IOSR Journal of Business and Management (IOSR-JBM) is a double blind peer reviewed International Journal that provides rapid publication (within a month) of articles in all areas of business and managemant and its applications. The journal welcomes publications of high quality papers on theoretical developments and practical applications inbusiness and management. Original research papers, state-of-the-art reviews, and high quality technical notes are invited for publications.
major research project (IMPACT OF GST ON LOGISTIC INDUSTRY IN INDIA)Abhilash Haldkar
Logistics sector plays a very significant role in the development of our nation. The Indian logistics industry is expected to grow steadily. But the logistics costs in India are high when compared to developed countries. This is primarily due to complex tax structure and poor infrastructure. Currently the freight that moves across the country is taxed multiple times. So this paper is an analysis of what the impact of Goods and Service Tax (GST) will be on Logistics Sector in India primarily in Transportation, Warehousing and Logistics Service Providers.
More than 150 countries have implemented GST so far.
major research project (IMPACT OF GST ON LOGISTIC INDUSTRY IN INDIA)Abhilash Haldkar
Logistics sector plays a very significant role in the development of our nation. The Indian logistics industry is expected to grow steadily. But the logistics costs in India are high when compared to developed countries. This is primarily due to complex tax structure and poor infrastructure. Currently the freight that moves across the country is taxed multiple times. So this paper is an analysis of what the impact of Goods and Service Tax (GST) will be on Logistics Sector in India primarily in Transportation, Warehousing and Logistics Service Providers.
More than 150 countries have implemented GST so far.
This is a presentation for those people who wants to understands the basics of gst. This ppt includes how the gst works, Inpu ax Credit, Rates of GST, Composition Scheme etc.
The Good and services tax (GST) is the biggest and substantial indirect tax reform since 1947. The main idea of GST is to replace existing taxes like value-added tax, excise duty, service tax and sales tax. GST as it is known is all set to be a game changer for the Indian economy. India as world’s one of the biggest democratic country follow the federal tax system for levy and collection of various taxes.GST tax system plays a vital role in growth of India.GST cover 12 taxes (Like Vat, Sale tax, CST, KKC etc). GST is one of the most crucial tax reforms in India which has been long pending. It will be levied on manufacture sale and consumption of goods and services. GST is expected to address the cascading effect of the existing tax structure and result in uniting the country economically.
Goods and service tax is a colligation of multiple taxes levied by both Central (i.e., excise duty, countervailing duty and service tax) and state (Value-added tax, Octroi and entry tax, luxury tax, etc.) governments when an end-user purchases goods or services. It means same level of taxation would be charged on a specific product or service across the entire country irrespective of being manufactured and sold in different states. Logistics is generally the detailed organization and implementation of a complex operation. In a general business sense, logistics is the management of the flow of things between the point of origin and the point of consumption in order to meet requirements of customers or corporations. This paper is an analysis of what the impact of Goods and Service Tax (GST) is on Logistics Sector in India primarily in Transportation, Warehousing and Logistics Service Providers.
This is a presentation for those people who wants to understands the basics of gst. This ppt includes how the gst works, Inpu ax Credit, Rates of GST, Composition Scheme etc.
The Good and services tax (GST) is the biggest and substantial indirect tax reform since 1947. The main idea of GST is to replace existing taxes like value-added tax, excise duty, service tax and sales tax. GST as it is known is all set to be a game changer for the Indian economy. India as world’s one of the biggest democratic country follow the federal tax system for levy and collection of various taxes.GST tax system plays a vital role in growth of India.GST cover 12 taxes (Like Vat, Sale tax, CST, KKC etc). GST is one of the most crucial tax reforms in India which has been long pending. It will be levied on manufacture sale and consumption of goods and services. GST is expected to address the cascading effect of the existing tax structure and result in uniting the country economically.
Goods and service tax is a colligation of multiple taxes levied by both Central (i.e., excise duty, countervailing duty and service tax) and state (Value-added tax, Octroi and entry tax, luxury tax, etc.) governments when an end-user purchases goods or services. It means same level of taxation would be charged on a specific product or service across the entire country irrespective of being manufactured and sold in different states. Logistics is generally the detailed organization and implementation of a complex operation. In a general business sense, logistics is the management of the flow of things between the point of origin and the point of consumption in order to meet requirements of customers or corporations. This paper is an analysis of what the impact of Goods and Service Tax (GST) is on Logistics Sector in India primarily in Transportation, Warehousing and Logistics Service Providers.
Successfully Outsourcing Your Accounting Function4Good.org
For startup or small nonprofits, hiring the right financial expertise can be challenging. Outsourcing to a qualified firm allows you to focus your efforts on mission and fund raising, can strengthen internal controls and often results in significant improvements in your overall financial management and reporting. The keys to success are to clarify your expectations for outsourcing and identify the right outsourcing partner with whom your organization can build a collaborative relationship.
On Today's Menu: Your Successful Grant Proposal4Good.org
How can you whip up a successful grant proposal? You’ll need just the right proportions of research, planning, drafting, and editing. And don’t forget to garnish with tasty feedback and a dash of good timing!
Foundations and corporate funders are always looking for ways to make good investments in your community. To partner with them, you have to show exactly how you can help make that happen!
Webinar participants will get a special discount on Dalya’s award-winning book, "Writing to Make a Difference: 25 Powerful Techniques to Boost Your Community Impact."
Who should attend: This webinar is ideal for: nonprofit directors, staff, board, volunteers, and consultants who help raise money from foundations and corporations; jobseekers are also welcome.
Childhood Factors that influence success in later lifeiosrjce
IOSR Journal of Business and Management (IOSR-JBM) is a double blind peer reviewed International Journal that provides rapid publication (within a month) of articles in all areas of business and managemant and its applications. The journal welcomes publications of high quality papers on theoretical developments and practical applications inbusiness and management. Original research papers, state-of-the-art reviews, and high quality technical notes are invited for publications.
Why is board governance one of the most common and persistent problems for nonprofits? Many in the sector have come to the realization that the problem is with the traditional governance model itself and new models are urgently needed. This workshop presents a new governance framework, which has been nationally recognized as one of the true innovative developments in the field. Community-Engagement Governance™ is an innovative and effective framework that includes an organization’s stakeholders in key governance decisions for an organization’s future. It is an approach in which governance responsibility is shared among the key sectors of an organization, including its constituents and community, staff, and board to ensure community impact, responsiveness to constituent needs, and high quality decision-making. Participants will learn about this new framework and tools to help them adapt it to their own organization and communities.
Integrating 360 degree feedback in to performance appraisal tool and developm...iosrjce
The performance of an organization is managed by monitoring and managing the performance of the
individual employees in the onganization. 360 degree feedback is considered to be one of the method of
performance Appraisal system which reduces the subjectivily of a traditional supervisor appraisal. In a 360
degree appraisal system, the employees performance is evaluated by his supervisors, his peers, his
internal/external suppliers and his subordinate managers and leaders within organizations use 360 degree
feedback surveys to get a better understanding of their strengths and weaknesses. 360 degree feedback can be
considered as one of the attribute of performance management system which is goal oriented and focused on
present as well as future performance.
Six Things To Remember While Writing Feedback
(A Performance Appraisal Cheat Sheet )
#Hr #Performance Appraisal #Feedback
Ask yourself these questions…
Am I Being Specific?
State facts and give examples in support of the feedback being given
Am I Showing The Way To Grow And Develop This Person?
Your job as a reviewer is to develop and grow people. Pointing to short comings does not help the cause.
Can This Person Really Do Something About This?
Think before if this person can do something about this or if you can help changing this behavior? If answer is no, that particular feedback is best left unsaid.
Will This Add Value To This Person?
Focus the feedback on the value it will have for the receiver
Does This Represent Facts?
Write feedback promptly when the incident is fresh in your mind. Do not let other unrelated incidents influence your feedback. Good Managers maintain a small notepad, to jot down incidents when they occur.
Finally, Let Silence do the Heavy Lifting
Five signs that indicate silence is needed
Interrupting by talking over some one else
Formulating your response while some one is talking
Using a break in the conversation to create a distraction to change topics
Talking in circles
Monopolizing airtime
--------
Six Things To Remember While Writing Feedback(A Performance Appraisal Cheat Sheet )
#Hr #Performance Appraisal #Feedback
Rajesh Soundararajan
@rajeshsound
An Examination of Effectuation Dimension as Financing Practice of Small and M...iosrjce
IOSR Journal of Business and Management (IOSR-JBM) is a double blind peer reviewed International Journal that provides rapid publication (within a month) of articles in all areas of business and managemant and its applications. The journal welcomes publications of high quality papers on theoretical developments and practical applications inbusiness and management. Original research papers, state-of-the-art reviews, and high quality technical notes are invited for publications.
Internet has permeated to every sphere of our lives. Facebook and WhatsApp have pervaded to every sphere of our lives.
Hoevver, the generation 1950s and earlier have to a lrge extent been unable to grapple with the complexities of this new medium.
Internet Safety for Elder Adults and Beginners is a quick step guide to such adults, to both simplify and yet make them aware of the consequences of their action.
The idea is not to create fear of the monster, but to get them relate the safety precautions to what they would take in offline world.
Would appreciate your suggestions. This is a crowd sourced effort and I am thankful to the contributors.
GST came to India as a medicine that would treat taxable diseases at one go. It was described by economists as the biggest economic reform after independence. Till the year 2017 indirect tax structure in India was a complex mixture of central taxes and state taxes, here different types of taxes were levied at different stages, which made the tax structure difficult and most of the taxes were not adjusted for this system tax. Increases effect such as taxes on taxes that increase the value of products and services. This economic reform is extremely essential for an emerging economic power like India. Impact of The last deputy speaker from the government, the government and the economy will present its influence in both positive and negative forms. This research of mine will throw light on the study of these two sides. Dr. Sumit Trivedi "Impact of GST on Different Classes" Published in International Journal of Trend in Scientific Research and Development (ijtsrd), ISSN: 2456-6470, Volume-5 | Issue-4 , June 2021, URL: https://www.ijtsrd.compapers/ijtsrd42333.pdf Paper URL: https://www.ijtsrd.commanagement/accounting-and-finance/42333/impact-of-gst-on-different-classes/dr-sumit-trivedi
This project is undertaken to fulfill information needs of the user at two levels i.e. Macro Level and Micro Level
On a macro level, it aims to provide a single document which can provide information about the impact of GST on various sectors like logistics, eCommerce, pharma, telecommunication, textile, real estate, agriculture, automobiles, small medium enterprises and startups.
Further, on a micro level, it aims to provide information to a businessperson information about GST from a business perspective so that one is able to (a) Comply with the law and (b) collect and pay to the government the correct amount of taxes on time and (c) Does not miss out on any credits that are available.
A Pre Experimental Study to Assess the Effectiveness of Planned Teaching Prog...ijtsrd
Background Health is considered as one of the most important values of life. Certain illnesses can also change the client’s body image or physical appearance weakness, loss of limb, and severe scarring. The client’s self esteem and self concept will also be affected. Early detection and treatment is one of the measures to prevent illness and also to reduce complications and death. Objective The study aimed to assess the effectiveness of planned teaching programme on knowledge towards safe handling of chemotherapeutics drugs among staff nurses in Cancer hospital Gwalior M.P. Methods The research design selected for the study was pre experimental one group pre test posttest . Structured knowledge questionnaire developed to assess the knowledge of staff nurses regarding safe handling of chemotherapeutic drugs. Bhoori Singh | Sunita Tomar | Sunita Singh "A Pre-Experimental Study to Assess the Effectiveness of Planned Teaching Programme on Knowledge towards Safe Handling of Chemotherapeutics Drugs among Staff Nurses in C.H.R.I Gwalior (M.P)" Published in International Journal of Trend in Scientific Research and Development (ijtsrd), ISSN: 2456-6470, Volume-5 | Issue-4 , June 2021, URL: https://www.ijtsrd.compapers/ijtsrd42353.pdf Paper URL: https://www.ijtsrd.commedicine/nursing/42353/a-preexperimental-study-to-assess-the-effectiveness-of-planned-teaching-programme-on-knowledge-towards-safe-handling-of-chemotherapeutics-drugs-among-staff-nurses-in-chri-gwalior-mp/bhoori-singh
GST A Journey to Make India a Single Tax Economyijtsrd
Goods and Service tax is the Comprehensive levy on the goods and services at the stage of consumption. This paper will try to highlight the changes in out indirect structure that has finally resulted in the introduction of GST. This paper gives a detailed account of how we started with L.K. Jha Committee report in 1976 and ended up with 101st Constitutional Amendment Act that led to the unification of the Economy. The GST is also very important from the view of Cooperative federalism because the introduction of GST was not possible if the State and Central Government would not have forgo some of there power to tax under 7th schedule. The paper has tried to cover the whole journey of GST and the need for integrated tax structure in India. The paper will further evaluate the policy changes and its impact in past 3 years. Manisha Patawari | Dr. S. P. Srivastava "GST: A Journey to Make India a Single Tax Economy" Published in International Journal of Trend in Scientific Research and Development (ijtsrd), ISSN: 2456-6470, Volume-4 | Issue-4 , June 2020, URL: https://www.ijtsrd.com/papers/ijtsrd31326.pdf Paper Url :https://www.ijtsrd.com/management/law-and-management/31326/gst-a-journey-to-make-india-a-single-tax-economy/manisha-patawari
Goods and Services Tax: Benefits and its Impact on Indian EconomyDr. Amarjeet Singh
The Goods and Services Tax, or GST, took effect on July 1, 2017. The new tax system was designed to replace all current indirect taxes with a single, comprehensive tax. The Products and Services Tax (GST) is a consumption tax imposed on goods and services depending on their final destination (Bhushan Satya). Simply said, GST is a single tax that applies to the delivery of goods and services from the producer to the end user. In a nutshell, it's a tax imposed solely on value addition, with input tax credits transferred to successive stages of value addition, implying that the ultimate tax burden would fall on the end user of products or services.
The anticipated advantages of implementing the GST are that it would decrease the cascading impact of taxes, i.e. it will eliminate tax on tax. It was also anticipated to stimulate demand for products and the elimination of a number of indirect taxes such as VAT, CST, Service tax, CAD, SAD, and Excise, among others, which would help to improve the Indian economy in the long term.
This paper tries to highlight the cost and benefits bear by the economy due to implementation of the GST. The paper also tries to find out the expected rate of growth of economy after the GST. Finally, the study tries to conclude that how it would be disrupted and benefits the economy in the long run.
TAX REFORM FOR DEVELOPING VIABLE AND SUSTAINABLE TAX SYSTEMS IN INDIA WITH SP...IAEME Publication
Most developing countries continue to face severe issues in developing adequate and quick to
respond tax systems. While each of these paths to reform is necessary, in the end what 50 years of
experience tells us is that improving the precision and understanding with which fiscal issues both
within and outside government, is the really essential ingredient to developing viable and
sustainable tax systems in developing countries like India. Indian taxation system has undergone
remarkable reforms during the last decade. The tax rates have been rationalized and tax laws have
been simplified resulting in better compliance, ease of tax payment and better enforcement. The
process of validation of tax administration is ongoing in India.
Another key objective of tax reform measures has been to increase total tax to GDP ratio as a
means of achieving fiscal consolidation and improving resource allocation. GST, easier tax filing
methodology and simpler tax structures – Government of India is working to enhance the
government's revenue collection, at the same time ensuring that cumbersome taxes do not deter
investors. This paper review the three principal ways in which developing countries like India may
develop and progress their taxation systems - base-broadening, rate reduction, and administrative
improvement - in the context of the political economy of tax reform.
Basic Features, Opportunities and Benefits of GST Implementation in IndiaArul Edison
The Goods and Services tax (GST) is an indirect tax. It is levied at every stage of the production and distribution of products. It is actually changes on the final consumption of the products. It includes excise duty, custom duty; Services tax and Value add tax (VAT). The GST is a VAT to be implemented in India. The decision on which is not yet declared by Government and the framing of rules are under process. Several countries implemented this tax system followed by France, the first country introduced GST. Goods and service tax is a new story of VAT which gives a widespread setoff for input tax credit and subsuming many indirect taxes from state and national level. Presently around 140 countries have adopted the GST pattern, including India. The GST would be beneficial for the consumers as it reduces the final burden of taxation. Therefore, the researchers have discussed the possible salient features, opportunities and benefits of GST implemented.
Impact of Goods and Services Tax on Indian Economyijtsrd
The Goods and Services Tax, also known as GST Goods and Service Tax , came into force in India on 01 July 2017. Now there is a free flow of goods in the country and the concern of tax rates of businessmen have ended. The Goods and Services Tax rate in India is the highest at 28 percent, which frustrates businessmen. GST replaced very complex and many indirect taxes such as production duty, sales tax, entry tax, VAT etc. The objective of the Government of India to implement this was to encourage development by adopting the system of “one nation, one tax, one market†by exempting the country from the different tax rates of different states. Goods and services have become expensive with GST. But it will have to wait for its positive and negative results, and see which side is to turn. Finally, how does the Goods and Services Tax affect consumers Dr. Sumit Trivedi "Impact of Goods and Services Tax on Indian Economy" Published in International Journal of Trend in Scientific Research and Development (ijtsrd), ISSN: 2456-6470, Volume-5 | Issue-4 , June 2021, URL: https://www.ijtsrd.compapers/ijtsrd41316.pdf Paper URL: https://www.ijtsrd.commanagement/accounting-and-finance/41316/impact-of-goods-and-services-tax-on-indian-economy/dr-sumit-trivedi
Traditionally India’s tax regime relied heavily on indirect taxes. Revenue from indirect taxes was the major source of tax revenue till tax reforms were undertaken during nineties. The major argument put forth for heavy reliance on indirect taxes was that the India’s majority of population was poor and thus widening base of direct taxes had inherent limitations. But the Indian system of indirect taxation is characterized by cascading, distorting tax on production of goods and services which leads to hampering productivity and slower economic growth. There are endless taxes in present system few levied by Centre and rest levied by state, to remove this multiplicity of taxes and reducing the burden of the tax payer a simple tax is required and that is Goods and Service Tax (GST). This paper throws an insight into the Goods and Service Tax concept, advantages, disadvantages and international scenario
Similar to Does Goods and Services Tax (GST) Leads to Indian Economic Development? (20)
Emotional Intelligence and Work Performance Relationship: A Study on Sales Pe...iosrjce
IOSR Journal of Business and Management (IOSR-JBM) is a double blind peer reviewed International Journal that provides rapid publication (within a month) of articles in all areas of business and managemant and its applications. The journal welcomes publications of high quality papers on theoretical developments and practical applications inbusiness and management. Original research papers, state-of-the-art reviews, and high quality technical notes are invited for publications.
Customer’s Acceptance of Internet Banking in Dubaiiosrjce
IOSR Journal of Business and Management (IOSR-JBM) is a double blind peer reviewed International Journal that provides rapid publication (within a month) of articles in all areas of business and managemant and its applications. The journal welcomes publications of high quality papers on theoretical developments and practical applications inbusiness and management. Original research papers, state-of-the-art reviews, and high quality technical notes are invited for publications.
A Study of Employee Satisfaction relating to Job Security & Working Hours amo...iosrjce
IOSR Journal of Business and Management (IOSR-JBM) is a double blind peer reviewed International Journal that provides rapid publication (within a month) of articles in all areas of business and managemant and its applications. The journal welcomes publications of high quality papers on theoretical developments and practical applications inbusiness and management. Original research papers, state-of-the-art reviews, and high quality technical notes are invited for publications.
Consumer Perspectives on Brand Preference: A Choice Based Model Approachiosrjce
IOSR Journal of Business and Management (IOSR-JBM) is a double blind peer reviewed International Journal that provides rapid publication (within a month) of articles in all areas of business and managemant and its applications. The journal welcomes publications of high quality papers on theoretical developments and practical applications inbusiness and management. Original research papers, state-of-the-art reviews, and high quality technical notes are invited for publications.
Student`S Approach towards Social Network Sitesiosrjce
IOSR Journal of Business and Management (IOSR-JBM) is a double blind peer reviewed International Journal that provides rapid publication (within a month) of articles in all areas of business and managemant and its applications. The journal welcomes publications of high quality papers on theoretical developments and practical applications inbusiness and management. Original research papers, state-of-the-art reviews, and high quality technical notes are invited for publications.
Broadcast Management in Nigeria: The systems approach as an imperativeiosrjce
IOSR Journal of Business and Management (IOSR-JBM) is a double blind peer reviewed International Journal that provides rapid publication (within a month) of articles in all areas of business and managemant and its applications. The journal welcomes publications of high quality papers on theoretical developments and practical applications inbusiness and management. Original research papers, state-of-the-art reviews, and high quality technical notes are invited for publications.
A Study on Retailer’s Perception on Soya Products with Special Reference to T...iosrjce
IOSR Journal of Business and Management (IOSR-JBM) is a double blind peer reviewed International Journal that provides rapid publication (within a month) of articles in all areas of business and managemant and its applications. The journal welcomes publications of high quality papers on theoretical developments and practical applications inbusiness and management. Original research papers, state-of-the-art reviews, and high quality technical notes are invited for publications.
A Study Factors Influence on Organisation Citizenship Behaviour in Corporate ...iosrjce
IOSR Journal of Business and Management (IOSR-JBM) is a double blind peer reviewed International Journal that provides rapid publication (within a month) of articles in all areas of business and managemant and its applications. The journal welcomes publications of high quality papers on theoretical developments and practical applications inbusiness and management. Original research papers, state-of-the-art reviews, and high quality technical notes are invited for publications.
Consumers’ Behaviour on Sony Xperia: A Case Study on Bangladeshiosrjce
IOSR Journal of Business and Management (IOSR-JBM) is a double blind peer reviewed International Journal that provides rapid publication (within a month) of articles in all areas of business and managemant and its applications. The journal welcomes publications of high quality papers on theoretical developments and practical applications inbusiness and management. Original research papers, state-of-the-art reviews, and high quality technical notes are invited for publications.
Design of a Balanced Scorecard on Nonprofit Organizations (Study on Yayasan P...iosrjce
IOSR Journal of Business and Management (IOSR-JBM) is a double blind peer reviewed International Journal that provides rapid publication (within a month) of articles in all areas of business and managemant and its applications. The journal welcomes publications of high quality papers on theoretical developments and practical applications inbusiness and management. Original research papers, state-of-the-art reviews, and high quality technical notes are invited for publications.
Public Sector Reforms and Outsourcing Services in Nigeria: An Empirical Evalu...iosrjce
IOSR Journal of Business and Management (IOSR-JBM) is a double blind peer reviewed International Journal that provides rapid publication (within a month) of articles in all areas of business and managemant and its applications. The journal welcomes publications of high quality papers on theoretical developments and practical applications inbusiness and management. Original research papers, state-of-the-art reviews, and high quality technical notes are invited for publications.
Media Innovations and its Impact on Brand awareness & Considerationiosrjce
IOSR Journal of Business and Management (IOSR-JBM) is a double blind peer reviewed International Journal that provides rapid publication (within a month) of articles in all areas of business and managemant and its applications. The journal welcomes publications of high quality papers on theoretical developments and practical applications inbusiness and management. Original research papers, state-of-the-art reviews, and high quality technical notes are invited for publications.
Customer experience in supermarkets and hypermarkets – A comparative studyiosrjce
IOSR Journal of Business and Management (IOSR-JBM) is a double blind peer reviewed International Journal that provides rapid publication (within a month) of articles in all areas of business and managemant and its applications. The journal welcomes publications of high quality papers on theoretical developments and practical applications inbusiness and management. Original research papers, state-of-the-art reviews, and high quality technical notes are invited for publications.
Social Media and Small Businesses: A Combinational Strategic Approach under t...iosrjce
IOSR Journal of Business and Management (IOSR-JBM) is a double blind peer reviewed International Journal that provides rapid publication (within a month) of articles in all areas of business and managemant and its applications. The journal welcomes publications of high quality papers on theoretical developments and practical applications inbusiness and management. Original research papers, state-of-the-art reviews, and high quality technical notes are invited for publications.
Secretarial Performance and the Gender Question (A Study of Selected Tertiary...iosrjce
IOSR Journal of Business and Management (IOSR-JBM) is a double blind peer reviewed International Journal that provides rapid publication (within a month) of articles in all areas of business and managemant and its applications. The journal welcomes publications of high quality papers on theoretical developments and practical applications inbusiness and management. Original research papers, state-of-the-art reviews, and high quality technical notes are invited for publications.
Implementation of Quality Management principles at Zimbabwe Open University (...iosrjce
IOSR Journal of Business and Management (IOSR-JBM) is a double blind peer reviewed International Journal that provides rapid publication (within a month) of articles in all areas of business and managemant and its applications. The journal welcomes publications of high quality papers on theoretical developments and practical applications inbusiness and management. Original research papers, state-of-the-art reviews, and high quality technical notes are invited for publications.
Organizational Conflicts Management In Selected Organizaions In Lagos State, ...iosrjce
IOSR Journal of Business and Management (IOSR-JBM) is a double blind peer reviewed International Journal that provides rapid publication (within a month) of articles in all areas of business and managemant and its applications. The journal welcomes publications of high quality papers on theoretical developments and practical applications inbusiness and management. Original research papers, state-of-the-art reviews, and high quality technical notes are invited for publications.
Impact of education on innovation performance: evidence from Azerbaijan const...iosrjce
IOSR Journal of Business and Management (IOSR-JBM) is a double blind peer reviewed International Journal that provides rapid publication (within a month) of articles in all areas of business and managemant and its applications. The journal welcomes publications of high quality papers on theoretical developments and practical applications inbusiness and management. Original research papers, state-of-the-art reviews, and high quality technical notes are invited for publications.
Performance Assessment of Agricultural Research Organisation Priority Setting...iosrjce
IOSR Journal of Business and Management (IOSR-JBM) is a double blind peer reviewed International Journal that provides rapid publication (within a month) of articles in all areas of business and managemant and its applications. The journal welcomes publications of high quality papers on theoretical developments and practical applications inbusiness and management. Original research papers, state-of-the-art reviews, and high quality technical notes are invited for publications.
Mediating Role of Training on the relationship between MicroFinance Factors a...iosrjce
IOSR Journal of Business and Management (IOSR-JBM) is a double blind peer reviewed International Journal that provides rapid publication (within a month) of articles in all areas of business and managemant and its applications. The journal welcomes publications of high quality papers on theoretical developments and practical applications inbusiness and management. Original research papers, state-of-the-art reviews, and high quality technical notes are invited for publications.
Falcon stands out as a top-tier P2P Invoice Discounting platform in India, bridging esteemed blue-chip companies and eager investors. Our goal is to transform the investment landscape in India by establishing a comprehensive destination for borrowers and investors with diverse profiles and needs, all while minimizing risk. What sets Falcon apart is the elimination of intermediaries such as commercial banks and depository institutions, allowing investors to enjoy higher yields.
Personal Brand Statement:
As an Army veteran dedicated to lifelong learning, I bring a disciplined, strategic mindset to my pursuits. I am constantly expanding my knowledge to innovate and lead effectively. My journey is driven by a commitment to excellence, and to make a meaningful impact in the world.
Discover the innovative and creative projects that highlight my journey throu...dylandmeas
Discover the innovative and creative projects that highlight my journey through Full Sail University. Below, you’ll find a collection of my work showcasing my skills and expertise in digital marketing, event planning, and media production.
[Note: This is a partial preview. To download this presentation, visit:
https://www.oeconsulting.com.sg/training-presentations]
Sustainability has become an increasingly critical topic as the world recognizes the need to protect our planet and its resources for future generations. Sustainability means meeting our current needs without compromising the ability of future generations to meet theirs. It involves long-term planning and consideration of the consequences of our actions. The goal is to create strategies that ensure the long-term viability of People, Planet, and Profit.
Leading companies such as Nike, Toyota, and Siemens are prioritizing sustainable innovation in their business models, setting an example for others to follow. In this Sustainability training presentation, you will learn key concepts, principles, and practices of sustainability applicable across industries. This training aims to create awareness and educate employees, senior executives, consultants, and other key stakeholders, including investors, policymakers, and supply chain partners, on the importance and implementation of sustainability.
LEARNING OBJECTIVES
1. Develop a comprehensive understanding of the fundamental principles and concepts that form the foundation of sustainability within corporate environments.
2. Explore the sustainability implementation model, focusing on effective measures and reporting strategies to track and communicate sustainability efforts.
3. Identify and define best practices and critical success factors essential for achieving sustainability goals within organizations.
CONTENTS
1. Introduction and Key Concepts of Sustainability
2. Principles and Practices of Sustainability
3. Measures and Reporting in Sustainability
4. Sustainability Implementation & Best Practices
To download the complete presentation, visit: https://www.oeconsulting.com.sg/training-presentations
Improving profitability for small businessBen Wann
In this comprehensive presentation, we will explore strategies and practical tips for enhancing profitability in small businesses. Tailored to meet the unique challenges faced by small enterprises, this session covers various aspects that directly impact the bottom line. Attendees will learn how to optimize operational efficiency, manage expenses, and increase revenue through innovative marketing and customer engagement techniques.
Attending a job Interview for B1 and B2 Englsih learnersErika906060
It is a sample of an interview for a business english class for pre-intermediate and intermediate english students with emphasis on the speking ability.
Cracking the Workplace Discipline Code Main.pptxWorkforce Group
Cultivating and maintaining discipline within teams is a critical differentiator for successful organisations.
Forward-thinking leaders and business managers understand the impact that discipline has on organisational success. A disciplined workforce operates with clarity, focus, and a shared understanding of expectations, ultimately driving better results, optimising productivity, and facilitating seamless collaboration.
Although discipline is not a one-size-fits-all approach, it can help create a work environment that encourages personal growth and accountability rather than solely relying on punitive measures.
In this deck, you will learn the significance of workplace discipline for organisational success. You’ll also learn
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Does Goods and Services Tax (GST) Leads to Indian Economic Development?
1. IOSR Journal of Business and Management (IOSR-JBM)
e-ISSN: 2278-487X, p-ISSN: 2319-7668. Volume 17, Issue 12 .Ver. III (Dec. 2015), PP 01-05
www.iosrjournals.org
DOI: 10.9790/487X-171230105 www.iosrjournals.org 1 | Page
Does Goods and Services Tax (GST) Leads to Indian Economic
Development?
1
Dr. Shakir Shaik, 2
Dr. S.A.Sameera, 3
Mr. Sk.C. Firoz
1
M.B.A., M.Phil., Ph.D., SET-TS & AP., Associate Professor Department of Management Studies
Nimra Institute of Engineering & Technology, Ongole.
2
M.B.A., Ph.D., Head & Associate Professor Department of Management Studies Nimra Institute of
Engineering & Technology, Ongole.
3
M.B.A., (Ph.D.) , SET-TS & AP., Research Scholar Department of Commerce and Business Administration,
Acharya Nagarjuna University, Guntur.
Abstract: Goods and Services Tax (GST) is a comprehensive tax levy on manufacture, sale and consumption of
goods and services at a national level. One of the biggest taxation reforms in India the (GST) is all set to
integrate State economies and boost overall growth. Currently, companies and businesses pay lot of indirect
taxes such as VAT, service tax, sales tax, entertainment tax, octroi and luxury tax. Once GST is implemented, all
these taxes would cease to exist. There would be only one tax, that too at the national level, monitored by the
central government. GST is also different in the way it is levied — at the final point of consumption and not at
the manufacturing stage. At present, separate tax rates are applied to goods and services. Under GST, there
would be only one tax rate for both goods and services. The goods and services Tax will indeed be a further
significant improvement towards a comprehensive indirect tax reforms in the country. Integration of goods and
services taxation would give India a world class tax system and improve tax collections. It would end distortions
of differential treatments of manufacturing and service sector. GST is expected to create a business friendly
environment, as price levels and hence inflation rates would come down overtime as a uniform tax rate is
applied. It will also improve government's fiscal health as the tax collection system would become more
transparent, making tax evasion difficult. An attempt is made in this paper to study the concept of goods and
service tax and its impact on Indian economy. The study also aims to know the advantages and challenges of
GST in Indian scenario.
Key Words: goods n services tax, economic development, Indian economy and value added tax.
I. Introduction
Taxes are the only means for financing the public goods because they cannot be priced appropriately in
the market. They can only be provided by governments, funded by taxes .It is important the tax regime is
designed in such a way that it does not become a source of distortion in the market or result in market failures.
The tax laws should be such that they raise a given amount of revenue in an efficient, effective and equitable
manner.
Tax policies play an important role on the economy through their impact on both efficiency and equity.
A good tax system should keep in view issues of income distribution and, at the same time, also endeavour to
generate tax revenues to support government expenditure on public services and infrastructure development.
GST stands for Goods and Services Tax. It is a domestic trade tax that will be levied in the form of a
value added tax on all goods and services -in practice with some exemptions.
A value added tax exempts all inputs including capital goods. Hence, it becomes a general tax on
domestic consumption. It is a convenient and economically efficient way of taxing consumption. If it is levied at
a single rate and there are only very few exemptions, it becomes a proportional tax on consumption.
In order to ensure that the tax burden is distributed according to the consumption of different
individuals, it must be levied on the basis of the principle of destination, that is to say that the tax on a good
should go to the state in which the concerned consumer lives. This automatically takes place if the tax is levied
at only the central level, or if the state is a unitary one with only one level of taxation. In a federation, there are
special problems to be solved if GST is to be levied at the level of the states as well as the federal government.
II. Literature Review
Nishitha Guptha (2014) in her study stated that implementation of GST in the Indian framework will
lead to commercial benefits which were untouched by the VAT system and would essentially lead to economic
development. Hence GST may usher in the possibility of a collective gain for industry, trade, agriculture and
common consumers as well as for the Central Government and the State Government.
2. Does Goods And Services Tax (Gst) Leads To Indian Economic Development?
DOI: 10.9790/487X-171230105 www.iosrjournals.org 2 | Page
Jaiprakash ( 2014) in his research study mentioned that the GST at the Central and the State level are
expected to give more relief to industry, trade, agriculture and consumers through a more comprehensive and
wider coverage of input tax set-off and service tax setoff, subsuming of several taxes in the GST and phasing
out of CST. Responses of industry and also of trade have been indeed encouraging. Thus GST offers us the best
option to broaden our tax base and we should not miss this opportunities to introduce it when the circumstances
are quite favorable and economy is enjoying steady growth with only mild inflation.
Saravanan Venkadasalam (2014) has analysed the post effect of the goods and service tax (GST) on the
national growth on ASEAN States using Least Squares Dummy Variable Model (LSDVM) in his research
paper. He stated that seven of the ten ASEAN nations are already implementing the GST. He also suggested
that the household final consumption expenditure and general government consumption expenditure are
positively significantly related to the gross domestic product as required and support the economic theories. But
the effect of the post GST differs in countries. Philippines and Thailand show significant negative relationship
with their nation’s development. Meanwhile, Singapore shows a significant positive relationship.
It is undeniable that those countries whom implementing GST always encounter grows. Nevertheless,
the extent of the impact varies depending on the governance, compliance cost and economic distortion. A
positive impact of GST depends on a neutral and rational design of the GST such a way it is simple, transparent
and significantly enhances involuntary compliance. It must be actual, not presumptive, prices and compliance
control would be exercised through an auditing system.
III. Research Problem
The concept of Goods and Services Tax (GST) is the biggest tax reform in decades throughout the
world, but India has been taking baby steps to meet its target of rolling out goods & services tax (GST) on April
1, 2016. The research intends to focus on understanding concept of goods and service tax and its impact on
Indian economy.
IV. Objectives Of The Study
1. To study the concept of Goods and Services Tax (GST) and its impact on Indian Economy.
2. To understand how GST will work in India.
3. To know the advantages and challenges of GST in Indian context.
V. Research Methodology
The study focuses on extensive study of Secondary data collected from various books, National &
international Journals, government reports, publications from various websites which focused on various aspects
of Goods and Service tax.
VI. Concept Of Goods and Service Tax
GST is a comprehensive indirect tax on manufacture, sale and consumption of goods and services at
national level. One of the biggest taxation reforms in India the (GST) is all set to integrate State economies and
boost overall growth. Currently, companies and businesses pay lot of indirect taxes such as VAT, service tax,
sales tax, entertainment tax, octroi and luxury tax. Once GST is implemented, all these taxes would cease to
exist. There would be only one tax, that too at the national level, monitored by the central government. GST is
also different in the way it is levied — at the final point of consumption and not at the manufacturing stage. At
present, separate tax rates are applied to goods and services. Under GST, there would be only one tax rate for
both goods and services. The goods and services Tax will indeed be a further significant improvement towards a
comprehensive indirect tax reforms in the country. Integration of goods and services taxation would give India a
world class tax system and improve tax collections. It would end distortions of differential treatments of
manufacturing and service sector. GST is expected to create a business friendly environment, as price levels
and hence inflation rates would come down overtime as a uniform tax rate is applied. It will also improve
government's fiscal health as the tax collection system would become more transparent, making tax evasion
difficult.
The GST is expected to replace all the indirect taxes in India. At the centre's level, GST will replace
central excise duty, service tax and customs duties. At the state level, the GST will replace State VAT.
VII. GST – How It Works In India?
The GST system is based on the same concept as VAT. Here, set-off is available in respect of taxes
paid in the previous level against the GST charged at the time of sale. The GST model has some aspects which
are as follows:
3. Does Goods And Services Tax (Gst) Leads To Indian Economic Development?
DOI: 10.9790/487X-171230105 www.iosrjournals.org 3 | Page
Components: GST will be divided into two components, namely, Central Goods and Service Tax and State
Goods and Service
Applicability: GST will be applicable to all Goods and Services sold or provided in India, except from the list
of exempted goods which fall outside its purview.
Payment: GST will be charged and paid separately in case of Central and State level. Input Tax
Credit: The facility of Input Tax Credit at Central level will only be available in respect of Central Goods and
Service tax. In other words, the ITC of Central Goods and Service tax shall not be allowed as a set-off against
State Goods and Service tax and vice versa.
VIII. Impact Of GST on Indian Economy
The Goods and Service Tax (GST) bill is expected to have wide ranging ramifications for the
complicated taxation system in the country. It is likely to improve the country’s tax to GDP ratio and also inhibit
inflation. However, the reform is likely to benefit the manufacturing sector but may make things difficult for the
services sector.
Though there are expectations that the GDP growth is likely to go up by 1 to 2 %, the results can only
be analysed after the GST implementation. The response is mixed from countries around the world. While the
New Zealand economy had a higher GDP growth, it was lower in case of Canada, Australia and Thailand after
the GST was implemented.
The one per cent tax that has been proposed as a sop to appease the States for compensating their loss
of revenue from the inter-state CST is likely to play a spoil sport. It is probable that it may affect the GDP
adversely. The Congress is already opposing the 1 per cent tax.
The GS Tax rate is expected to be around 17-18% and can be assumed as a tax neutral rate. This tax
rate is not likely to give any incremental tax revenue to the government. The rate will prove beneficial for the
manufacturing sector where the tax rate is around 24% at present. The major manufacturing sectors that will
benefit the most are FMCG, Auto and Cement. This is because they are currently reeling under 24 to 38 per cent
tax.
The sector which is going to be adversely affected is the services sector. Already there has been a hike
from 12 to 14% from the 1st of June this year. Another 4 per cent increase will break their backs. The
uniformity in the taxation rate is fine but it should not result in disparity for the goods and services sectors.
Nobody has thought of the implications it will have in the services sector if the government moots a higher GS
Tax rate like 20% or 24%.
The higher GST rate will definitely boost the tax to GDP ratio, while giving financial muscle to the
government for increasing the capital expenditure. This is likely to spur growth in the economy.
There is definitely a silver lining to the whole exercise. The unorganised sector which enjoys the cost
advantage equal to the taxation rate can be brought under the GST bill. This will bring a lot of unorganized
players in the fields like electrical, paints, hardware etc. under the tax net. It is easier said than done. It will take
a lot of meticulous planning in the implementation of the GST reform for capturing the unorganized sector
under its ambit. For one it will widen the tax reach and secondly it will benefit the organized players who lose
out revenue to the unorganized sector at present.
There are still a lot of unchartered territories which need to be looked into through parliamentary
discussions in the sessions. This will bring sanctity to the taxation system without hurting any of the sectors
adversely.
To The Individuals and Companies - With the collection of both the central and state taxes proposed to
be made at the point of sale , both components will be charged on the manufacturing costs and the individual
will benefit from lowered prices in the process which will subsequently lead to increase in consumption thereby
profiting companies
IX. Advantages Of GST
Apart from full allowance of credit, there are several other advantages of introducing a GST in India:
Reduction in prices: Due to full and seamless credit, manufacturers or traders do not have to include taxes as a
part of their cost of production, which is a very big reason to say that we can see a reduction in prices. However,
if the government seeks to introduce GST with a higher rate, this might be lost.
Increase in Government Revenues: This might seem to be a little vague. However, even at the time of
introduction of VAT, the public revenues actually went up instead of falling because many people resorted to
paying taxes rather than evading the same. However, the government may wish to introduce GST at a Revenue
Neutral Rate, in which case the revenues might not see a significant increase in the short run.
4. Does Goods And Services Tax (Gst) Leads To Indian Economic Development?
DOI: 10.9790/487X-171230105 www.iosrjournals.org 4 | Page
Less compliance and procedural cost: Instead of maintaining big records, returns and reporting under various
different statutes, all assessees will find comfortable under GST as the compliance cost will be reduced. It
should be noted that the assessees are, nevertheless, required to keep record of CGST, SGST and IGST
separately.
Move towards a Unified GST: Internationally, the GST is always preferred in a unified form (that is, one single
GST for the whole nation, instead of the dual GST format). Although India is adopting Dual GST looking into
the federal structure, it is still a good move towards a Unified GST which is regarded as the best method of
Indirect Taxes.
The following are the some more salient features of the proposed pan-India Goods and Services Tax regime that
was approved by the Lok Sabha by way of an amendment to the Constitution:
1. GST, or Goods and Services Tax, will subsume central indirect taxes like excise duty, countervailing duty and
service tax, as also state levies like value added tax, octroi and entry tax, luxury tax.
2. 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.
3. As a measure of support for the states, petroleum products, alcohol for human consumption and tobacco have
been kept out of the purview of the GST.
4. It will have two components - Central GST levied by the Centre and State GST levied by the states.
5. However, only the Centre may levy and collect GST on supplies in the course of inter-state trade or
commerce. The tax collected would be divided between the Centre and the states in a manner to be provided by
parliament, on the recommendations of the GST Council.
7. The GST Council is to consist of the union finance minister as chairman, the union minister of state of
finance and the finance minister of each state.
8. The bill proposes an additional tax not exceeding 1% on inter-state trade in goods, to be levied and collected
by the Centre to compensate the states for two years, or as recommended by the GST Council, for losses
resulting from implementing the GST.
X. Challenges Of GST in Indian Context
At Present, lots of speculations are going as to when the GST will actually be applicable in India.
Looking into the political environment of India, it seems that a little more time will be required to ensure that
everybody is satisfied. The states are confused as to whether the GST will hamper their revenues. Although the
Central Government has assured the states about compensation in case the revenue falls down, still a little
mistrust can be a severe draw back.
The GST is a very good type of tax. However, for the successful implementation of the same, there are
few challenges which have to face to implement GST In India.
Following are some of the factors that must be kept in mind about GST:
1. Firstly, it is really required that all the states implement the GST together and that too at the same
rates. Otherwise, it will be really cumbersome for businesses to comply with the provisions of the law.
Further, GST will be very advantageous if the rates are same, because in that case taxes will not be a
factor in investment location decisions, and people will be able to focus on profitability.
2. For smooth functioning, it is important that the GST clearly sets out the taxable event. Presently, the
CENVAT credit rules, the Point of Taxation Rules are amended/ introduced for this purpose only.
However, the rules should be more refined and free from ambiguity.
3. The GST is a destination based tax, not the origin one. In such circumstances, it should be clearly
identifiable as to where the goods are going. This shall be difficult in case of services, because it is not
easy to identify where a service is provided, thus this should be properly dealt with.
4. More awareness about GST and its advantages have to be made, and professionals like us really have to
take the onus to assume this responsibility.
XI. Conclusion
Tax policies play an important role on the economy through their impact on both efficiency and equity.
A good tax system should keep in view issues of income distribution and, at the same time, also endeavour to
generate tax revenues to support government expenditure on public services and infrastructure development.
The ongoing tax reforms on moving to a goods and services tax would impact the national economy,
International trade, firms and the consumers There has been a good deal of criticism as well as appraisal of the
proposed Goods and Services Tax regime. It is considered to be a major improvement over the pre-existing
central excise duty at the national level and the sales tax system at the state level, the new tax will be a further
significant breakthrough and the next logical step towards a comprehensive indirect tax reform in the country.
GST is not simply VAT plus service tax, but a major improvement over the previous system of VAT and
5. Does Goods And Services Tax (Gst) Leads To Indian Economic Development?
DOI: 10.9790/487X-171230105 www.iosrjournals.org 5 | Page
disjointed services tax – a justified step forward. A single rate would help maintain simplicity and
transparency by treating all goods and services as equal without giving special treatment to some ‘special’ goods
and/or services. This will reduce litigation on classification issues. It is also expected that implementation of
GST in the Indian framework will lead to commercial benefits which were untouched by the VAT system and
would essentially lead to economic development. Hence GST may usher in the possibility of a collective gain
for industry, trade, agriculture and common consumers as well as for the Central Government and the State
Government.
Sooner or later, the GST will surely knock the doors of India. And when that happens, we as future
torch bearers of the profession are required to be prepared and fully equipped with our knowledge regarding
GST. Forewarned is forearmed. Thus, we must be ready to deal with GST and many other changes that are
going to take place in India. Slowly, India shall move to join the world wide standards in taxation, corporate
laws and managerial practices and be among the leaders in these fields.
References
[1]. Khan, M., & Shadab, N., Goods and Services Tax (GST) in India: prospect for states. Budgetary Research Review, 4(1), 38–64.n.d
[2]. Vasanthagopal, R., GST in India: A Big Leap in the Indirect Taxation System. International Journal of Trade, Economics and
Finance, 2(2), 144–147, 2011.
[3]. The Empowered Committee Of State Finance Ministers (2009), First Discussion Paper On Goods and Services Tax In India,
November 10, 2009.
[4]. Nakhchian, A., Gorji, N., Shayesteh, T., & Sheibany, E., Value Added Tax and Its Relationship With Management Information
Technology. Interdisciplinary Journal of Contemporary Research in Business, 4(9), 402–410, 2013.
[5]. Cnossen, S., Preparing the way for a modern GST in India. International Tax and Public Finance, 20(4), 715–723, 2013.
http://dx.doi.org/10.1007/s10797-013-9281-0
[6]. Nishita Gupta, Goods and Services Tax: Its implementation on Indian economy, CASIRJ Volume 5 Issue 3 [Year - 2014] ISSN
2319 – 9202, Pg. No.126-133.
[7]. Saravanan Venkadasalam, Implementation of Goods and Service Tax (GST): An Analysis on ASEAN States using Least Squares
Dummy Variable Model (LSDVM)International Conference on Economics, Education and Humanities (ICEEH'14) Dec. 10-11,
2014 Bali (Indonesia), Pg No. 7-9
[8]. http://www.indiataxes.com/Information/VAT/Introduction.htm
[9]. http://www.taxmanagementindia.com/wnew/detail_rss_feed.asp?ID=1226
[10]. www.goodsandservicetax.com