Customers’ awareness on Goods and Service Tax (GST)
The investigators are intended to study the customers’ perception on Goods and Service Tax (GST). The method of study was survey and collected data from thirty respondents from that area. The main objectives of the study are to study the perception of customers on the different aspects of GST and to study if there any significant differences among customers’ perception according to gender, age, educational qualification and income level. The major findings are the customers have positive attitude and there is no significant differences between customers according to gender, age, educational qualification and income level. The research paper is regarding impact of GST on Indian Economy. With the introduction of GST there is a condition chaos and confusion among common man. The aim this research paper is to explain the mechanism of GST and its effects on Indian economy. In India, the idea of GST was contemplated in 2004 by the Task Force on implementation of the Fiscal Responsibility and Budget Management Act, 2003, named Kelkar Committee. The Kelkar Committee was convinced that a dual GST system shall be able to tax almost all the goods and services and the Indian economy shall be able to have wider market of tax base, improve revenue collection through levying and collection of indirect tax and more pragmatic approach of efficient resource allocation. Under the Goods and Service Tax mechanism, every person is be liable to pay tax on output and shall be entitled to enjoy credit on input tax paid and tax shall be only on the amount of value added. The historic GST or goods and services tax has become a reality.