the basic principles of consumption taxes that tax should accrue to the jurisdiction
where consumption takes place. Despite remarkable harmonization in VAT regimes under
the auspices of the EC, the national market was fragmented with too many obstacles in free
movement of goods necessitated by procedural requirement under VAT and CST.
4. In the constitutional scheme, taxation powers on goods were with Central Government
but it was limited up to the stage of manufacture and production while States have powers
to tax sale and purchase of goods. Centre had powers to tax services and States also had
powers to tax certain services specified in clause (29A) of Article 366 of the Constitution.
This sort of division of taxing powers created a grey zone which led to legal disputes.
Determination of what constitutes a goods or service is difficult because in modern complex
system of production, a product is normally a mixture of goods and services.
5. As can be seen from the previous paragraphs, India moved towards value added taxation
both at Central and State level, and this process was complete by 2005. Integration of
Central VAT and State VAT therefore is nothing but an inevitable consequence of the reform
process. The Constitution of India envisages a federal nature of power bestowed upon both
Union and States in the Constitution itself. As a natural corollary of this, any unification of
the taxation system required a dual GST, levied and collected both by the Union and the
States.
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2.5- ADVANTAGES OF GOODS AND SERVICE TAX: -
(i) Will help to create a unified common national market for India, giving a boost to foreign
investment and “Make in India” campaign;
(ii) Will prevent cascading of taxes as Input Tax Credit will be available across goods and
services at every stage of supply;
(iii) Harmonization of laws, procedures and rates of tax;
(iv) It will boost export and manufacturing activity, generate more employment and thus
increase GDP with gainful employment leading to substantive economic growth;
(v) Ultimately it will help in poverty eradication by generating more employment and more
financial resources;
(vi) More efficient neutralization of taxes especially for exports thereby making our products
more competitive in the international market and give boost to Indian Exports;
(vii) Improve the overall investment climate in the country which will naturally benefit the
development in the states;
(viii) Uniform SGST and IGST rates will reduce the incentive for evasion by eliminating rate
arbitrage between neighbouring States and that between intra and inter-State sales;
(ix) Average tax burden on companies is likely to come down which is expected to reduce
prices and lower prices mean more consumption, which in turn means more production
thereby helping in the growth of the industries. This will create India as a “Manufacturing
hub”.
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2.6- DISADVANTAGES OF GOODS AND SERVICE TAX: -
(i) Increases costs due to software purchase:

Businesses are required to update their existing accounting software to GST software to
continue business operations & be GST compliant. This leads to increased cost of software
purchase and training company personnel to efficiently utilize the new billing software.
(ii) Higher Tax Burden of SMEs:

Earlier Small and Medium Enterprises were required to pay excise duty only on a turnover
exceeding INR 1.5 Crore every financial year. At present, businesses with a turnover
exceeding INR 40 Lacs are liable to pay GST under the GST administration.
(iii) Increase Burden of Compliance:

The new GST regime states that companies have to mandatorily get GST registered in all
the states they operate their businesses in. This leads to an unnecessary burden on
businesses for tedious paperwork processes and compliance.
(iv) No GST charged on petroleum products:

The GST Council excludes petrol and petroleum products under its administration. These
products attract other taxes such as central excise duty and value added tax (VAT) levied by
states.
(v) GST is an online taxation system:

From GST Registration to filing GST returns, the Government has made online provision for
GST. While businesses are gradually accelerating digital solutions, small companies are not
well-versed with evolving and advanced technologies and solutions. It can be challenging for
many businesses to adopt a GST structure.
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(vi) GST was implemented in the middle of the financial year:
As GST came into effect on July 1, 2017, businesses followed the old GST regime for a few
months. Businesses may find it hard to adjust to the new GST structure, and some of them
are operational following tax systems in parallel, leading to compliance issues.
(vii) IT Infrastructure:
Being an IT-driven system, GST requires businesses to adopt well-equipped infrastructure
and modern tax technology. The e-governance model has been implemented by only a few
states as many businesses need to upgrade their IT infrastructure. A lot of states use the
manual VAT returns system in their business operations that list for a major demerit of GST.
(viii) Training of Tax officers:
Inadequate training is provided to the Government officers for practical usage of GST
software and systems. This is considered to be one of the disadvantages of GST.
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2.7- LIMITATIONS OF GOODS AND SERVICE TAX: -
1; Increased costs of software purchase that can assist in GST filling process leads to higher
operational costs for many businesses.
2; GST has given rise to complexity for many business owners across the nation SMEs with
a total income of Rs 75 lakh could avail the composition scheme, pay a mere 1% tax on
turnover and abide by less compliances, however the tradeoff is that they cannot claim credit
for input tax.
3; GST has received criticism for being called a “Disability Tax” as it now taxes articles such
as braille paper, wheelchairs, hearing aid etc.
4; The complexities in taxation for products have seen manufactures suspend their reward
programs, which are sure to affect consumers.
5; The GST transaction fees within the financial sector have become more expensive
increasing from 15% to 18%.
6; With GST, insurance premiums have become more expensive.
7; The impact of GST on the real estate market caused an 8% increase on real estate price
leading to 12% fall in demand closely after it was brought into action in june,2017. This
however, may be a short- term trend.
8; Petrol is not under GST, which goes against the ideas of unification of commodities.
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2.8- IMPORTANCE OF GOODS AND SERVICE TAX: -
GST will overcome various issues of development via greater interactions between VAT/GST
systems along with overcoming the potential risks of double taxation and unintended non-
taxation systems. GST will lay a strong foundation of collecting tax at early stage of value
addition. Every business/tax payer would be a part of controlling and collecting the tax and
remitting the proportion of tax corresponding to its margin. GST will thereby flow through
the business to tax supplies made to the final consumer.
GST Reforms will play a crucial role for trade, government, and consumers in the following
manner:
(i) Trade: - In order to harmonize trade and bring significant reforms to boost up
development, GST will act as a stepping stone for the following parameters: (a) multiplicity
of taxes will be reduced, (b) tax neutrality, especially for exports goods, (c) development of
one nation or one common economic market, (d) simpler tax with fewer rates and
exemptions, (e) effectiveness in reducing cost for domestic industries.
(ii) The Government: - GST promises a lot for transparent working system for the
government in the following manner: (a) easy and simple taxation system - one common tax
across the country, (b) tax base broadening, (c) great improvements towards collections of
revenues, (d) resource utilization would be more effective, (e) investments out of savings by
consumers - due to mitigation of cascading effect, which contributes to increase in
availability of funds out of savings of consumer - which may be used for development.
(iii) The Consumer: - For a normal Indian citizen, GST promises a lot in terms of better
taxation system as follows:
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(a) reduction in the cost of goods and services due to significant elimination of cascading
effect on taxes,
(b) increase in household income and purchasing power,
(c) increase in savings of common man,
(d) high increase towards investment potential.
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CHAPTER-3
DATA ANALYSIS & INTERPRETATION
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Data Analysis: -
The data collected various respondents have to analysis for the drawing conclusion. So, in
this chapter efforts have been made to analysis and interpret the collective data towards
perception of customers of Dist. South 24 Parganas on “Goods and Service Tax” through
questionnaire.
First of all, the collected data have been presented in tabular from and there after it is
analysed with the help of percentage and Pie Charts.
A brief description of analysis and interpretation given below:
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In Table No. 3.1: - An attempt has been made of classify the respondents on the basis of
Age factor.
Table No. 3.1.
Classification of respondents on the basis of Age
Sr. No Age Group No. of Respondents Percentage (%)
1 Below 25 5 10%
2 25-40 16 32%
3 Above 40 29 58%
Total 50 100%
Sources: - Data Collected from Primary Data through Questionnaire Method.
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Classification of respondents on the basis of Age
Figure 3.1
Interpretation: -
From the above table and figure it is clear that majority of respondents that is 58% are
above 40 years where as 32% belongs to 25-40 years are and rest of 10% are below 25 years.
Thus, it can be concluded that there are majority of the respondents are above 40 years.
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qualification factor. The qualification has been divided in to Three Categories- Graduation,
Post-Graduation and Any other qualification. The description of this as below:
Table No. 3.2.
Classification of respondents on the basis of Qualification
Sr. No Qualification No. of Respondents Percentage (%)

1 Graduation 19 38%
2 Post-Graduation 11 22%
3 Any other Metric, 20 40%
Secondary and PHD
also
Total 50 100%
Sources: - Data Collected from Primary Data through Questionnaire Method.
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Classification of respondents on the basis of Qualification
Figure3.2
Interpretation: -
From the above table and figure it is depicted that majority of respondents 40% are related
to high and low back ground that means other areas, where as 38% are Graduation and 22%
are Post Graduation. Thus, it can be concluded that majority of the respondents are
concerned Graduation and other Qualification.
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Married and Un Married Status.
Table No. 3.3.
Classification of respondents on the basis of Status
Sr. No Status No. of Respondents Percentage (%)

1 Married 43 86%
2 Un Married 7 14%
Total 50 100%
Sources: - Data collected from Primary Data through Questionnaire Method.
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Classification of respondents on the basis of Status
Status
Figure3.3
Interpretation: -
From the above table and figure it is clear that majority of respondents are Married 86% and
rest of the 14% are Un Married. Therefore, according to this observation maximum
respondents are married.
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In Table No. 3.4: - Classify the respondents on the basis of Gender. The Gender are Male
and Female. The description of this as below:
Table No. 3.4.
Classification of respondents on the basis of Gender
Sr. No Gender No. of Respondents Percentage (%)

1 Male 45 90%
2 Female 5 10%
Total 50 100%
Sources: - Data collected from Primary Sources through Questionnaire Method.
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Classification of respondents on the basis of Gender
Gender
Figure3.4
Interpretation: -
From the above table and figures it is show that majority of respondents are Males 90% and
Females are 10%. Thus, it can be concluded Males are show in high interest in business
activities.
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their Occupation or Category basis. The description of this as below:
Table No. 3.5.
Classification of respondents on the basis of Occupation
Sr. No Occupation No. of Respondents Percentage (%)

1 Business Mans 30 60%
2 Service Mans 8 16%
3 Professionals 5 10%
4 Any Customers 7 14%
Total 50 100%
Sources: - Data collection from Primary Sources through the Questionnaire Method.
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Classification of respondents on the basis of Occupation
Occupations
Figure3.5
Interpretation: -
From the above and figure it is depicted that maximum respondents are businessman and
as well as customers are 60% and 14% respectively. Whereas Service man and Professionals
are 16% and 10% respectively. That it can be concluded that majority of the respondents are
doing own business.
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their response regarding the statement “GST has increased the various legal formalities”.
The response is divided into five categories- Strongly Agree, Agree, Neutral, Dis Agree and
Strongly Dis Agree. The description of this as below:
Table No. 3.6.
Classification of respondents on the basis of their perception regarding the GST

implementation.
Sr. No Response No. of Respondents Percentage (%)

1 Strongly Agree 21 42%
2 Agree 21 42%
3 Neutral 7 14%
4 Dis Agree 1 2%
5 Strongly Dis Agree 0 0%
Total 50 100%
Sources: - Data collected from Primary Sources through Questionnaire Method.
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Response
Figure 3.6
Interpretation: -
Above chart depicted the majority of the respondents satisfied with the statement after
implementation of GST has increased various types of formalities, 42% respondents are
strongly agreed and also 42% are agreed and 14% are also neutral. So, it is concluded that
majority of the respondents satisfied this statement.
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In Table No. 3.7: - An attempt has been made classify the respondents on the basis of
their response regarding statement “GST has increased the tax burden on Common Man”.
Table No. 3.7.
Classification of respondents on the basis of response of the respondents regarding the

statement GST has increased the tax burden on common man.

2 Agree 16 32%
3 Neutral 15 30%
4 Dis Agree 11 22%
5 Strongly Dis Agree 0 0
Total 50 100%
Sources: - Data collected by Primary sources through Questionnaire Method.
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Response
Figure 3.7
Interpretation: -
According to above table, it is shows that majority of the respondents 32% are Agree with
this statement and 30% are neutral and also 22% are Dis Agree for this statement. 16% are
strongly agreed. So, it is concluded that majority and cum majority peoples are said that GST
has increased the burden of common man.
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their response towards for India is really for GST implementation.
Table No. 3.8.
Classification of respondents on the basis of response of respondents regarding India is

really ready for GST implementation.

2 Agree 19 38%
3 Neutral 14 28%
4 Dis Agree 8 16%
Total 50 100%
Sources: - Data collected from Primary sources through Questionnaire method.
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Response
Figure 3.8
Interpretation: -
From the above table and figures it is concluded that 38% respondents are agree and 14%
are strongly agreed to India is ready for GST implementation and 28% also neutral to this
statement but even 16% and 4% are Dis agreed also. So, it is fair conclusion are majority of
the respondents are saying India is ready GST implementation. Hence, results are positive
perception.
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their perception regarding statements are GST affects the Indian capital stock market
operations. The following description for this statement is show as below:
Table No. 3.9.
Classification of respondents on the basis of their perception regarding the GST are affects
the Indian capital stock market operations.

2 Agree 4 8%
3 Neutral 13 26%
4 Dis Agree 25 50%
Total 50 100%
Sources: - Data collected from Primary sources through Questionnaire method.
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Response
Figure 3.9
Interpretation: -
From the above table, it shows that majority of the respondents 50% are Dis agree with the
statements are GST affects the Indian capital stock market operations and 26% respondents
are neutral for this statement. So, after all 6% and 8% are strongly agree also. Hence it is
concluded that majority of the respondents more than 50% are Dis Agreed and results at
this statement are pure negative. And some little bit 26% are positive but perception of
respondents regarding these statements are negative this statement.
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In Table No. 3.10: - An attempt has been made of classify the respondents on the basis
of their response towards the statement. The newly implemented Goods and Service Tax
confused the customers. The following descriptions are given below:
Table No. 3.10.
Classification of respondents on the basis of response of the respondents regarding the

Newly implemented GST confused customers.

2 Agree 9 18%
3 Neutral 13 26%
4 Dis Agree 17 34%
Total 50 100%
Sources: - Data collected from Primary Data through Questionnaire method.
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Response
Figure 3.10
Interpretation: -
Above figure depicted that 18% respondents responds Strongly Agree and agreed regarding
this statement GST confused customers. 26% are neutral regarding this and maximum
respondents respond 34% and another 4% are Dis agreed with this statement. Hence it is
concluded that customers have no confusion for GST implementation and overall maximum
results for this analysis may negative. And less than positive also.
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Findings of the Study: -
After Analysis and Interpretation of the data these are following findings were emerged:
1. Most of the respondents are Male.
2. Majority of the respondents 58% comes under the age group above 40 years and 32% are
comes under 25-40 years.
3. More than 60% respondents are related to Business category.
4. The most of respondent’s perception are very positive towards the GST and they are
aware of GST through the mass media.
5. 56% respondents are that opinion GST is very good tax reform for India and it is the
turning point of the taxation system.
6. Most of the customers perception that GST is very beneficial in long term for economy of
the country and also effect of GDP.
7. Maximum 50% respondents are responding GST has increased the various legal
formalities.
8. Majority of the peoples have perception that they still need more clarity on GST and
opened that they discuss about GST with others.
9. Most of the customers opinion that GST is fair tax. And also, GST is predominantly
compliance tax.
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CHAPTER-4
CONCLUSION AND RECOMMENDATION
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4.1- CONCLUSION: -
The study highlighted the overall overview of GST in South 24 parganas area of West Bengal.
The government to put in more effort to ensure that consumers have a clear understanding
and develop a positive perception towards GST, leading to its acceptance. Good
understanding among customers is important as it can generate a positive perception
towards the taxation policy.
Under GST regime, the indirect tax for various sectors has been classified into a simplified
tax system. Internet technologies help to reduce manual intervention of tax authorities. The
different rates given by GST council unify tax structure in India. The price depends not only
on tax rate implementation, but, also it is a part of factors affecting the product. This project
relives that business is affected by tax. The GST council and government have to take
necessary steps to educate about GST in the country.
The implementation of GST is one of the best decisions taken by the Indian government. For
the same reason, July 1 was celebrated as Financial Independence Day in India when all the
Members of Parliament attended the function in Parliament House. The transition to the
GST regime which is accepted by 159 countries would not be easy. Confusions and
complexities were expected and will happen. India, at some point, had to comply with such
regime.
Though the structure might not be a perfect one but once in place, such a tax structure will
make India a better economy favorable for foreign investments. Until now India was a union
of 29 small tax economies and 7 union territories with different levies unique to each state.
It is a much accepted and appreciated regime because it does away with multiple tax rates
by Centre and States.
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And if you are doing any kind of business then you should register for GST as it is not only
going to help Indian government but will help you also to track your business weekly as in
GST you have to make your business activity statement each week. Also, government is
better to address many of the concerns in tax filling, input tax credit, refund mechanism,
export and imports.
The single tax system reduces transportation time. But, the use the services of external
consultants issued for various tax matters. The change in GST law urges companies need to
change their accounting system frequently. The technical cost and legal cost in GST are very
high and not satisfied with available required services of GST. So, transition to GST is very
difficult. Some common problem faced by business are increased overhead expense, supply
chain structure, excessive compliance and filling, delays in refund, GST filling, decline in
business, refund mechanism and rise in input cost.
GST is effective in improving the taxation system of country and the government should
take more efforts to training and educate public. Necessary modules should be integrated in
the education sector related to GST. The time taken by GST council to implement decision is
not satisfied. The satisfaction level of GST after two and half years has not reached the
expectation of all Governments, consumers and business. The urgent requirements for
improvement in GST in the interest of the nation as a whole are rationalizing GST rates,
removing excess processes, creating efficiencies and removing debatable aspects. Our rates
should be competitive with global rates so that India becomes a preferred competitive
destination which will give a boost to ‘Make in India’ initiative.
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4.2- RECOMMENDATION OF GST: -
The major recommendations are as detailed below:
1. Upper limit of turnover for opting for composition scheme to be raised from Rs. 1 crore to
Rs. 1.5 crore. Present limit of turnover can now be raised on the recommendations of the
Council.
2. Composition dealers to be allowed to supply services (other than restaurant services), for
up to a value not exceeding 10% of turnover in the preceding financial year, or Rs. 5 lakhs,
whichever is higher.
3. Levy of GST on reverse charge mechanism on receipt of supplies from unregistered

suppliers, to be applicable to only specified goods in case of certain notified classes of
registered persons, on the recommendations of the GST Council.
4. The threshold exemption limit for registration in the States of Assam, Arunachal Pradesh,
Himachal Pradesh, Meghalaya, Sikkim and Uttarakhand to be increased to Rs. 20 Lakh from
Rs. 10 Lakh.
5. Taxpayers may opt for multiple registrations within a State/Union territory in respect of
multiple places of business located within the same State/Union territory.
6. Mandatory registration is required for only those e-commerce operators who are
required to collect tax at source.
7. Registration to remain temporarily suspended while cancellation of registration is under

process, so that the taxpayer is relieved of continued compliance under the law.
8. The following transactions to be treated as no supply (no tax payable) under Schedule III:
a) Supply of goods from a place in the non-taxable territory to another place in the non-
taxable territory without such goods entering into India;
b) Supply of warehoused goods to any person before clearance for home consumption; and
c) Supply of goods in case of high sea sales.
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9. Scope of input tax credit is being widened, and it would now be made available in respect
of the following:
a) Most of the activities or transactions specified in Schedule III;
b) Motor vehicles for transportation of persons having seating capacity of more than
thirteen (including driver), vessels and aircraft;
c) Motor vehicles for transportation of money for or by a banking company or financial

institution;
d) Services of general insurance, repair and maintenance in respect of motor vehicles,

vessels and aircraft on which credit is available; and
e) Goods or services which are obligatory for an employer to provide to its employees,
under any law for the time being in force.
10. In case the recipient fails to pay the due amount to the supplier within 180 days from
the date of issue of invoice, the input tax credit availed by the recipient will be reversed, but
liability to pay interest is being done away with.
11. Registered persons may issue consolidated credit/debit notes in respect of multiple
invoices issued in a Financial Year.
12. Amount of pre-deposit payable for filing of appeal before the Appellate Authority and
the Appellate Tribunal to be capped at Rs. 25 Crore and Rs. 50 Crore, respectively.
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13. Commissioner to be empowered to extend the time limit for return of inputs and capital
sent on job work, up to a period of one year and two years, respectively.
14. Supply of services to qualify as exports, even if payment is received in Indian Rupees,
where permitted by the RBI.
15. Place of supply in case of job work of any treatment or process done on goods
temporarily imported into India and then exported without putting them to any other use in
India, to be outside India.
16. Recovery can be made from distinct persons, even if present in different State/Union
territories.
17. The order of cross-utilization of input tax credit is being rationalized.
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BIBLIOGRAPHY/ REFERENCES: -
1. https://wittgenstein
2. www.gstindia.com
3. https://comtax.up.nic.in
4. https://en.wikipedia.org
5. www.gstn.org
6. www.cbec.gov.in
7. www.financialexpress.com
8. www.gstcouncil.gov.in
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QUESTIONNAIRE
A STUDY ON THE CUSTOMERS PERCEPTION TOWARDS GOODS & SERVICE

TAX (GST) OF SOUTH 24 PARGANAS DIST. WEST BENGAL
Name: E-mail Id:
Contact No:
SECTION – A
Please ‘Tick’ your choice----
1. Gender (a) Male (b) Female
2. Status (a) Married (b) Un Married
3. Age Group:
(a) Below 25
(b) 25-40
(c) Above 40
4. Occupation:
(a) Businessman
(b) Serviceman
(c) Professional
(d) Any other
5. Qualification:
(a) Graduation
(b) Post Graduation
(c) Any other Qualification

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SECTION- B
Kindly Tick your perception regarding the Goods and Service Tax.
Sr. Statements Strongly Agree Neutral Dis Agree Strongly

No. Agree Dis Agree
1. GST is a very good tax
reforms for India
2. GST has increased the

various legal formalities.
3. GST has increased the tax

burden on common man.
4. India is really ready for GST

implementation.
5. GST has increased the tax

burden on businessman.
6. Govt has imposed GST on

people without any
preparation.
7. GST is a very difficult to

understand.
8. GST will increase the

inflation in the country.
9. GST is a beneficial in long
term.
10. GST will increase the tax

collection of GOVT.
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11. GST will be affecting small

business very badly.
12. GST is impacting the

customer purchasing power
in effectively.
13. GST affects the Indian

capital stock market
operations.
14. GST will cause an increase

in the cost of living.
15. GST is a good method to

replace the sales and
service tax.
16. The implementation of GST

will result in the products
and services to be more
expensive.
17. The newly implemented

GST confused the
customers.
18. The Goods and Service Tax

system is a way for the
government to collect
revenue to manage an
economy.
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19. The sentences and wording

in the Goods and Service
Tax guide is lengthy and not
user friendly.
20. Goods and Service Tax

(GST) encourage individuals
to save part of their
income.
Sources: Primary Data Collection
--------THANK YOU--------
61 | P a g e

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Customers Perception Towards GST (Goods & Service Tax)

Accounting and Finance (University of Calcutta)

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TITLE OF THE PROJECT

Customers Perception Towards GST (Goods & Service Tax)

Name of the Candidate: Shuvam Mondal

Name of the Supervisor: Priyanka Banik

MONTH & YEAR OF SUBMISSION

Place: Kolkata Name: Prof. Priyanka Banik

Name: Shuvam Mondal

I being a benefited student of HERAMBA CHANDRA COLLEGE, affiliated Under the

SERIAL NO CONTENTS PAGE NO

1.1 Background of the study 2-3

2.1 Introduction 15-16

CHAPTER 4 CONCLUSION AND RECOMMENDATION 51-56

4.1 Conclusion 52-53

1.1- BACKGROUND OF THE STUDY: -

It was assented by Honorable president of India on 8th September 2016

1.2- LITERATURE REVIEW: -

SL. TITLE OF THE NAME OF THE FINDING

policy change in the tax system of this

Since, the GST reforms, tax allocation is

1.3 - OBJECTIVES OF THE GST: -

1.4- RESEARCH METHODOLOGY: -

Research Methodology is away to exploratory research based on historical secondary data

1.5- LIMITATIONS OF THE STUDY: -

2. Issues with sample and selections.

4. This study is based on primary data.

5. Limited access to data.

7. Conflicts arising from cultural bias and other personal issues.

1.6- CHAPTER PLANNING: -

The study is divided into 4 chapter and references:

Chapter 2: Conceptual Framework

Chapter 3: Data Collection and Analysis

Chapter 4: Conclusion and Recommendation

In a nutshell, GST is a comprehensive indirect tax levy on manufacture, sale and

2.2- HISTORY OF GOODS AND SERVICE TAX: -

In March 2011, Constitution (115th Amendment) Bill, 2011 was introduced in

Thereafter, State Legislatures of different States have passed respective State

2.3- FEATURES OF GOODS AND SERVICE TAX: -

The features of GST are as under:

2.4- NECESSITY OF GOODS AND SERVICE TAX: -

1. The introduction of CENVAT removed to a great extent cascading burden by expanding

2.5- ADVANTAGES OF GOODS AND SERVICE TAX: -

(iii) Harmonization of laws, procedures and rates of tax;

2.6- DISADVANTAGES OF GOODS AND SERVICE TAX: -

(i) Increases costs due to software purchase:

(ii) Higher Tax Burden of SMEs:

(iii) Increase Burden of Compliance:

(iv) No GST charged on petroleum products:

(v) GST is an online taxation system:

(vi) GST was implemented in the middle of the financial year:

(viii) Training of Tax officers:

2.7- LIMITATIONS OF GOODS AND SERVICE TAX: -

6; With GST, insurance premiums have become more expensive.

2.8- IMPORTANCE OF GOODS AND SERVICE TAX: -

(b) increase in household income and purchasing power,

(c) increase in savings of common man,

(d) high increase towards investment potential.

DATA ANALYSIS & INTERPRETATION

A brief description of analysis and interpretation given below: