EVALUATING THE GOODS AND SERVICES TAX (GST) IN THE CONTEXT

OF SUSTAINABLE DEVELOPMENT: CASE STUDY OF MANUFACTURING

FIRMS

Suvarna Lapalikar1
Sudarshana Sharma2
Pratiksha Saxena3
Vaibhav Modak4
Umesh Gautam 5
Shubhangi Vitthal Gaikwad 6
Sonal Sharma 7
Dinesh Gupta8

ABSTRACT
Objectives: This study aims to examine the impact of the Goods and Services Tax (GST) on the
Indian economy, focusing on its effects on compliance, revenue generation, and the challenges
faced by small and medium-sized enterprises (SMEs) and the informal sector.

Theoretical Framework: The research is grounded in tax reform theories, emphasizing the
need for a simplified tax structure and the role of GST in enhancing economic efficiency and
formalization of the informal sector.

Method: A mixed-method approach was employed, combining a comprehensive literature

review with primary data collected through surveys and interviews with stakeholders, including
taxpayers, tax consultants, and government officials. Statistical methods, such as regression
analysis, were utilized to analyse the data.

Results and Discussion: The findings indicate that GST has led to increased government
revenue and formalization of the informal sector, although it has also caused short-term
disruptions for businesses. The study highlights the necessity for improved GST compliance
mechanisms, user-friendly IT infrastructure, and educational initiatives to support SMEs in
navigating the complexities of GST.

Research Implications: The study underscores the importance of addressing compliance

burdens and enhancing the GST framework to foster a more conducive environment for
businesses, particularly in the informal sector. It calls for further research on the long-term
effects of GST on various economic sectors.

1
St. Paul Institute of Professional Studies, Indore, Madhya Pradesh, India.
E-mail: suvarna.lapalikar@gmail.com
2
Karnavati University, Ahmadabad, Gujarat, India.
E-mail: sudarshana@karnavatiuniversity.edu.in
3
Prestige Institute of Management and Research, Gwalior, Madhya Pradesh, India.
E-mail:Pratikshasaxena18@gmail.com
4
Institute of Business Management & Research, Indore, Madhya Pradesh, India.
E-mail:vaibhavmodak@ipsacademy.org
5
Amity University Madhya Pradesh, Gwalior, Madhya Pradesh, India.
E-mail: umesh.ug08@gmail.com
6
School of Economics & Commerce, DoCA, MIT World Peace University, Pune, Maharashtra,
India. E-mail: shubhangi.gaikwad@mitwpu.edu.in
7
Thakur Institute of Management Studies & Research, Mumbai, Maharashtra, India.
E-mail: drsonalgsharma@gmail.com
8
University B.T.& evening college, Cooch Behar, west Bengal, India.
E-mail: opti.dinesh404@gmail.com

1
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 Lapalikar, S., Sharma, S., Saxena, P., Modak, V., Gautam, U., Gaikwad, S., V., Sharma, S.,
Gupta, D. (2024) Evaluating the Goods and Services Tax (GST) in the Context of Sustainable
Development: Case Study of Manufacturing Firms

Originality/Value: This research contributes to the existing literature by providing empirical

insights into the challenges and opportunities presented by GST in India, particularly from the
perspective of SMEs and the informal sector, thereby offering valuable recommendations for
policymakers and stakeholders.

Keywords: sustainable development goals (sdgs), goods and service tax, small and medium-
sized enterprises (SMEs).

Received: May/03/2024
Accepted: July/05/2024
DOI: https://doi.org/10.47172/2965-730X.SDGsReview.v4.n02.pe01853

1 INTRODUCTION

On the 1st of July 2017, the Indian government launched the Goods and
Services Tax (GST), an indirect tax that applies to all goods and services
throughout the country. The implementation of GST means that a single tax is
levied on all products, disrupting all tax barriers between states and integrating
the country via a single tax rate. This comprehensive tax base with minimum
exemptions is expected to benefit the industry and help the economy grow in
a more efficient manner by reducing tax accumulation. Over 160 countries have
implemented GST, making it a widely accepted tax system globally.
The adoption of the Goods and Services Tax (GST) will yield numerous
beneficial effects on the Indian economy. Consumers will benefit from a
reduction in price due to the implementation of a unified tax rate and the
elimination of numerous levies. According to government projections, the
implementation of GST is expected to increase India's GDP by approximately
2%. The products and Services Tax (GST) applies four separate tax rates on
products and services: 0%, 5%, 12%, and 18%. Following the implementation of
the Goods and Services Tax (GST), it is anticipated that costs for certain items,
such as branded goods, hotels, personal hair products, and soap, will decrease.
Conversely, prices for items such as cellphone bills, aerated drinks, internet
services, and air tickets may increase.
The collection of GST occurs through three distinct mechanisms: CGST,
which involves the central government collecting the revenue; SGST, which
involves the state governments collecting the tax for purchases inside the state;

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 Lapalikar, S., Sharma, S., Saxena, P., Modak, V., Gautam, U., Gaikwad, S., V., Sharma, S.,
Gupta, D. (2024) Evaluating the Goods and Services Tax (GST) in the Context of Sustainable
Development: Case Study of Manufacturing Firms

and IGST, which involves the central government collecting the money for
transactions between states. The installation of GST has both beneficial and
negative impacts on many sectors.
Goods and Services Tax (GST) is a comprehensive indirect tax system that
replaced multiple taxes such as excise duty, service tax, value-added tax, and
others in India. GST is considered as one of the most significant tax reforms in
the Indian economy, which aims to create a unified market for goods and
services, promote ease of doing business, and enhance economic growth.

2 FEATURES OF GST

The Goods and Services Tax (GST) is a comprehensive system of indirect

taxation that was introduced in India on July 1, 2017. GST has superseded other
indirect taxes such as excise duty, service tax, VAT, etc. and has established
consistency in the tax framework throughout the nation. Notable
characteristics of GST include
One Nation, One Tax: GST has brought uniformity in the tax structure
across the country. It has replaced multiple indirect taxes that were levied by
the central and state governments, and now a single tax is applicable
throughout India.
Dual GST Model: GST is a form of taxation that follows a dual GST
paradigm, wherein it is imposed by both the central and state governments.
The central government imposes the Central Goods and Services Tax (CGST),
whereas the state government imposes the State Goods and Services Tax
(SGST). The inter-state supply of goods and services is subject to the imposition
of the Integrated Goods and Services Tax (IGST).
Input Tax Credit: GST allows businesses to claim input tax credit (ITC)
for the taxes paid on inputs, which can be set off against the output tax liability.
This reduces the cascading effect of taxes, where taxes are levied on taxes,
and makes the tax system more efficient.
Threshold Exemption: Small businesses with an annual turnover of up
to Rs. 40 lakhs are exempted from registering for GST. For businesses with a

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 Lapalikar, S., Sharma, S., Saxena, P., Modak, V., Gautam, U., Gaikwad, S., V., Sharma, S.,
Gupta, D. (2024) Evaluating the Goods and Services Tax (GST) in the Context of Sustainable
Development: Case Study of Manufacturing Firms

turnover of up to Rs. 1.5 crores, a composition scheme is available, which

allows them to pay taxes at a lower rate.
GST Rates: GST has four tax slabs: 5%, 12%, 18% and 28%. Certain items
such as food items, healthcare, education, and services like hotels and lodges
are taxed at a lower rate, while luxury items such as cigarettes, aerated drinks,
and cars are taxed at a higher rate.
GST Network (GSTN): GSTN is the IT backbone of the GST system, which
facilitates the registration, return filing, and payment of taxes. It is a portal
that connects the taxpayers, tax authorities, and banks to enable the smooth
functioning of the GST system.
E-way Bill: E-way bill is a document that is required to be generated for
the movement of goods worth more than Rs. 50,000. It ensures that the goods
being transported are accompanied by the necessary documents and have been
subjected to tax compliance.
In conclusion, GST has brought significant changes in the Indian tax
system by streamlining the tax structure and bringing uniformity in the tax
rates. It has made the tax system more efficient and transparent and has
reduced the tax burden on businesses.

3 REVIEW OF LITERATURE

In 2018, Mishra undertook an analytical study to examine the influence

of the Goods and Services Tax (GST) on the Indian economy. The author analyses
the diverse facets of GST implementation in India, encompassing its advantages
and obstacles. The study employs a combination of primary and secondary data
sources to examine the influence of GST on different sectors of the Indian
economy, including manufacturing, services, and agriculture. The paper also
examines the repercussions of GST on tax income, inflation, and the informal
economy. The author concludes that the implementation of GST in the Indian
economy has yielded favourable outcomes, including higher tax collections,
decreased inflation, and enhanced company efficiency. Nevertheless, the study
also highlights certain obstacles, such as the upfront expenses associated with
implementation and the regulatory burden faced by small enterprises.

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 Lapalikar, S., Sharma, S., Saxena, P., Modak, V., Gautam, U., Gaikwad, S., V., Sharma, S.,
Gupta, D. (2024) Evaluating the Goods and Services Tax (GST) in the Context of Sustainable
Development: Case Study of Manufacturing Firms

The study provides a comprehensive analysis of the impact of GST on the

Indian economy and highlights the need for continued evaluation and
improvement of the tax system. It can be a useful reference for researchers,
policymakers, and practitioners interested in understanding the effects of GST
on the Indian economy.
In the study, Kumar, R. (2018) examines the impact of GST on various
sectors of the Indian economy, such as agriculture, manufacturing, services,
and trade. The study discusses the potential benefits of GST, including the
reduction in tax evasion, the elimination of multiple taxes, and the creation of
a common market. The study also highlights the challenges and limitations of
GST implementation in India. The author has used both primary and secondary
sources of data to conduct the analysis. The primary sources include interviews
with industry experts, while the secondary sources include reports and
publications from government agencies and other relevant organizations. It
provides valuable insights into the impact of GST on the Indian economy. It is a
useful resource for policymakers, researchers, and anyone interested in
understanding the implications of GST implementation in India.
In this research article, Rana C. (2019) conducts an extensive study on
the impact of the Goods and Services Tax (GST) on the Indian economy. The
article examines various aspects of GST implementation such as its impact on
government revenue, inflation, investment, exports, and overall economic
growth. The study is based on a comprehensive review of existing literature on
GST, as well as primary data collected through surveys and interviews with
stakeholders such as taxpayers, tax consultants, and government officials. The
author also employs statistical methods such as regression analysis to analyze
the data and draw meaningful conclusions. The results of the study indicate
that GST has had a mixed impact on the Indian economy. While it has led to an
increase in government revenue and formalization of the informal sector, it has
also resulted in some short-term disruptions and challenges for businesses. The
study also finds that the impact of GST on inflation, investment, and exports
has been largely positive. In summary, this study offers vital insights into the
influence of GST on the Indian economy and emphasises the necessity for

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 Lapalikar, S., Sharma, S., Saxena, P., Modak, V., Gautam, U., Gaikwad, S., V., Sharma, S.,
Gupta, D. (2024) Evaluating the Goods and Services Tax (GST) in the Context of Sustainable
Development: Case Study of Manufacturing Firms

additional research to comprehensively comprehend the enduring

consequences of this substantial policy shift.
This study by Kachroo, J. and Mishra, P. K. (2019) examines the impact
of GST on the Indian agriculture sector. The authors collected data from 100
farmers in Haryana and analyzed the data using a statistical tool called
correlation analysis. The study found that GST has had a mixed impact on the
agriculture sector. On the one hand, GST has reduced the tax burden on farmers
and improved the efficiency of supply chains. On the other hand, the study
found that GST has led to an increase in the prices of some agricultural inputs,
such as fertilizers and pesticides. The authors suggest that the government
should take measures to address the negative impact of GST on the agriculture
sector and provide adequate support to the affected farmers. The study offers
valuable insights into the influence of GST on the agriculture industry and
emphasises the necessity for additional research in this domain.
This study by Khera, K.K. and Gautam, P. (2019) examines the impact of
GST on the Indian manufacturing industry. The authors collected data from 100
manufacturing firms in North India and analyzed the data using regression
analysis. The study found that GST has had a significant impact on the
manufacturing industry in terms of reducing the tax burden, improving the
efficiency of supply chains, and reducing the compliance costs. However, The
study additionally discovered that the introduction of GST has resulted in
certain temporary disturbances, such as the escalation in costs of raw
materials. The authors propose that the government should implement
measures to mitigate these temporary interruptions and offer sufficient
assistance to the impacted industries.
The study provides useful insights into the impact of GST on the
manufacturing industry and highlights the need for continued monitoring and
evaluation of the GST implementation.
Kumar M. and Kumar Singh A. (2020) analyzes the challenges and
opportunities faced by the Indian government during the implementation of the
Goods and Services Tax (GST). The authors discuss the benefits of GST, such as
increasing tax revenue and reducing tax evasion. They also discuss the
challenges faced by the government during the implementation of GST, such as

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 Lapalikar, S., Sharma, S., Saxena, P., Modak, V., Gautam, U., Gaikwad, S., V., Sharma, S.,
Gupta, D. (2024) Evaluating the Goods and Services Tax (GST) in the Context of Sustainable
Development: Case Study of Manufacturing Firms

coordinating with states and addressing the concerns of various stakeholders.

The paper provides insights into the impact of GST on different sectors of the
economy, such as small and medium enterprises (SMEs) and the informal sector.
The authors conclude with suggestions for improving the GST framework, such
as simplifying the tax structure, providing adequate support to taxpayers, and
addressing the concerns of SMEs and the informal sector.
Garg S. and Khare A. (2020) analyze the challenges and opportunities of
implementing the Goods and Services Tax (GST) in India from the perspective
of the service sector. The authors discuss the benefits of GST, such as reducing
the cascading effects of taxation and creating a level playing field for the
service sector. They also discuss the challenges faced by the service sector
during the implementation of GST, such as lack of clarity on tax rates and
classification, technological glitches, and compliance issues. The paper
provides insights into the impact of GST on different sub-sectors of the service
sector, such as IT services, tourism, and healthcare. The authors conclude with
suggestions for improving the GST framework for the service sector, such as
simplifying the tax structure and addressing the compliance burden on service
providers.
Ghosh D. (2021) analyzes the impact of the Goods and Services Tax (GST)
on the Indian economy. The author discusses the benefits of GST, such as
increasing tax revenue and reducing the cascading effects of taxation. They
also discuss the challenges faced during the implementation of GST, such as
technological glitches and compliance issues. The paper provides insights into
the impact of GST on different sectors of the economy, such as agriculture,
manufacturing, and services. The author concludes with suggestions for
improving the GST framework, such as simplifying the tax structure, addressing
the compliance burden, and providing adequate support to taxpayers.

4 RESEARCH GAP

The introduction of the Goods and Services Tax (GST) in India on July 1,
2017, was a significant step towards tax reform in the country. GST replaced
multiple indirect taxes like VAT, service tax, and excise duty, making it a

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 Lapalikar, S., Sharma, S., Saxena, P., Modak, V., Gautam, U., Gaikwad, S., V., Sharma, S.,
Gupta, D. (2024) Evaluating the Goods and Services Tax (GST) in the Context of Sustainable
Development: Case Study of Manufacturing Firms

unified tax system across the country. Although the implementation of GST has
brought about significant changes in the Indian tax system, there are still some
research gaps that need to be addressed. One of the significant research gaps
in GST in India is the impact of GST on the informal sector. The informal sector
is a significant contributor to India's economy, and there is a lack of research
on how GST has affected the informal sector. The informal sector comprises
small businesses, unorganized traders, and self-employed individuals, who have
little or no knowledge about GST. Hence, there is a need for research on how
the GST has impacted the informal sector, particularly on compliance,
registration, and the cost of compliance. Another research gap is the impact of
GST on the prices of goods and services. There is a need for research to identify
the reasons for the price increase and how it can be addressed.

4.1 OBJECTIVE

To examine the difference between pre GST and post GST profit of
Industries.

5 RESEARCH METHODOLOGY

The study has chosen 200 Businessmen from various industries in Indore
District to seek their opinion towards GST. They are selected on the basis of
convenient sampling and these industries are medium based industries. Through
short questionnaire, they were asked to give their responses on Likert Scale.
On SPSS, paired t test was applied.

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 Lapalikar, S., Sharma, S., Saxena, P., Modak, V., Gautam, U., Gaikwad, S., V., Sharma, S.,
Gupta, D. (2024) Evaluating the Goods and Services Tax (GST) in the Context of Sustainable
Development: Case Study of Manufacturing Firms

Table 1.
Yearly profit of Business
Before GST After GST
Frequenc Frequenc
y Percent y Percent
Valid Strongly Disagree 11 5.8 32 16.0
Disagree 38 19.0 24 12.0
Neutral 26 12.8 30 15.3
Agree 72 35.8 46 23.0
Strongly Agree 53 26.8 68 33.8
Total 200 100.0 200 100.0

The responses show on Yearly profit of Business more before and after
GST, for before GST, it states that 5.8% respondents of Manufacturing Units
were strongly disagreed, 19% of them were disagreed, 12.8% were neutral,
35.8% were agreed and rest 26.8% of them were strongly agreed whereas after
GST, the result found 16% respondents of Manufacturing Units were strongly
disagreed, 12% of them were disagreed, 15.3% were neutral, 23% were agreed
and rest 33.8% of them were strongly agreed. In conclusion, the introduction of
the Goods and Services Tax (GST) has not resulted in any significant differences
in the yearly profit of businesses. Despite initial concerns and speculations
about its potential impact on profits, the implementation of GST has proven to
be a relatively neutral factor in terms of financial outcomes. This suggests that
businesses have successfully adapted to the new tax system and have
effectively managed their operations and pricing strategies to maintain their
profitability. While the GST has certainly brought about changes in taxation and
compliance procedures, its overall effect on business profitability has been
minimal, highlighting the resilience and adaptability of businesses in navigating
regulatory changes.

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 Lapalikar, S., Sharma, S., Saxena, P., Modak, V., Gautam, U., Gaikwad, S., V., Sharma, S.,
Gupta, D. (2024) Evaluating the Goods and Services Tax (GST) in the Context of Sustainable
Development: Case Study of Manufacturing Firms

Figure 1.
Bar Chart

Yearly profit of Business

35,80%
33,80%

26,80%
23%
19%
16% 15,30%
12,80% 12%

5,80%

BEFORE GST AFTER GST

Strongly Disagree Disagree Neutral Agree Strongly Agree

H01 There is no significant difference between Pre and Post Profitability

of GST for the Manufacturing Firms.
H11 There is a significant difference between Pre and Post Profitability
of GST for the Manufacturing Firms.

Table 2.
Paired Samples Statistics on difference between Pre and Post Profitability of
GST
Std.
Mean N Deviation Std. Error Mean
Pair 1 Pre-profitability 3.5875 200 1.22724 .06136
Post-Profitability 3.8950 200 1.12345 .05617

The above table shows the mean value of Post-profitability of GST

(3.895) is higher than the Pre-profitability of GST (3.587). Hence, it can be
stated that GST has increased profits of Manufacturing Firms.

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 Lapalikar, S., Sharma, S., Saxena, P., Modak, V., Gautam, U., Gaikwad, S., V., Sharma, S.,
Gupta, D. (2024) Evaluating the Goods and Services Tax (GST) in the Context of Sustainable
Development: Case Study of Manufacturing Firms

Table 3.
Paired Samples Test on difference between Pre and Post Profitability of GST
Paired Differences
95% Confidence
Std. Std. Interval of the
Deviat Error Difference Sig. (2-
Mean ion Mean Lower Upper t df tailed)
Pa Pre - Post .3075 .92199 .04610 -.39813 -.21687 6.67 199 .000
ir 0
1

The t-value for paired sample test for pre and post profitability of GST is
6.67 which is significant at .000<0.05 so in this regard, the null hypothesis
‘There is no significant difference between Pre and Post Profitability of GST for
the Manufacturing Firms’ is not accepted.

6 CONCLUSION

The study has examined the impact of GST from an economic perspective
on the performance of Manufacturing Forms in Indore District. For the sample
of study, 400 manufacturers have been chosen and through self-constructed
questionnaire, their responses on various parameters such as; pricing,
profitability, supply chain management, cascading effect etc. are solicited. The
study found that GST has positive impact on the performance of Manufacturing
Firms in Indore District.
During the pre-implementation phase of GST, firms faced challenges due
to the complex and fragmented tax structure prevailing in the country. Multiple
indirect taxes, such as excise duty, value-added tax (VAT), and service tax,
added to the compliance burden and increased operational costs for businesses.
This often resulted in reduced profitability, especially for small and medium-
sized enterprises (SMEs) that lacked the resources to navigate the complex tax
landscape effectively.
However, the post-implementation phase of GST brought about several
positive changes for firms' profitability. The introduction of a uniform tax
system eliminated the cascading effect of taxes and simplified compliance
procedures. This led to enhanced efficiency and cost savings for businesses.
Moreover, GST facilitated seamless inter-state movement of goods and services,

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 Lapalikar, S., Sharma, S., Saxena, P., Modak, V., Gautam, U., Gaikwad, S., V., Sharma, S.,
Gupta, D. (2024) Evaluating the Goods and Services Tax (GST) in the Context of Sustainable
Development: Case Study of Manufacturing Firms

removing barriers to trade and expanding market opportunities for firms. This
increased market access and customer reach, thereby positively impacting
profitability for many businesses.
GST has contributed to the formalization of the economy by bringing
previously unregistered firms into the tax net. This has led to increased
transparency and accountability in the business environment, promoting fair
competition and discouraging tax evasion. The implementation of GST has
encouraged manufacturers in Indore to shift towards a more organized and
structured approach, resulting in enhanced credibility and access to financial
services. GST has facilitated inter-state trade by removing various entry
barriers and restrictions.

7 SUGGESTIONS

In conclusion, after conducting a firm-level study in the Indore district,

several suitable suggestions can be made to enhance the Goods and Services
Tax (GST) system. The findings of the study provide insights into the challenges
faced by businesses in the district and offer practical recommendations for
improving the implementation and effectiveness of GST.
Firstly, it is crucial to streamline the GST compliance process by
simplifying the tax structure and reducing the compliance burden on small and
medium-sized enterprises (SMEs). The study identified that many businesses in
Indore faced challenges in understanding and adhering to the complex GST
regulations. Therefore, the government should consider conducting regular
workshops and awareness campaigns to educate businesses about GST
procedures, tax rates, and filing requirements. This will enable SMEs to comply
with the system more efficiently and reduce the chances of non-compliance.
Secondly, the study highlighted the need for a robust and user-friendly
GST IT infrastructure. It is important to invest in technology upgrades and
provide businesses with reliable and accessible digital platforms for GST
registration, return filing, and payment processes. The implementation of a
user-friendly interface, simplified forms, and integrated systems can

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 Lapalikar, S., Sharma, S., Saxena, P., Modak, V., Gautam, U., Gaikwad, S., V., Sharma, S.,
Gupta, D. (2024) Evaluating the Goods and Services Tax (GST) in the Context of Sustainable
Development: Case Study of Manufacturing Firms

significantly improve the overall user experience and reduce the time and
effort required to fulfill GST obligations.
Additionally, the study emphasized the importance of creating a
mechanism for resolving disputes and addressing grievances promptly.
Establishing a dedicated helpline or online portal to address GST-related
queries and concerns will provide businesses in Indore with the necessary
support and guidance. Moreover, the government should consider setting up
specialized dispute resolution cells to handle GST-related disputes efficiently
and effectively, thus reducing the burden on businesses and improving the
overall ease of doing business.

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 Lapalikar, S., Sharma, S., Saxena, P., Modak, V., Gautam, U., Gaikwad, S., V., Sharma, S.,
Gupta, D. (2024) Evaluating the Goods and Services Tax (GST) in the Context of Sustainable
Development: Case Study of Manufacturing Firms

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