Impact of GST On Construction Companies

Project report on “IMPACT OF GST ON
CONSTRUCTION COMPANIES”
(2019-2020)
Submitted by:
Ayush Chaurasia
Roll No. – 1180672039
INTRODUCTION
Introduction In Construction industry, there has continually been a want to
improvise the manner of working to achieve higher results, saving in time, power
and price. In doing so, there are lot of shortcuts taken, lots of time saving sports are
conducted which results in inadequate records regarding all additives of the
projects. There are tremendous topics which are actually absent with reference to
documentation of all the undertaking information on of entirety of mission. In
these sort of things, there exists a scope of improvement, to be able to regularize
this, the finance ministry has placed up Goods & Service Tax (GST) so that you
can regularize the development quarter. Introduction of Goods & Service Tax
(GST) with the useful resource of the government of India has led to a whole lot of
ambiguity within the Construction industry due to the fact it’s now not only a new
aspect to cope with however, it'll additionally regularize the so called
“Unorganized Sector”.
To arrive at a conclusion, detailed studies starting from the gestation segment to

the handover segment might depict in detail in which are the vicinity of mission in
which the cost of task has affected due to GST implementation. These research
now no longer nice offer a clearer photo of what all place of problem are to be seen
to take away the unnecessary rate but it's going to moreover assist the assignment
manager to analyze and form such schedules which might be met with as
consistent with the scheduled rate and time frame to nullify the results of rate
variation within the constructing creation enterprise. So, to get a clear photograph
of increase or lower in rate due to GST, detailed take a look at of a undertaking
earlier than and after GST is carried out for a take a look at in rate variation.
A unmarried tax structure is definitely a welcome move and the introduction of

Goods and Services Tax (GST) seeks to do just that by way of amalgamating a
massive range of Central and State taxes into a unmarried tax. GST will now no
longer handiest deal with the concerns of double taxation but will even assist in
reducing the overall tax burden on gadgets and services. Furthermore, it'll
additionally help in making Indian gadgets competitive internationally for that
reason supplying a much-wished boost to the economy.
The Real estate enterprise is truly considered one of the most pivotal sectors in
India and has seen an awesome growth, not simply in cities, however even small
towns. GST is another development in an effort to have a extremely good impact
on this zone. Let’s take a look at the impact of GST on the improvement enterprise
and the real zone.
Transparency and Accountability: - GST will lend an entire lot of transparency in

the actual belongings zone whilst additionally gambling a main position in
minimizing unscrupulous (black money) transactions. Currently, there can be a
huge percentage in each projects in which expenditure goes unrecorded at the
books. GST through curtailing the workout of fake billing on purchase-factor will
help reduce down coins element in creation, which in turn, will assist in boosting
stakeholders’ confidence
Input Tax Credit :- Although the GST rate of 18% at the deliver of works contract
in the construction region can be better than the preceding rates, the regime of
neighborhood composition schemes is over, even though now they are eligible for
complete input tax credit score score. However, some of the listed manufacturing
offerings consisting of homes of dams, roads etc. Which have been formerly
exempted are now under the GST purview. This basically manner the
commonplace creation contract in the preceding regime which used to hover across
the 11–18% variety is now chargeable at a flat charge of 18%. As a remember of
fact, if you take exempted services into consideration, this marked distinction is
extra pronounced, like certain infrastructure services aren't any greater exempt in
current regime. Having stated that, thanks to the availability of enter tax credit
score, the improvement quarter is anticipated to advantage in the prolonged run.
This is due to the fact, under the GST regime, the input tax credit score on the raw
materials could bring about an everyday independent tax occurrence for
construction services. Additionally, with GST, real belongings developers will
have get admission to to unfastened enter tax credit on GST paid for services and
goods purchased by manner of them at the identical time as the price of GST on
outward supply is 12% together with the value of land. As the inward deliver
consist of many a items with more than 12�e, it's far predicted not a very notable
coins go together with the go with the flow will involve in paying GST on outward
deliver. This will now not high-quality assist in lowering the fee for the developers
but thanks to this, they are able to even skip at the benefit of those credits as a
reduction to potential clients.
The widespread factor is it takes away the ambiguities of pre-GST regime, and
resultant litigation, thus far as the indirect taxation on real estate is concerned.
Compliance and Efficiency :- Thanks to the abolition of various central, nation•

and neighborhood taxes, GST will allow quicker and less complicated switch of
goods amongst states.By implementing a uniform tax shape,the whole actual
property region will stand to gain consequently improving the tax compliance.
GST will even inadvertently replace maximum oblique taxes, with a single tax,
thereby making sure an universal green taxation system.
Double Taxation :- The Real estate region become plagued with severa issues•
regarding a couple of taxation which amounted to over 25 percentage in oblique
taxes. GST will harm the shackles of double taxation thru freeing home purchasers
and investors from the trouble of paying numerous country taxes at one-of-a-kind
levels. Stamp
Duty and Registration :- The closing hurdle is that Stamp responsibility is• no
longer to be subsumed under GST and therefore will maintain as it's miles today.
There is not any provision for input tax set off available for the stamp
responsibility paid for the land which basically is going in the direction of the
entire premise of GST. Moreover, there can be no change in registration expenses
as well on real property sale transactions. The silver lining as such is that GST will
subsume the provider tax and fee introduced tax (VAT) charges which were
payable on sale of beneath manufacturing properties.
GST Advantages
1. GST is a obvious tax and also lessen range of oblique taxes.
2. GST will not be a rate to registered retailers therefore there might be no hidden
taxes and the fee of doing commercial company can be lower.
3. Benefit people as prices will come down which in flip will assist organizations
as intake will boom.
4. There isn't any doubt that in manufacturing and distribution of products,

offerings are increasingly more used or consumed and vice versa.
5. Separate taxes for goods and services, which is the triumphing taxation system,
calls for department of transaction values into cost of products and offerings for
taxation, main to more complications, administration, together with compliances
costs.
6. In the GST system, whilst all the taxes are integrated, it might make feasible the
taxation burden to be break up equitably between manufacturing and offerings.
7. GST can be levied first-rate on the final holiday spot of intake based on VAT
precept and no longer at diverse points (from production to retail outlets). This will
help in removing monetary distortions and bring about development of a not
unusual national market.
8. GST will also help to assemble a apparent and corruption loose tax
administration.
9. Presently, a tax is levied on when a completed product moves out from a

factory, that is paid through the manufacturer, and it is again levied on the retail
outlet even as sold.
10. GST is subsidized with the aid of the GSTN, that's a fully protected tax
platform to address all factors of GST
Overall, GST is anticipated to assist supply an entire lot of required transparency

and accountability. Moreover, as a result of the predicted loose go along with the
go with the flow of credit score, builders ought to have the ability to experience an
increase in typical margin. Whether those advantages trickle down to the clients is
however to be seen because the pricing on this sector has a tendency to be dictated
by manner of marketplace forces in preference to costing policies. Looking from
the customer factor of view, the one primary gain might be in terms of decrease
inside the popular tax burden on gadgets and accelerated transparency in tax
system. GST will also assist in getting rid of useless paperwork on the equal time
as casting off time wastage spent through accurate 11 suppliers at severa united
states of america borders. One difficulty for superb is, the impact of GST may be
felt albeit after a at the equal time as.
Impact of GST on real estate
The manufacturing of a complicated building, civil structure, or a factor thereof,

intended on the market to a buyer, entirely or partly, is difficulty to 12 in line with
cent tax with entire enter tax credit rating (ITC), scenario to no refund in case of
overflow of ITC. In different words, residential manufacturing services, will invite
GST on the charge of 12 consistent with cent, with a purpose to have a look at to
developers selling residential gadgets in advance than final touch of introduction to
the house customers.
According to the JM Financial document on GST, for states with non-composite

VAT (Karnataka, Tamil Nadu, Andhra Pradesh), the transaction cost modifications
marginally from 10-11% to 12�neath the modern-day regime. With input price
credits available, developers in the ones areas also can witness improvement in
margins in case no charge revision takes place (situation to the anti-profiteering
clause)
Abhishek Anand, assistant vice-president (Equity Research), JM Financial Ltd,

explains: “In the contemporary regime, states with composite VAT require
developers to pay lower VAT prices at the entire assets price with none input tax
advantage (Maharashtra, Haryana) or partial gain (intra u . S . A . offset-
Bangalore). Under this regime, developers skip on the transaction charge – VAT
(1%) and provider tax (4-5%) to consumers (general 5-6%). Developers get offset
for only the input provider tax aspect. In the GST regime, the transaction rate will
boom to 12%, with enter credit score rating to be had on both, offerings and
material. Property transaction prices will increase by the usage of 6%, in case no
enter credit rating is handed on through developers. If builders pass on the enter
credit score to consumers, the property charge growth can be restrained to 1-2%.”
If the builders skip at the credit definitely and convey down the base prices, then,
domestic buyers may additionally marginally advantage under the GST regime.
Nevertheless, stamp duty will continue to be applicable, regardless of whether or

not the assets is under-production or constructed, in the pre-GST and post-GST
regime.
Will GST help home consumers?
With the introduction of the Goods and Services Tax (GST), the entire occurrence
of tax will growth from 5.5 according to cent to 12 in line with cent. However,
builders should be capable of avail of input credit score, on all the goods and
offerings purchased and spent inside the production of the belongings.
Shrikant Paranjape, president of CREDAI Pune Metro, continues that “The effect
of the GST on property expenses, can be hard to gauge at this stage due to the
shortage of clarity on abatement for land fee. In a product, wherein the
fundamental raw material isn't covered by the GST and the completed unit is also
no longer blanketed through the GST, the tax enter benefit can be tough to
calculate or justify. Only the marketplace forces, the ready reckoner expenses and
time, will determine whether or not and the way much advantage can be passed on
thru the builders to the purchasers.”
Moreover, the expenses of enter materials also can be volatile. Cement and steel
expenses can soar, with out warning. Similarly, sand is constantly in quick supply
and now not to be had within the monsoons. Hence, it is probable that these
industries also can no longer bypass at the entire gain of tax credit. Another vital
aspect that wants to be examined, is the extent of production. If the challenge is at
an advanced stage, where considerable fee has already been incurred in advance
than the software program of the GST, very little enter credit may be available and
very less advantage can be passed on. If the venture is at an early degree, extra
blessings may be handed on.
GST on below construction assets – Affordable housing
It is critical to notice that if GST exemption is prolonged to less luxurious housing

projects (cheap housing is presently exempted from service tax and a explanation
is anticipated from the authorities for exemption from GST), then, less costly
homes may also additionally grow to be cheaper under the GST regime.
Government directs developers not to fee GST on less costly housing
The authorities, on February 7, 2018, asked developers now not to price any Goods
and Services Tax (GST) from domestic consumers, due to the fact the powerful
GST rate on nearly all less pricey housing initiatives is eight in step with cent,
which may be adjusted towards the input credit score. It said developers can levy
GST on buyers of low-cost housing projects, excellent if they reduce the apartment
fees after factoring in the credit score rating claimed on inputs.
In its remaining meeting on January 18, 2018, the GST Council had prolonged the
concessional price of 12 in keeping with cent GST, for manufacturing of houses
under the Credit Linked Subsidy Scheme (CLSS) to promote cheap housing, which
has been given infrastructure fame in 2017-18 Budget. The effective GST charge,
however, comes proper all the way down to eight in step with cent, after deducting
one-0.33 of the quantity charged for the house/flat, toward land charge. This
provision was effective from January 25, 2018.
Impact of GST on property prices – Luxury segment
In the case of a pinnacle price properties, even as the basic production fee may
additionally come down a little, but due to the fact the input tax credit is restricted
to 12 in keeping with cent, it will not be enough to bring down the clean tax legal
responsibility to nil because of the taxes paid on different expenditures.
GST rates for real estate – Input materials
HSN Description of goods Rate
Chapter 72 Steel 18 per cent
2523 Cement 28 per cent
6802 Marble and granite 28 per cent
2515 Blocks of marble and granite 12 per cent
Chapter 68 Sand lime bricks and fly ash bricks 12 per cent
2505 & 2517 Natural sand, pebbles, gravel 5 per cent
8428 Lifts and elevators 28 per cent
Under the tax regime, among the creation materials are beneath the 18 and 28
steady with cent slab. For example, steel and metal merchandise, are mostly in
the 18 in keeping with cent segment and cement and prefabricated structural
components for building or civil engineering, are within the 28 in line with
cent slab. However, due to the fact the enter tax credit score is available on
merchandise utilized for production, the overall tax occurrence have to be
neutralized
Reverse fee mechanism in GST and its effect on advent expenses

The mechanism, in which the recipient of services pays the service tax, is
called as ‘opposite price mechanism’ (RCM). The same concept, with wider
application, has been borrowed from the service tax legal pointers within the
Goods and Services Tax (GST) regime.
A developer has to pay GST on services availed, like those furnished by way
of the use of someone who's located in a non-taxable place, offerings furnished
via the usage of items transporters, legal services furnished with the useful
resource of an individual or firm, etc. The developer additionally has to pay
GST under the opposite fee mechanism, on the offerings supplied by using
way of government or local authorities, like municipalities, etc. Nevertheless, a
number of the offerings provided with the useful resource of the authorities,
like renting of premises, unique offerings provided via the postal authorities,
transport of products by railways or with the resource of kingdom shipping
undertakings, etc., are out of doors the scope of the GST, just like the provider
tax regime.
A top notch departure under the GST legal pointers, as compared to the
erstwhile service tax provisions, is that underneath the alternative price
mechanism in GST, someone who's registered underneath the GST has to pay
GST on all the services and items which might be procured from a person who
is not registered beneath GST.
This has extensively increased the scope of the opposite price mechanism for
all taxable individuals and it's going to adversely have an impact on the
builders. Moreover, the tax payable beneath the opposite price mechanism
underneath the GST, can not be adjusted through the developer against the
enter credit available from the GST paid at the inputs, but wishes to be paid
through cash/bank fee.
So, beneath the GST, the developers are worse off, because of the dual effect
of the levy of GST at the services availed from unregistered character, as well
as the requirement to 15 discharge the opposite tax on gadgets obtained from
unregistered suppliers.This will surely growth the expenses for the developer,
specially the small developers who were availing items and services from
unregistered suppliers earlier and had been not bearing the value of taxes to
that quantity.
GST on geared up properties
If the OC for the assignment has been acquired, then, no GST can be relevant.
A CRISIL report factors out that at present, a developer will pay excise tax and
VAT, on inputs like cement and metal, at 27.7 in step with cent and 18.1
constant with cent, respectively, which variety from nation to us of a. Now,
below the GST regime, cement and metal is probably taxed at 28 in step with
cent and 18 in step with cent, respectively, on the equal time as distinctive
inputs like paint and white goods, could be taxed at 28 consistent with cent.
The very last product – the housing unit – might be taxed at 12 consistent with
cent, with credit for taxes paid on inputs. As the tax levied at the whole cost
which consist of the land may be 12 in line with cent, the quantity may want to
be sufficient to provide for the input credit rating for developers. Hence, a
patron choosing a equipped-to pass-in condo, is stored from the tax burden.
However, the tax calculations under the GST regime, for the actual estate
marketplace, are not so simple. For example, the GST on below-introduction
responsibilities might be charged to domestic customers on the sale price but
the credit score may be availed via the developers, only on the fee of
production. As the builder will need to pay the GST at the full challenge and
the enter availed is most effective at the advent fee, there may be a hollow that
is no less than 30 in line with cent. Consequently, whether or not you choose
an below-construction belongings or prepared-to-float-in unit, the developer
will hike the fees in that proportion, to make sure this hole is bridged.
GST on assets rentals
“Credit/set-off of input GST is available to a developer, if the sale is achieved
previous to acquiring the final touch certificate or previous to first occupancy.
However, this credit score is not allowed if the developer chooses to hire out
the property. Hence, we would see a spike in business rentals,” explains Amit
Sarkar, accomplice and head – indirect taxes, BDO India.
GST has moreover been levied at the renting of residential belongings, to be
used as an accommodation. Consequently, tenants may additionally moreover
witness a hike in rent payment beneath the GST system, as there may be no
provider tax applicable on residential properties, within the present system.
Here’s how the GST will impact the tax computation on condominium
earnings:
With the clubbing of taxes on items and services, underneath the GST regime,
the confusion approximately levy of separate tax on issuer and goods is
finished away with.
Unlike below the carrier tax regime, the brink restrict for applicability of GST
has been elevated from Rs 10 lakh to Rs 20 lakh. So, a number of the landlords
who had been covered under the provider tax regime, will exit of the oblique
tax net, under the GST.
It can be thrilling to be aware that for the purpose of computing the
combination restrict of Rs 20 lakhs below the GST, all of the taxable, in
addition to exempt goods and services furnished, will be taken into
consideration. So, unlike the carrier tax regime, where it's far most effective
the taxable offerings, which are considered for determining whether or now not
you've got crossed the primary threshold, under the GST, the rate of all of the
issuer and items supplied in India, as well as exported, whether or not taxable
or exempt, are considered for the Rs 20-lakh restriction. The GST is proposed
to be levied at 18 according to cent, on the letting-out of commercial
properties.
There is one greater fundamental tax implication below the GST, with
appreciate to rent on business properties. The parliament has borrowed the
concept of ‘reverse fee mechanism’ from the carrier tax regime, under the
GST. However, no longer like in the provider tax regime, in which the
opposite rate mechanism is applicable in case of offerings and isn't prolonged
to the sale or manufacturing of goods, the equal is made applicable for items in
addition to services, below the GST regime. A character who's registered
underneath GST, who receives factors of products or services from a person
who is not registered below GST, will have to pay the GST underneath the
reverse rate mechanism. Under the provider tax regime, there is no provision
of reverse mechanism, with recognize to the rent paid with the aid of the
lessee. The proposed GST provisions, because of the multiplied charge and the
levy below the opposite mechanism, will eventually make it greater highly-
priced to take any industrial premises on rent.
Will GST make domestic loans high priced?
Before evaluating the probably effect of the GST on home loan fees, it is miles
crucial to recognize the additives with a purpose to be impacted with the aid of
the extended charges below the GST. The main fee of taking a domestic loan,
is the interest charge on the cash. This fee will no longer exchange, as there
may be no provider tax or GST on it. Similarly, any stamp obligation charged
in connection with the documentation of the home mortgage, will now not
exchange with the GST, as stamp obligation is not subsumed beneath the GST.
However, there are various prices which can be levied thru creditors on
domestic loans. First and maximum critical is the processing fee that is paid on
the time of taking the home loan. At gift, it's miles 15 constant with cent but
it'll bypass up with the aid of using three according to cent beneath the GST, to
18 in line with cent. This is normally a one-time fee and its typical impact on
your house loan tenure, might be insignificant. The banks may additionally
moreover recover distinct prices like endorse prices, valuation prices, etc., in
connection with the house mortgage, with a purpose to pass up proportionately.
Like the processing rate paid on the time of application, you should want to
pay prepayment prices, in case making a decision to prepay the house
mortgage earlier than the final touch of its tenure or shift the home mortgage to
every other lender. This is usually payable; in case the residence mortgage is
taken below a constant rate of hobby. For floating charge home loans, banks
can't levy any prepayment prices. Housing finance companies can, however,
levy the prepayment expenses, if you make a decision to shift the house
mortgage to a few other lender. However, for fee of the home mortgage from
your private resources, the housing finance corporations cannot levy any
prepayment expenses.
The creditors can moreover fee you for any EMI default, both due to return of
the cheque or ECS go back, on which the GST charges will go up. So, it's
miles almost on all the charges that are recovered via the creditors that the
GST charges will pass up thru three in keeping with cent.
How are banks laid low with the GST?

The implementation of the GST, will bring a few tax financial savings for the
creditors, because the enter credit with admire to the services availed, similarly
to goods purchased, may be to be had for set off, in competition to the GST
output taxes liability. However, the opposite fee mechanism, that's borrowed
from the provider tax regime and that's elevated beneath the GST, will
adversely have an effect on the profitability of banks. Moreover, lenders at the
moment are required to sign on in all the country under the GST, whereas,
under the carrier tax regime, they may have obtained one centralised
registration. This will notably growth the compliance fees of the creditors and
feature an impact on their profitability
Grey areas in the GST that could determine the final rate of properties
It is still now not clear what is going to be the abatement available for the land
price, for calculating provider tax on below-manufacturing initiatives. The
abatement rules, as applicable below the service tax regime and the enter tax
credit score facility for builders, will decide if the effective tax prevalence on
real belongings, is lower or higher beneath GST.
Effectively, the composition scheme taking into account abatement in
competition to fee of land to the quantity of seventy five in keeping with cent
of the residence value, for residential gadgets priced underneath Rs 1 crore and
much less than 2,000 sq ft, makes the powerful price at three.75 in step with
cent. In other cases, the abatement goes all of the way right down to 70 in step
with cent, making the powerful price at 4 constant with cent. This will move a
long manner, in determining whether GST is tax independent or tax destructive
for actual property.
In addition, as states have one of a type state-diploma taxes, the implication of
GST might not be uniform, at some stage in all states.
Strong case for bringing actual estate under GST: Finance minister Arun
Jaitley
Finance minister Arun Jaitley, at the same time as turning in a lecture at
Harvard University on October 12, 2017, has stated that the real estate area
want to, ideally, be delivered under the ambit of the Goods and Services Tax
(GST). “The one zone in India, in which maximum quantity of tax evasion and
cash generation takes area and which remains outside the GST, is actual
belongings. Some of the states have been pressing for it.
I personally consider that there may be a robust case to bring real property into
the GST,” Jaitley stated. The finance minister said the circulate may want to
gain customers, as they'll simplest need to pay one final tax on the entire
product. “As a end result, the final tax paid at the complete product under the
GST, may almost be negligible,” he stated.
Will GST on actual belongings benefit domestic shoppers and the zone?
There are many problems and gray zones that want to be ironed out, before
GST becomes a reality in actual property. Niranjan Hiranandani, president of
NAREDCO, continues that bringing real estate under GST’s ambit, will
advantage the customers who will most effective want to pay one very last tax
on the whole product.
However, if the GST slab for real belongings is finalised above 12 in step with
cent, then, home customers and builders may take a hit, at a time at the same
time as belongings fees are already unaffordable in plenty of places.
Moreover, the finance minister will additionally have to steer states to come
returned on board, to create a consensus. This maybe especially hard, in states
where actual estate transactions are foremost source of sales for the state,
through stamp obligation and belongings registrations.
One one year of GST: Gains and losses
Home buyers in the cheap housing segment, specifically, houses of as much as
60 sq metres carpet location in size, have benefited extensively from the
discount of GST with the aid of 4 in line with cent (from 12 in keeping with
cent to eight in step with cent).
However, even nearly a twelve months after GST’s implementation, the most
effective real clarity that exists for belongings clients is on the prevailing GST
rate of 12 steady with cent, on under introduction initiatives. There continues
to be confusion about the quantity of rebate that a prospective home client is
entitled to, on the lower back of the pass-over of ITC. The confusion is not
most effective approximately the share of ITC however moreover on the mode
and tranche of the rebate. On their part, builders are stating that they have to do
multiple calculations, to reach at ITC and will pass it on, simplest at some
point of the final tranches.
GST is actually lowering developers’ production fees, through negating double
or triple taxation to a more mild level, through input tax credit score. While
there are no widespread variations within the regular taxes, GST has surely
eliminated the tax-on-tax system. Also, shady transactions are being minimised
notably, bringing in transparency and obligation into the place.
However, stop-customers have not received a consummate gain because of the
inherent ineffectiveness of the anti-profiteering provisions. They will best
benefit, if the base property costs are reduced and the developers pass at the tax
credit to their clients. While the tax-on-tax has been eliminated with the arrival
of GST, the overall outgo from domestic clients’ wallet seems to have
elevated, considering that even after passing on of ITC, they'll need to pay
three to four in line with cent extra than in the earlier provider tax + VAT
regime.
GST on maintenance fees of housing societies

Under the sooner carrier tax regime, housing societies were required to test in
themselves under the regulation of provider tax, if the aggregate of
maintenance fees levied by means of the housing society handed Rs 10 lakhs in
a financial yr. However, under the Goods and Services Tax (GST) regime, this
restrict has been doubled to Rs 20 lakhs. So, if the aggregate of maintenance
fees levied with the aid of the housing society exceeds the threshold of Rs 20
lakhs in a economic yr, it has to test in itself underneath the GST legal
recommendations and benefit a registration number.
While computing the restrict of Rs 20 lakhs, even the exempt gadgets like
recuperation of assets tax and electricity costs from the member, are to be
taken underneath consideration. So, a housing society has to acquire GST from
its members, if the aggregate of the charges sooner or later of a economic
(whether difficulty to GST or no longer) exceeds Rs 20 lakhs. Even though the
edge restrict for registration is Rs 20 lakhs for a housing society, it isn't
required to levy GST, if the amount of maintenance charge for each of the flat
or workplace does not exceed Rs 7,500 for a month.
GST now not relevant on sale of flats after hassle of crowning glory
certificates, Finance Ministry clarifies
The Finance Ministry, on December 8, 2018, said the GST will no longer be
levied on clients of actual property properties, for which the of completion
certificate is issued on the time of sale. However, the Goods and Services Tax
(GST) is probably relevant on sale of below-production property or equipped-
to-skip-in flats, in which the finishing touch certificate isn't always issued on
the time of sale, it stated.
“It is introduced to the awareness of buyers of constructed belongings that
there may be no GST on sale of complex/ constructing and equipped-to-
circulate-in flats, in which the sale takes vicinity after the issue of the
completion certificate with the aid of the able authority,” the ministry stated in
a statement.
It in addition stated much less steeply-priced housing duties like Jawaharlal
Nehru National Urban Renewal Mission, Rajiv Awas Yojana, Pradhan Mantri
Awas Yojana or a few different housing scheme of state governments, trap
eight in step with cent GST, which can be adjusted by way of the builders in
the direction of its accrued enter tax credit score score (ITC).
For consumers, this means that both their buy charge will growth, in the event
that they determine to shop for such a belongings, or the overall spread of
alternatives will reduce. After all, now not all unsold equipped-to-float-in
properties may also possess a crowning glory certificates.
Developers, on the other hnd, may be left with no choice however to take in
the GST costs in equipped-to-skip tasks that have not been given very last
touch certificate. If they are trying to skip this more burden immediately to
their clients, their equipped-to-go with the flow-in gadgets that do not have of
entirety certificates is probably at par with underneath-creation tasks, in
phrases of the rate to clients. The burden of unsold inventory within the
number one market is likely to boom, as greater domestic buyers might also
moreover now do now not forget looking for resale gadgets, which can be
exempt from GST.
However, this announcement may be a blessing in disguise for the secondary
market, as clients eyeing prepared-to-circulate-in gadgets will now honestly
examine this option, in place of paying 12 consistent with cent GST on first
purchase devices.
Unfinished home GST hurts

The items and services tax (GST) on real property projects below
manufacturing is squeezing the coins go together with the drift of realtors as
many shoppers are looking for finished houses or selecting antique ones to
break out the tax, a couple of stakeholders have advised The Telegraph.
Buyers of below-production properties, inclusive of flats, throughout the united
states of america are being requested to pay as GST 12 in step with cent of the
agreement value. But no GST is levied after the undertaking obtains the
crowning glory certificates.
The GST is absolutely paid to the authorities by the builder who receives cash
again on his inputs. Under ordinary circumstances, the builder want no longer
have surpassed at the entire GST to the consumer due to the refunds.
But the hassle has arisen due to the way the venture fee has been damaged up.
Land charge is fixed at one-1/3 or 33 in keeping with cent of the mission price
and is saved out of the GST fee.
But in cities and on their peripheries, land money owed for a bigger percentage
of the value. In a task in which land cost is more than 33 consistent with cent,
the deduction keeps to live at one 1/3 of the price. This way that builder
receives taxed for a portion of the cost for which he does not get cash returned,
and he passes that on to the purchaser.
The actual property marketplace circumstance has ensured that the purchaser
can now locate the cash for to wait. A perceptible stagnation inside the assets
marketplace has convinced clients that there is little chance in looking ahead to
a challenge to be completed. In a rising marketplace, customers near gives as
early as viable for worry that the costs will upward thrust by the point a
challenge is completed.
Along with the stamp responsibility and the registration fee of 7.1-8.1
consistent with cent and the 12 consistent with cent GST, the cumulative
occurrence of tax is going above 19 consistent with cent for an below
manufacturing project. Before the GST modified into launched, a company tax
changed into levied further to the stamp responsibility and the registration fee.
But the carrier tax price became exceptional 4.5 in keeping with cent.
“Why pay greater once I can hold on GST, which may be quite massive for a
premium belongings?” asked Abhik Mitra, an funding planner with the
National Stock Exchange, who currently offered a equipped-to-flow into-in
condo in a project off EM Bypass.
A Kasba resident said he favored two below-construction duties within the
neighbourhood but balked at the threat of paying the GST. He ended up
shopping for a 15-365 days-antique flat.
“My own family members were in the direction of purchasing for an vintage
assets. But I went ahead. Although I must spend on refurbishing the flat, the
value is still lower since I didn’t need to pay the GST,” he stated.
Real belongings players defined it as a “difficult environment”. “It is pretty a
difficult environment. Buyers are within the wait-and-watch mode, especially
for tasks that can be introduced inner a three hundred and sixty five days. Since
property charges are not showing runaway increases, the clients are prepared to
play the geared up game,” said Harsh Patodia, chairman and handling director
of Unimark Group, a companion within the Trump Tower undertaking in
Calcutta.
The postponement of the closure of gives is having an negative impact at the
cash go with the glide. The finishing work in advance than the handover
constitutes close to forty to 60 according to cent of the cost builders bear.
The restricted cash go with the float is forcing developers to dig into their
reserves to complete projects.
Banks, cautious of non-performing belongings in production, are unwilling to
lend readily. Non-banking finance corporations, which performed saviour for
realtors within the absence of banks, too are going thru a liquidity crunch and
have grow to be thrifty.
A famous undertaking on EM Bypass near Ruby Hospital determined its
profits tripling after it received the finishing touch certificates from municipal
authorities earlier this 12 months. But till then, it had to attend to a coins glide
problem.
The identical rule implemented to the carrier tax additionally however for the
motive that tax become no longer so steep due to the fact the GST, it did now
not have as high an impact as the brand new levy.
Besides, new regulation has closed a loophole some builders and shoppers
have been exploiting. They were flirting with the technique of leaving the sale
agreement unregistered at the equal time as production turned into taking
region to keep away from paying the carrier tax and, after June 30 final 12
months, the GST. However, the Real Estate Regulatory Authority (Rera),
introduced in advance this one year in Bengal, made registration of the sale
agreement mandatory.
Nandu Belani, president of the builders’ association Credai (Bengal), isn't
complaining about costs. “In a mature marketplace, fees must no longer
circulate up fast. But income should happen, which has been hit badly because
of the GST. The cash drift need to be there,” he stated.
In order to rush up sales, some developers are absorbing the GST and
offsetting the loss with the input tax credit rating acquired on the materials
(cement, bricks, etc) consumed or contracts given. Some builders are reducing
the expenses to cushion the purchaser from the tax.
Sushil Mohta, past president of Credai Bengal and proprietor of Merlin
Projects, underscored the hassle that limits builders’ potential to skip at the
gain with out squeezing the income margin. Mohta stated: “In Calcutta proper,
the land component within the total undertaking fee is much higher than one-
0.33. The better the land fee, the decrease our ability to pass at the advantage
of the abatement to the clients. This is why high-stop initiatives are suffering
the most and new launches have come down.”
Basant Parekh, coping with director of Orbit, which gives in premium and
luxury initiatives, stated that buyers had disappeared. “Investors come in all
through the underconstruction phase. But they may be wary of paying the 12
consistent with cent GST, which isn't always recoverable after crowning
glory,” he stated. Parekh flagged a fundamental difficulty: the authorities have
to take into account why the stamp duty and GST are each being imposed on
property transactions. “The stamp responsibility is charged below the switch of
assets act. The GST is charged treating it as goods. There need to be a single
tax,” he said.
Some sources stated the policymakers’ lack of capacity to decide whilst a
undertaking will become an asset can be at the basis of the perceived anomaly.
Stamp obligation is levied on an asset and the GST on items and services.
Since objects and services are at play whilst a building is being constructed,
the GST is levied at that stage. Credai has made representations to the Union
finance ministry to reconsider the decision but no end result has come of them
yet, Mohta said.
Conclusion
As a home consumer, it is able to pay to understand what the implementation
of GST may bode for domestic charges moving forward.
1. With GST, there ought to be a as soon as-off increase in property fees at
some stage in the board
2. While builders may not invoice domestic consumers for GST, they could
transfer the charges implicitly thru the sale rate
three. The basic charge growth for new residential properties can be marginally
decrease than that for brand spanking new commercial enterprise properties.
4. The secondary home market ought to see a knock on effect in fees.
One of the maximum complex areas of the tax levied via the Centre and the
States is works settlement and sale of assets. Currently, such transactions are
damaged into three parts – the fee of products and substances, cost of offerings
and rate of land. The States take a look at VAT to the goods element and the
Centre taxes the services detail, with out a specific tax at the transaction price
of land.
In GST regime, there will no longer be any idea of manufacture, sale or
provider etc. There could be exceptional one concept i.E. ‘Supply’. All the
elements is probably categorized as Supply of products or Supply of Services.
Construction activities is probably ‘works settlement’ that is being labeled as
‘Services’. All developers and developers in India is probably amassing and
paying CGST and SGST (i.e. Central GST and State GST. The region of
supply of the issuer is the place of the immovable property.
OBJECTIVES OF THE STUDY

2.1 PROBLEM STATEMENT
India is a federal usa in which Indirect Tax is levied thru Federal and State
Government. Value Added Tax is levied by using State Governments. Every
State has authority to decide the Tax rate and to govern the Tax gadget as in
step with their convenient. The Taxation power has been well defined in Indian
Constitution. The Constitution (122nd Amendment) Bill that seeks to usher in
a Goods and Services Tax (GST) regime inside the u.S. of the united states will
ultimately be taken up for speak in Parliament. Finance Minister Arun Jaitley
has been putting forward that India will implement GST from 1st April 2016.
It may additionally be seemed as simplification of Taxes in u.S. of the us and
heading off vain complexities. India is a federal united states of the united
states which has numerous Tax regimes and structure, wherein Tax is levied
through both Governments. After the implementation of GST all of the Indirect
Taxes can be subsumed below an umbrella, it's miles going to be a milestone in
the information of Indirect Tax reform. In this paper, an try has been made to
have a take a look at the major features of GST. This paper has also focused on
the troubles likely to be faced via Central and State Governments.
GST is deemed as one of the steps in making India as a rustic which has a high
income tax device, comprehensive, efficient, transparent and business-friendly.
It is also considered the world's satisfactory tax system primarily based on the
implementation of the united states which has completed the GST.GST has just
being implemented in India. The government and its group are however in
their way to spread out the information of GST in order to combat confusion
among people. Sales and contracts are made almost each day and a number of
those transactions required people to pay the GST. It is an problem if human
beings are nevertheless unaware or confuse with the tax gadget of GST and
end up worst when people forget about and boycott not to pay the tax. GST is a
popular trouble this is being mentioned through humans day to day, it's miles
vital to recognize whether the students are privy to the authorities’s plan and
do they have know-how on this issue. Therefore this observe makes an attempt
to analyze the College Student’s Awareness and Knowledge on the
Implementation of Goods and Services Tax (GST) in Sivakasi.
The idea of Goods and Services Tax (GST) is the most important tax reform in
decades during the world in lots of countries, but India has simply started
enforcing it to fulfill its goal of rolling out goods & offerings tax (GST). The
research intends to awareness on understanding idea of products and company
tax and its impact on Indian economy. Accordingly the goals of this take a look
at are:-
1. To highlight the needs of Goods and Services Tax in India
2. To study the impact of GST on Indian Economy.
2.2 OBJECTIVES OF THE STUDY
1. To study the concept of Goods and Services Tax (GST) and its
impact on Indian Construction Industry
2. To understand how GST will work in India
3. To know the advantages and challenges of GST in Indian context
4. To know the benefit of goods and service tax to economy, business
and the industry and consumers
2.3 ADDITIONAL RESEARCH QUESTIONS

The observe focuses on massive have a look at of secondary records
collected from authorities websites, various country wide and international
journals and articles, publications, convention papers, authorities reports,
newspapers, magazines which targeted on numerous elements of tax
structure and GST.
Traditionally India's tax regime relied intently on indirect taxes. Revenue

from indirect taxes come to be the number one supply of tax revenue until
tax reforms have been undertaken in the course of nineties. The important
argument positioned forth for heavy reliance on indirect taxes become that
the India's majority of populace was terrible and accordingly widening
base of direct taxes had inherent limitations.
But the Indian tool of indirect taxation is characterized through cascading,
distorting tax on manufacturing of merchandise and services which ends
up in hampering productiveness and slower economic growth. There are
countless taxes in present device few levied with the useful resource of
Centre and rest levied with the aid of state, to cast off this multiplicity of
taxes and decreasing the weight of the tax payer a simple tax is needed and
this is Goods and Service Tax (GST). This paper throws an insight into the
Goods and Service Tax concept and its impact on Indian economy.
2.4 LIMITATIONS OF STUDY
Every scientific study has certain limitations and the present study is no
more exception. These are:
 The sample size was small and cannot be applied to the entire
population.
 GST is new launched tax system so some complications are faced by
the peoples.
 The sample size is very small compared to the total population of the
region.
 The study was conducted with the basic assumption that the
information given by the respondent is factual and represents their
true feelings and behavior.
 It is very difficult to check the accuracy of the information provided.
 Since all the products and services are not widely used by all the
customers it is difficult to draw realistic conclusions based on the
survey.
LITERATURE REVIEW
3.1 LITERATURE REVIEW
GST became first brought by way of the usage of France in 1954 and now
it's far accompanied via 140 international locations . Most of the
international locations followed unified GST on the same time as some
nations like Brazil , Canada observe a twin GST system wherein tax
imposed by foremost and state each. In India additionally twin machine of
GST is proposed such as CGST and SGST .
• Govinda Rao (2009) “Goods and Service Tax – Some progress closer to
clarity” the author in his article explicit his perspectives on the number one
empowered committee file of country finance ministers of Goods and
Service tax to be carried out in India. He moreover explains salient
features, shortcomings of the proposed GST. He shows that the proposed
GST model need to overcome the shortcomings of VAT tool. He moreover
throw moderate on the demanding situations faced inside the
implementation of GST in India.
• Ehtisham Ahmed and Satya Poddar (2009) studied “Goods and Service
Tax Reforms and Intergovernmental Consideration in India” and
discovered that GST advent will offer simple and obvious tax machine
with increase in output and productivity of financial machine in India. But
the blessings of GST are severely relying on rational design of GST.
• (Saira et al, 2010) , Based on the statistics of the implementation by way

of way of the alternative international locations around the worldwide,
most of the worldwide locations acquired a exceptional effect in phrases of
their revenue, notwithstanding the success of GST implementation the
Malaysian citizens nonetheless sense uncertain with the GST, (Saira et al,
2010). The findings from the examine showed that the majority of
Malaysians not convinced with the GST system ,
• Dr. R. Vasanthagopal (2011) , Conducted a have a look at on , “ GST in

India : A large leap inside the Indirect Taxation System” and concluded
that switching to seamless GST from gift day complex oblique tax device
in India could be amazing step in turning into Indian financial system .
Success of GST will purpose its popularity with the useful resource of
extra than one hundred thirty nations in global and a trendy preferred shape
of Indirect Tax System in Asia additionally.
• According to Torgler (2011) , tax morale is important to taxpayer

consciousness. On the alternative hand, studies with the useful resource of
Tekeli (2011) using multiple regression analysis show that tax morale has
insignificant courting on tax focus. A Tekeli (2011) end is supported have
a take a look at by means of manner of regarding cause and consequences
of tax morale.
• Research with the aid of Mustapha and Palil (2011) , said that the have an
effect on of compliance behavior closer to people’ awareness has been
examined in numerous researches. From the findings of Razak and Adafula
(2013); Santi (2012) they determined that taxpayers’ interest is
significantly associated with tax compliance and this is additionally
supported with the aid of have a look at Jatmiko (2006)
• Dr. R. Vasanthagopal, (2011)“GST in India: A Big Leap inside the

Indirect Taxation System”, determined that the effective affects are relying
on a unbiased and rational layout of the GST. Balancing the conflicting
pursuits of diverse stakeholders, whole political determination for a
important tax reform with a constitutional modification, the technique of
valuation for levying the tax is to be required
• Jana V. M., Sarma& V Bhaskar (2012) “A Road Map for implementation

of Goods and Service Tax”, from the take a look at it's far decided that the
stairs to be undertaken to enforce the complete tax system i.E., GST. The
authors have thrown moderate at the constitutional modification required
for the implementation of GST in India.
• BeriYogita (2012) “Problems and Prospects of Goods and Services Tax

(GST) in India” on this article the writer say that India has witnessed with
range of tax reforms thinking about that Independence. The
implementation of GST will become primary oblique reform in India
despite the fact that is subsumes many existing oblique taxes like relevant
excise duty, customs obligation, carrier tax, additional responsibilities etc.
through implementation of GST there will be levy of critical taxes every
on goods and offerings which integrates and widen the tax base.
• Syed Mohd Ali Taqvi (2013) studied the challenges and possibilities of
Goods and Service Tax in India. He defined that GST is nice oblique tax
that directly impacts all sectors and sections of our united states. It is
aiming at developing a unmarried, unified market that will benefit each
corporates and monetary system. He also defined the proposed GST
version can be accomplished parallel by using the usage of the number one
and country governments as Central GST and State GST respectively.
• Pall et al. (2013) , study by way of the use of using a couple of regression
analysis, the researchers placed out that there are massive courting between
recognition and tax understanding. When humans have understanding
related to the tax systems, humans could be greater willing to admire the
tax systems and stepped forward human beings’ awareness. Further,
Jatmiko (2006) moreover end that consciousness may be advanced from
the expertise and the knowledge. Palil et al. (2013) and Jatmiko
conclusions is also supported study through Tayib (1998) recognized that
individuals’ consciousness toward the tax gadget can growth whilst the
human beings has know-how approximately the tax. This makes tax
understanding and tax reputation has full-size courting and while the
humans or the taxpayers have information about it and it'll make it less
complicated for them to take a look at and comply with the tax rules.
• Djawadi and Fahr ( 2013) , This examine is mentioned that records

approximately tax is crucial to boom the thrust of presidency and citizens.
The researcher used shape equation modelling to take a look at the
relationships among tax cognizance and tax records and researcher placed
that tax information has extraordinary courting with tax consciousness .
Hence, taxpayers might be greater aware of tax system once they have
know-how and knowledge in the direction of the tax system.
• Agogo Mawuli (2014) studied “Goods and Service Tax-An Appraisal”

and located that GST isn't always appropriate for low-profits countries and
does not offer wide based boom to negative international locations. If still
the ones countries need to enforce GST then the price of GST must be less
than 10% for boom.
• Jaiprakash ( 2014) in his research observe mentioned that the GST on the
Central and the State degree are predicted to provide more remedy to
industry, trade, agriculture and customers via a extra complete and wider
coverage of enter tax set-off and service tax setoff, subsuming of numerous
taxes inside the GST and phasing out of CST. Responses of enterprise and
additionally of exchange have been certainly encouraging. Thus GST
offers us the great alternative to increase our tax base and we've got to no
longer pass over this opportunities to introduce it whilst the instances are
quite favorable and monetary machine is playing steady boom with
handiest mild inflation
• Nitin Kumar (2014) studied “Goods and Service Tax- A Way Forward”
and concluded that implementation of GST in India assist in removing
financial distortion with the aid of cutting-edge indirect tax tool and
predicted to encourage independent tax shape it really is detached to
geographical locations.
• Nishitha Guptha (2014) in her examine stated that implementation of

GST in the Indian framework will cause commercial advantages that have
been untouched thru the VAT machine and would basically motive
economic development. Hence GST can also usher in the opportunity of a
collective benefit for enterprise, exchange, agriculture and not unusual
purchasers in addition to for the Central Government and the State
Government.
• Pinki , Supriya Kamma and Richa Verma ( July 2014) studied, “ Goods
and Service Tax “ Panacea for indirect tax machine in india “ and
concluded that the brand new NDA government in india is effective within
the path of implimentation of GST and it's miles beneficial for vital
government , nation authorities and further to for customers in longer term
if its implimentation is backed via strong it infrastructure.
• Shefali Dani (2015) has suggested that GST management is an irresolute

endeavor to legitimize backhanded price shape. Roughly more than a
hundred and fifty countries have accomplished GST idea. The legislature
of India ought to exam the GST administration set up through one in all a
kind nations and moreover their aftermaths previously actualizing GST. IT
is the need of hour that, the legislature have to make an endeavor to guard
the massive poor populace of India, in opposition to the expansion due to
execution of GST. GST will disentangle its cutting-edge roundabout duty
framework and must expel wasteful components made by using using the
current heterogeneous rate framework, in reality if there can be a
reasonable agreement over problems of element constrain, income fee, and
incorporation of oil based completely commodities, power, alcohol and
land.
• Srinivas K. R (2016) in his article “Issues and Challenges of GST in
India” said that essential and united states governments are empowered to
levy respective taxes as in line with the Indian charter which is probable to
alternate the whole scenario of gift oblique taxation system. GST may be a
compressive oblique tax shape on manufacture, earnings and consumption
of products and offerings during India, to update the diverse oblique taxes
levied via the both the governments.
• International Journal of innovative research in sociology and humanities

(2016) , A take a look at on impact of GST after implementation Milan-
deep Kour and his co-authors Assistant Professor from Eternal University
himachal Pradesh talks approximately the effect of GST and
implementation of it, its benefit and traumatic situations. He additionally
emphasizes that GST goes to change matters in current-day situation.
• Times of India (26 July, 2017) , page no 1&17 it's far stated that Sweet
makers are stressed with solving the tax for their products as the
substances used in the candies are taxed one at a time as raw cloth and as
finished goods the goods its taxing is first-rate ex. Plain burfi is 5% taxed
however chocolate burfi is fixed with 28%. Plain burfi mixed with unique
dry end result is of 12%. This taxing tool makes the Sweet makers to get
careworn on how plenty GST to be steady for which product.
• Shakwipee ( 2017) , A have a look at behavior at the inquring the level of

interest toward GST some of the small enterprise proprietors in Rajasthan
State, decided that the precept areas to be centered include training
mistakes and pc software program availability.
• Vineet Chauhan (2018) , Conduct a take a look at on “ Measuring

Awareness about implementation of GST.” A have a study survey of small
commercial enterprise unit of Rajasthan State in India. The have a take a
look at seeks to evaluate the attention of the business owners
approximately GST problems they face to encase of the contemporary
awareness about it. 148 small business enterprise proprietors were analyses
a good manner to identify the eye approximately GST from Rajasthan
kingdom and the kind and volume of relief furnished and the
implementation of the provision below GST Law.
• Bar hate (2018) , observed that people have no doubt whatsoever

concerning the proposed benefits of GST irrespective of their commercial
organisation type, legal fame of commercial organisation for the motive
being they revel in irritated through the gift system which appears to be
cumbersome. Most respondents trust that GST will bring economic gains
to their commercial enterprise and do no longer expect any first rate raise
in tax compliance costs. Interestingly, respondents expect the spending on
tax compliance to go down after GST is applied. The lack of information
coupled with the apathy in the path of reforms also can paralyze the fast
implementation of this device especially in small cities in which
nonetheless not a single orientation programs have been planned and
carried out till date through way of competent government.
CONCLUSION
GST will swift authorities awareness on relying direct tax (profits) to

oblique tax. Definitely because of small income in tax collection base,
GST will be a robust raise to authorities revenues. Hopefully with these
amount of sales demanding situations that the government face in term of
deficit price range and debt may be clean by way of 2020.
As it's far a intake tax, it appears that Malaysian GST will even act as an
powerful dragnet for tax evaders and illegal immigrants who pay no profits
tax. The charge made to BRIM recipient will offset maximum of the
GST’s effect on the poor.
GST will supply some impact on purchaser expenditure because of upward
thrust in goods and services price, but with increase of sales authorities
spending element to be greater and company will hold to make investments
as export items will exempted from tax. GDP will boom when government
spending and investment increase. Hopefully the implementation of GST
can offer good platform for the u . S . A . to turn out to be increase usa
with high income.
COLLECTION OF PRIMARY DATA
METHODOLOGY
Research is a logical and systematic search for new and useful information on a
particular topic. Research methodology is a systematic way to solve a problem. It
is a science of studying how research is to be carried out. Essentially, the
procedures by which researchers go about their work of describing , explaining and
predicting phenomenon are called research methodology.
About my Research Problem :
The present research is exploratory in nature. Since GST is a new phenomenon in

India, there are hardly any studies in this area. Specially there is a huge gap of
empirical and behavior studies on GST in India. The study tries to find the
significance of popular perception regarding GST.
RESEARCH DESIGN
A good research design has characteristics viz, problem definition , time required
for research project and estimate of expenses to be incurred the function of
research design is to ensure that the required data are collected and they are
collected accurately and economically. A research design is purely and simply the
framework for a study that guide the collection and analysis data. In this project the
two basic types of research design are used
➢Exploratory Research: All research projects must start with exploratory

research. This is a preliminary phase and is absolutely essential in order to obtain a
proper definition of problem in hand. The major emphasis on the discovery if ideas
and insights . The exploratory study is particularly helpful in breaking broad and
vague problems in to smaller, more precise sub problem statements . Exploratory
research is also used to increase the familiarity with the problem under
investigation
➢Descriptive Research : It is the design that one simply describe something such
as demographic characteristics of people . The descriptive study is typically
concerned with determining frequency with which something occurs or how two
variables vary together. A descriptive study requires a clear specification of who,
what, when and why apex of the research . It requires formulation of more specific
hypothesis and the testing these through statically inference technique.
This is the research design of the study and then it comes to develop the research
plan , which means that what to do before going for the actual interpretation and it
is discussed below.
RESEARCH EXECUTION
SAMPLING TECHNIQUES
Basis of Convenience Sampling (Non-Probability)
STASTICAL TOOLS
Following MS Office tools are being availed while preparing the project:
 MS Excel: Pictorial & graphical representation of data

 MS Word: Preparation of project & other reports
METHODS FOR PRESENTATION OF DATA
 Traditional method of data representation i.e. Pie chart, Bar chart etc
 Average of responses – No. of Responses/Total Responses * 50
Sample size: The sample size shorted out from the population (universe set) is 100
nos. to draw the conclusion of the study
Sampling Technique: The Project will be non-probability sampling.
Research Type: The project will be exploratory research type
ANALYSIS OF DATA
DATA COLLECTION SOURCES
Primary Data:
Primary data is basically the live data which I collected on field while doing cold
calls with the customers and I shown them list of question for which I had required
their responses.
Source: Main source for the primary data for the project was questionnaires which
I got filled by the customers or some times filled myself on the basis of discussion
with the customers.
Secondary Data:
Secondary data for the base of the project I collected from intranet and from
internet, magazines, newspapers etc.
SAMPLING TECHNIQUE
Sampling Technique
Sampling techniques can be broadly classified in to two types:
 Probability Sampling.
 Non Probability Sampling.
Tools for analysis
 Bar chart (Bar charts will be used for comparing two or more values that
will be taken over time or on different conditions, usually on small data set )
 Pie-chart (Circular chart divided in to sectors, illustrating relative
magnitudes or frequencies)
DATA ANALYSIS
DATA ANLYSIS AND INTERPETATION
1. How do you get to know about GST?
Table 1:
Particulars No. of Respondents Percentage

Friends/Family 15 15%
Mass Media 50 50%
Online Sources 20 20%
Others 15 15%
TOTAL 100 100%
Percentage
50
45
40
35
30 Percentage
25
20
15
10
5
0
Friends/family Mass Media Online sources Others
Interpretation: Most of the Client know about GST From Mass Media.
2. Do you agree with the implementation of GST in India?
Table 2:

Yes 70 70%
No 30 30%
TOTAL 100 100%
Sales
Yes
No
Interpretation: Most of the Client agree about the implementation of GST in

India.
3. Do you think implementing GST will cause higher price of goods &
services?
Table 3:

Yes 80 80%
No 20 20%
TOTAL 100 100%
Yes
No
Interpretation: Most of the Client think that implementing GST will cause
higher price of goods & services.
4. Do you think all businesses need to be registered under GST?
Table 4:

Yes 80 80%
No 20 20%
TOTAL 100 100%
Yes
No
Interpretation: 80% user think that all businesses need to be registered under
GST.
5. Which system do you think is more beneficial to both Government and
people?
Table 5:

Goods & Service Tax 65 65%
Others 35 35%
TOTAL 100 100%
Goods & Servive Tax

Others
Interpretation: 65% user think that Goods & Service Tax is more beneficial to
both Government and people.
6. Is India ready for implementing GST system?
Table 6:

Yes 75 75%
No 25 25%
TOTAL 100 100%
Yes
No
Interpretation: 75% user think INIDA is ready for implementing GST system.
7. How was your experience using GST?

Table 7:
Option No. of Respondents Percentage

Poor 20 20%
Satisfactory 15 15%
Good 20 20%
Excellent 45 45%
TOTAL 100 100%
Percentage
45
40
35
30
Percentage
25
20
15
10
5
0
Poor Satisfactory Good Excellent
Interpretation: From the above graph shows that Most of customer says excellent
for using GST
8. GST is a very good tax reforms for India?

Table 8:
Options No. of Respondents Percentage

Strongly Agree 10 10%
Agree 40 40%
Neutral 15 15%
Disagree 15 15%
Strongly Disagree 20 20%
TOTAL 100 100%
Percentage
40
35
30
25 Percentage
20
15
10
0
Strongly agree Agree Neutral Disagree Strongly disagree
Interpretation: From the above graph shows that Most of customer agree for
using GST.
9. GST has increased the various legal formalities.

Table 9:

Agree 10 10%
Neutral 35 35%
Disagree 20 20%
TOTAL 100 100%
Percentage
35
30
25
Percentage
20
15
10
0
Interpretation: From the above graph shows that Most of customer are neutral
about that GST Has Increased The Various Legal Formalities. 25 % customer
are Strongly Agree about that GST Has Increased The Various Legal
Formalities. And rest customer are are Agree about that GST Has Increased The
Various Legal Formalities.
10.GST has increased the tax burden on common man.

Table 10:

Agree 20 20%
Neutral 10 10%
Disagree 15 15%
TOTAL 100 100%
Percentage
45
40
35
30
Percentage
25
20
15
10
5
0
Interpretation: 45% customer are Strongly Agree about GST has increased the
tax burden on common man. 20% customer are Agree about GST has increased
the tax burden on common man. And rest are 45% customer are not Agree.
11.GST has increased the tax burden on businessman in the construction

industry.
Table 11:

Agree 25 25%
Neutral 10 10%
Disagree 05 05%
TOTAL 100 100%
Percentage
60
50
40
Percentage
30
20
10
0
Interpretation: 55% customer are Strongly Agree about GST has increased the
tax burden on businessman. 25% customer are Agree about GST has increased
the tax burden on businessman. And rest are are not Agree
12.GST will increased the inflation in the country.
Table 12:
Agree 20 20%
Neutral 05 05%
Disagree 10 10%
TOTAL 100 100%
Percentage
60
50
40
Percentage
30
20
10
0
Interpretation: 60% customer are Strongly Agree that GST will increased the
inflation in the country. 25% customer are Agree that GST will increased the
inflation in the country. And rest are are not Agree
13.GST will increase the Tax collection of GOVT.
Table 13:
Agree 20 20%
Neutral 05 05%
Disagree 00 00%
TOTAL 100 100%
Percentage
80
70
60
50 Percentage
40
30
20
10
0
Interpretation: 75% customer are Strongly Agree that GST will increase the
Tax collection of GOVT. 20% customer are Agree that GST will increase the
Tax collection of GOVT. And rest are are not Agree
14.GST will affecting small business very badly.
Table 14:
Agree 27 27%
Neutral 08 08%
Disagree 00 00%
TOTAL 100 100%
Percentage
70
60
50
Percentage
40
30
20
10
0
Interpretation: 65% customer are Strongly Agree that GST will affecting
small business very badly. 27% customer are Agree that GST will affecting
small business very badly. And rest are are not Agree.
15.GST affects the Indian construction market negatively.
Table 15:

Agree 35 35%
Neutral 10 10%
Disagree 15 15%
TOTAL 100 100%
Percentage
35
30
25
Percentage
20
15
10
0
Interpretation: most of the customer are agree that GST affects the Indian
construction market negatively.
16.GST will cause an increase in the costs for material procurement.
Table 16:
Agree 40 40%
Neutral 10 10%
Disagree 15 15%
TOTAL 100 100%
Percentage
40
35
30
25 Percentage
20
15
10
0
Interpretation: Most of the customer are agree that GST will cause an increase
in the cost of for material procurement.
17.GST will make the construction projects slower?
Table 17:
Yes 90 90%
No 10 10%
TOTAL 100 100%
Yes
No
Interpretation: From the above graph shows that most of our respondents are
agree that GST will make the construction projects slower.
18.GST will make day to day purchases in a construction industry more

expensive?
Table 18:
Yes 85 85%
No 15 15%
TOTAL 100 100%
Yes
No
agree that GST will make day to day purchases in a construction industry more
expensive
19.Is the average GST rate in the construction industry preferable?
Table 19:
Yes 25 25%
No 75 75%
TOTAL 100 100%
Yes
No
not agree that average GST rate in the construction industry preferable
20.GST will increase the tax burden on the businesses in the construction
industry?
Table 20:
Yes 70 70%
No 30 30%
TOTAL 100 100%
Yes
No
agree that GST will increase the tax burden on the businesses in the
construction industry.
21.GST will help make the construction industry sector more organized?
Table 21:

Yes 50 50%
No 50 50%
TOTAL 100 100%
Yes
No
Interpretation: From the above graph shows that our respondents are confuse
about that GST will help make the construction industry sector more organized.
CONCLUSIONS AND RECOMMENDATIONS
SUMMARY OF FINDINGS
 Most of the Client know about GST From Mass Media.

 Most of the Client agree about the implementation of GST in India
 Most of the Client think that implementing GST will cause higher price of
goods & services.
 80% user think that all businesses need to be registered under GST
 65% user think that Goods & Service Tax is more beneficial to both
Government and people.
 62% user think that GST will burden the people/consumer.
 75% user think INIDA is ready for implementing GST system.
 From the above graph shows that Most of customer says excellent for using
GST.
 From the above graph shows that Most of customer says excellent for using
GST.
 From the above graph shows that Most of customer are neutral about that
GST is very good tax reforms for India. 25 % customer are disagree about
that GST is very good tax reforms for India.
 From the above graph shows that Most of customer are neutral about that
GST Has Increased The Various Legal Formalities. 25 % customer are
Strongly Agree about that GST Has Increased The Various Legal
Formalities. And rest customer are are Agree about that GST Has Increased
The Various Legal Formalities
 45% customer are Strongly Agree about GST has increased the tax burden
on common man. 20% customer are Agree about GST has increased the tax
burden on common man. And rest are 45% customer are not Agree.
on businessman. 25% customer are Agree about GST has increased the tax
burden on businessman. And rest are are not Agree.
on businessman. 25% customer are Agree about GST has increased the tax
burden on businessman. And rest are are not Agree.
 75% customer are Strongly Agree that GST will increase the Tax collection
of GOVT. 20% customer are Agree that GST will increase the Tax
collection of GOVT. And rest are are not Agree.
 65% customer are Strongly Agree that GST will affecting small business
very badly. 27% customer are Agree that GST will affecting small business
very badly. And rest are are not Agree
 most of the customer are disagree that GST is impacts the customer
purchasing power in effectively.
 most of the customer are agree that GST affects the Indian construction
market
 Most of the customer are agree that GST will cause an increase in the cost of
for Construction industry.
 From the above graph shows that most of our respondents are agree that
GST will make day to day purchases in a construction industry more
expensive.
 From the above graph shows that most of our respondents are not agree that
average GST rate in the construction industry preferable
 From the above graph shows that most of our respondents are agree that
GST will increase the tax burden on the businesses in the construction
industry
 From the above graph shows that our respondents are confuse about that
GST will help make the construction industry sector more organized.
OVERALL CONCLUSION
GST might be the mother of all Indian tax reforms of this centaury and it'd
subsume maximum (if no longer all) of the prevailing Central and State level
taxes on deliver of products and services.
Accordingly, GST would have a huge effect on corporation surroundings
and its operations. When undertaking oversight of organizational readiness
to adopt GST, unbiased directors want to attention on the following
additives:
1) GST may have a multi-fold effect on operations – Besides the fiscal effect
and tax compliance, GST may want to have an impact on cash flows,
product pricing, supply chain preparations, procurement, revenue popularity
and the IT systems. It is therefore vital to evaluate whether the enterprise is
undertaking a holistic impact evaluation of GST encompassing all of the
above.
2) Assess the effect on economic results – GST may have an impact at the
economic statements; for instance the top-line can also get decreased in
some cases (e.G. Traded items) because of elimination of tax cascading. The
gross margins may additionally undergo changes as Cost of Goods Sold also
can undergo modifications as a quit result on input tax credit. For listed
corporations, the ones modifications will need to be factored in quarterly
forecasts and incomes releases to the stock markets.
Three) Monitor the effect on cash flows – Most of the making plans in GST
will revolve round optimizing cash flows. The effect can be because of GST
on imports, inventory transfers and modifications in aspect of taxation/ tax
credits.
4) Organisations might also additionally want to re-design sure components

of their Supply Chain – The concept of mere supply of merchandise and
services trigger tax liability under GST instead of sale underneath the
existing VAT, will impact Sourcing, Production and Distribution factors of
the Supply Chain. For instance, sourcing worries ought to contain revisiting
sourcing combination (local, inter-country and imports), stock transfer
coverage and renegotiation of vendor rate because of the GST impact. From
a manufacturing perspective, GST effect may want to variety relying upon
the manufacturing and distribution preparations e.G. Own/ job-work/
contract manufacturing. The “Place of Supply” pointers will determine
country in which GST is to be deposited.
5) Understand the linkages, variations for companies imposing IFRS – For
groups enforcing IFRS, the requirements under IFRS range with the ones
below GST. Organizations will want to recollect essential re-alignments
interior their IT structures to efficiently manipulate those variations. For
instance, there may additionally want to be possible differences among GST
levy date and date of sales popularity, accounting for multiple element
preparations (e.G. The bill price consists of a supply and maintenance
element), accounting for barter transactions, reconciliation of GST on
inventory transfers with accounting statistics etc.
6) Understand the results on product pricing, advertising and advertising and

HR – The impact of GST needs to be taken into consideration within the
margins of diverse stakeholders within the distribution chain to ensure that
GST does now not negatively effect product pricing and therefore market
share. This calls for a reassessment of change, good buy and incentive
schemes. From a HR perspective, there can be a need to rethink the indirect
tax control structure, education requirements of key indirect tax personnel
depending upon the effect evaluation
7) Assess if the IT structures are geared to deal with GST requirements

successfully with minimal guide workarounds – The Audit Committee ought
to on the outset require control to undertake crucial upgrades to IT structures
so that the vital systemic alignments are in area to manipulate GST MIS
necessities. Changes in the device are in all likelihood to be required
primarily on account of exchange in taxes/ tax rates, availability of credit
score for input taxes on purchases collectively with interstate purchases and
Import GST, availability of cross credit score for items and offerings and
GST on stock transfer
Tax hints play an essential feature at the economic system via their impact
on both performance and equity. A nicely tax device want to keep in view
issues of income distribution and on the equal time, additionally endeavour
to generate tax income to support government expenditure on public
offerings and infrastructure improvement. The ongoing tax reforms on
moving to a objects and offerings tax might effect the united states of
america wide financial machine, International alternate, groups and the
purchasers.
There has been a good buy of complaint as well as appraisal of the proposed
Goods and Services Tax regime
By the above discussions one can attain following conclusion:-
• By the above discussions one can attain following conclusion:-
• In developing open financial system with developing service area, a

alternate inside the tax combo from earnings to intake-based taxes is
possibly to provide a fruitful supply of income.
• The proposed shape will simplify the technique which becomes with• same
opportunity for all of the markets and in other hand will leads reduced tax
evasion. It is preferred every economy need to adopt GST at countrywide
degree to make their economic device attractive for foreign places investors.
By imposing GST, the developing economic gadget like India can reap
sustainable and balanced improvement. Slowly, India shall circulate to enroll
within the quarter large requirements in taxation, corporate legal hints and
managerial practices and be the numerous leaders in these fields.
• It also may be concluded from the above communicate that GST will
provide remedy to manufacturers and customers with the useful resource of
presenting massive and complete coverage of input tax credit set-off,
provider tax prompt and subsuming the severa taxes. It can be in addition
concluded that GST have a nice effect on diverse sectors and enterprise.
Implementation of a complete GST across objects and services is

anticipated, ceteris paribus, to increase india’s GDP someplace within a
number of 0.9 in step with cent to 1.7 in step with cent. The corresponding
modifications in absolute values of GDP over 2008-09 is predicted to be
among rs forty ,789 crore and rs 83,899 crore, respectively. The comparable
greenback fee increment is predicted to be between $9,461 million and
$18,550 million, respectively. The additional advantage in GDP, originating
from the gst reform, would be earned in some unspecified time in the future
of all years in destiny over and above the growth in gdp which can have
been executed otherwise. The present rate of the gst-reform induced profits
in GDP can be computed as the existing price of additional profits
movement based mostly on some discount rate. We count on a cut rate
charge as the lengthy-term actual rate of hobby at approximately 3 in
keeping with cent. The present fee of total gain in gdp has been computed as
between rs 1,469 thousand crore and 2,881 thousand crore. The
corresponding greenback values are $325 billion and $637 billion. Gains in
exports are anticipated to vary among 3.2 and 6.Three constant with cent
with corresponding absolute value variety as rs 24,669 crore and rs 48,661
crore. The comparable dollar fee increment is predicted to be between
$5,427 million and $10,704 million, respectively. Imports are expected to
gain someplace between 2.four and four.7 in line with cent with
corresponding absolute values ranging amongst rs 31,173 crore and rs
61,501 crore. The comparable greenback fee increment is anticipated to be
among $6,871 million and $13,556 million, respectively.
The overall fee level could circulate down. It is anticipated that the real
returns to the factors of production would possibly go up. Our effects show
profits in actual returns to land ranging among 0.Forty two and 0.82 in step
with cent. Wage rate profits range among 0.68 and 1.33 in step with cent.
The real returns to capital would possibly gain somewhere amongst 0.37 and
0.74 according to cent. The overall performance of power aid use improves
within the new equilibrium. The advent of gst may want to as a result be
surroundings friendly. Based on our computations, the revenue impartial gst
fee across items and offerings is predicted to be placed someplace inside the
variety of 6.2 in keeping with cent and 9.4 in line with cent, relying on
various eventualities of sectoral exemptions. In sum, implementation of a
comprehensive gst in india is predicted to motive efficient allocation of
factors of production as a result le ading to income in gdp and exports. This
would possibly translate into enhanced financial welfare and returns to the
factors of manufacturing, viz. Land, labour and capital. As with some other
modelling workout, the consequences of our exercise are issue to sure
barriers. The present day equilibrium version that we've got were given used
is comparative static in nature. Aggregate materials of labour, capital, and
agricultural land are assumed to remain fixed so one can precis from
macroeconomic worries. Given these barriers the results want to now not be
examine as forecasts of variables however handiest as indicative directional
adjustments.
Implementation of a whole gst in the course of goods and offerings is

expected, ceteris Paribus, to increase india’s gdp someplace within a number
of 0.9 according to cent to 1.7 in keeping with cent. The corresponding
modifications in absolute values of gdp over 2008-09 is predicted to be
Between rs 42,789 crore and rs 83,899 crore, respectively. The comparable
greenback rate Increment is expected to be among $9,461 million and
$18,550 million, respectively. The additional advantage in gdp, originating
from the gst reform, is probably earned during all Years in future over and
above the growth in gdp which might have been performed Otherwise. The
present cost of the gst-reform induced profits in gdp Implementation of a
whole gst at some point of goods and offerings is expected, ceteris Paribus,
to boom india’s gdp someplace within a number 0.9 in step with cent to 1.7
in step with cent. The corresponding changes in absolute values of gdp over
2008-09 is anticipated to be Between rs forty ,789 crore and rs 83,899 crore,
respectively. The comparable dollar price Increment is predicted to be
among $9,461 million and $18,550 million, respectively. The additional gain
in gdp, originating from the gst reform, might be earned at some stage in all
Years in future over and above the growth in gdp which might have been
completed Otherwise. The present fee of the gst-reform induced gains in gdp
The overall charge degree could Go down. It is expected that the actual
returns to the elements of production would possibly bypass up. Our Results
display profits in actual returns to land ranging amongst 0.forty two and 0.82
according to cent. Wage rate Gains variety amongst 0.68 and 1.33 in keeping
with cent. The actual returns to capital may advantage somewhere Between
0.37 and 0.74 in step with cent. The performance of power useful resource
use improves inside the new equilibrium. The advent of Gst should
consequently be environment friendly. Based on our computations, the sales
impartial gst fee at some stage in objects and services is Expected to be
placed somewhere inside the variety of 6.2 in keeping with cent and 9.4
according to cent, relying On diverse scenarios of sectoral exemptions. In
sum, implementation of a entire gst in india is anticipated to lead to efficient
Allocation of things of production therefore le ading to income in gdp and
exports. This might Translate into enhanced financial welfare and returns to
the elements of production, viz. Land, Labour and capital. As with some
other modelling workout, the results of our workout are trouble to superb
Limitations. The famous equilibrium model that we have were given used is
comparative static in nature. Aggregate factors of labour, capital, and
agricultural land are assumed to remain fixed as a way to Abstract from
macroeconomic considerations. Given these barriers the consequences ought
to now not be Read as forecasts of variables however handiest as indicative
directional changes.
The proposed Goods and Services Tax (GST) is said to replace all indirect
taxes levied on gadgets and services via the Government, every Central and
States, as quickly as it is implemented. The GST will consolidate all State
economies. It is probably one of the biggest taxation reforms to take vicinity
in India as soon as the Bill gets the official inexperienced signal. The basic
concept is to create a unmarried, cooperative and undivided Indian market to
make the financial system more potent and powerful. The GST will make a
huge breakthrough paving way for an all-inclusive oblique tax reform within
the usa.
In the year 2000, for the number one time the concept of beginning the GST
changed into made by the then BJP Government below the management of
Atal Behari Vajpayee. An empowered committee was moreover shaped for
that, headed via Asim Dasgupta (the then Finance Minister of the West
Bengal Government). The committee turn out to be fashioned to layout the
model of the GST and on the same time look at the schooling of the IT
department for its rollout. In 2011, the previous United Progressive Alliance
(UPA) Government additionally introduced a Constitution Amendment Bill
to facilitate the arrival of the GST within the Lok Sabha however it turn out
to be rejected through many States.
The GST is basically an indirect tax that brings most of the taxes imposed on
maximum items and offerings, on manufacture, sale and consumption of
products and services, below a unmarried region at the national stage. In the
existing tool, taxes are levied one after the other on items and services. The
GST is a consolidated tax based totally on a uniform charge of tax steady for
both goods and services and it's miles payable on the very last factor of
consumption. At every diploma of sale or buy inside the supply chain, this
tax is accumulated on price-brought items and services, thru a tax credit
mechanism.
While RERA and GST will slowly change the way the actual estate
company operates in India, they have additionally thrown open a few
components that need good sized deliberation. One such hassle is the legal
responsibility of builders to offer for workmanship for structural defects for
a period of five years. Unlike in the past, builders will now need to create a
back-to-back assure with providers in case a venture comes up. Starting
from the agreement to execution and subsequently handing over,
documentation has to be honestly spelled out. If a developer wants to save
himself from the ache of terrible construction, he will should keep tabs on
corporations he conducts commercial business enterprise with and the
satisfactory of materials he procures. The quit user would possibly, of
course, gain from this superior diligence.
GST in India offers the lengthy awaited generalization of the oblique tax
shape. The cash constituent of the building creation economic gadget will
reduce due to the execution of GST in India. To avail ITC, contractors want
to buy raw materials from GST-registered vendors, resulting in higher tax
compliance. Under GST, the work agreement is considered as a service, and
hence, the composition scheme isn't always available. Contractor’s
compliances and charges will boom as they may follow the standard taxation
device. GST affirmation on works contract as a service has delivered clarity.
But the lack of details in the regions of enter tax credit (ITC) and
composition schemes would possibly lead to disputes. All in all, GST have
to impact the improvement sector in a advantageous manner, no longer
simplest from a price perspective but additionally on pricing of various
merchandise, albeit in a protracted run.
RECOMMENDATIONS
The following are the suggestion made based on the results of the study.
Some suggestions for better administrative machinery to handle the

implementation of Goods and Services Tax Act in India are:
 Standardization of systems and procedures

 Tax relief in case of branch transfer
 Well defined procedures in case of Job works
 Uniform dispute settlement machinery.
 Adequate training for both tax payers and tax enforcers
 Re-organization of administrative machinery for GST
implementation.
 Building information technology backbone – the single most
important initiative for GST implementation.
 Uniform Implementation of GST should be ensured across all states
(unlike the staggered implementation of VAT) as many issues might
arise in case of transactions between states who comply with GST and
states who are not complying with GST.
 We can do advertise in much way like banner advertising, web
advertising, outdoor housing advertising etc.
BIBLIOGRAPHY
Books:
 Adhana, D. K. (2015). Goods and services tax (GST): A panacea for
Indian economy. International Journal of Engineering & Management
Research, 5 (4), 332 - 338.
 Agogo Mawuli (2014): “Goods and Service Tax- An Appraisal” Paper
presented at the PNG Taxation Research and Review Symposium, Holiday
Inn, Port Moresby,29-30
 Chakraborty, P., & Rao, P. K. (2010, January 2). Goods and services
tax in India: An assessment of the base. Economic and Political Weekly, 45
(1), 49 - 54.
 Fabian and Erik Hoelzl(2015) , Price , Perception and confirmation bias in
the context of a VAT increase, Journal of Economic Psychology 32 (1)
volume 2 Pg No. 131-- 141 in 20
 GST India (2015) “Economy and Policy”. Jaiprakash (2014), “Indirect
Tax Reform in India and a way ahead for GST”, International Journal of
Computing and Corporate Research, Vol 4, Issue 1.
 Kothari C.R. 2nd Edition (2004) Research Methodology … Topic “
Concept & Meaning Of Research , Sampling , Methods and Techniques Of
Data collection and Tools '' B com , BBA and MBA and M.com Textbook.
 Tripathi, S., & Tripathi, N. (2016, August 3). India : In a historic move,
Rajya Sabha passes the GST Bill : Annexure (p.4). Retrieved from
https://www.icicibank.com/managed-
assets/docs/corporate/globaltradeservice/ economic-reports/rajya-sabha-
passes-gst-bill.pdf
 Sunitha, G. & Sathischandra, P. 2017. Goods and Services Tax (GST):
As a new path in Tax reforms in Indian economy. International Journal of
Research in Finance and Marketing. 7(3): 55-66
Web Links:
 https://www.gstindia.com/about/
 https://www.gstindia.com/about/
 https://www.thequint.com/news/business/india-gst-most-complex-28-
percentslab-second-highest-rate-in-world-world-bank
 https://www.bankbazaar.com/tax/gst.html
 https://economictimes.indiatimes.com/gst
 https://en.wikipedia.org/wiki/Goods_and_Services_Tax_(India)
 https://gst.caknowledge.in/impact-gst-automobile-sector/
 https://www.legalraasta.com/gst/impact-of-gst-on-automobilesector/
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dealersindustry-28910.asp
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Impact of GST On Construction Companies

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Project report on “IMPACT OF GST ON

To arrive at a conclusion, detailed studies starting from the gestation segment to

A unmarried tax structure is definitely a welcome move and the introduction of

Transparency and Accountability: - GST will lend an entire lot of transparency in

Compliance and Efficiency :- Thanks to the abolition of various central, nation•

1. GST is a obvious tax and also lessen range of oblique taxes.

4. There isn't any doubt that in manufacturing and distribution of products,

9. Presently, a tax is levied on when a completed product moves out from a

Overall, GST is anticipated to assist supply an entire lot of required transparency

Impact of GST on real estate

The manufacturing of a complicated building, civil structure, or a factor thereof,

According to the JM Financial document on GST, for states with non-composite

Abhishek Anand, assistant vice-president (Equity Research), JM Financial Ltd,

Nevertheless, stamp duty will continue to be applicable, regardless of whether or

Will GST help home consumers?

It is critical to notice that if GST exemption is prolonged to less luxurious housing

Government directs developers not to fee GST on less costly housing

Impact of GST on property prices – Luxury segment

HSN Description of goods Rate

Chapter 72 Steel 18 per cent

2523 Cement 28 per cent

6802 Marble and granite 28 per cent

2515 Blocks of marble and granite 12 per cent

2505 & 2517 Natural sand, pebbles, gravel 5 per cent

8428 Lifts and elevators 28 per cent

Reverse fee mechanism in GST and its effect on advent expenses

How are banks laid low with the GST?

GST on maintenance fees of housing societies

Unfinished home GST hurts

OBJECTIVES OF THE STUDY

2.2 OBJECTIVES OF THE STUDY

2.3 ADDITIONAL RESEARCH QUESTIONS

Traditionally India's tax regime relied intently on indirect taxes. Revenue

3.1 LITERATURE REVIEW

• (Saira et al, 2010) , Based on the statistics of the implementation by way

• Dr. R. Vasanthagopal (2011) , Conducted a have a look at on , “ GST in

• According to Torgler (2011) , tax morale is important to taxpayer

• Dr. R. Vasanthagopal, (2011)“GST in India: A Big Leap inside the

• Jana V. M., Sarma& V Bhaskar (2012) “A Road Map for implementation

• BeriYogita (2012) “Problems and Prospects of Goods and Services Tax

• Djawadi and Fahr ( 2013) , This examine is mentioned that records

• Agogo Mawuli (2014) studied “Goods and Service Tax-An Appraisal”

• Nishitha Guptha (2014) in her examine stated that implementation of

• Shefali Dani (2015) has suggested that GST management is an irresolute

• International Journal of innovative research in sociology and humanities

• Shakwipee ( 2017) , A have a look at behavior at the inquring the level of

• Vineet Chauhan (2018) , Conduct a take a look at on “ Measuring

• Bar hate (2018) , observed that people have no doubt whatsoever

GST will swift authorities awareness on relying direct tax (profits) to

About my Research Problem :

The present research is exploratory in nature. Since GST is a new phenomenon in

➢Exploratory Research: All research projects must start with exploratory

Basis of Convenience Sampling (Non-Probability)

 MS Excel: Pictorial & graphical representation of data

METHODS FOR PRESENTATION OF DATA

Sampling Technique: The Project will be non-probability sampling.

Research Type: The project will be exploratory research type

Sampling techniques can be broadly classified in to two types:

Tools for analysis

1. How do you get to know about GST?

Particulars No. of Respondents Percentage

Particulars No. of Respondents Percentage