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GST: A TAX REFORM FOR SUSTAINABILITY OF INDIAN HANDICRAFTS
Corresponding Author(s) : Kritika Tekwani
Humanities & Social Sciences Reviews,
Vol. 7 No. 1 (2019): January
Abstract
Purpose of the study: Taxation is one of a tool, which helps the Government for the achievement of the goal of sustainable development for every sector including handicraft. The objectives of this study are to know about Goods and Services Tax & its inferences on sustainable development of Indian handicrafts and to identify the role of GST as tax reform in the sustainable development of handicrafts sector in India.
Methodology: The Descriptive method of research has been used to gather information about the existing conditions of GST and Handicraft sector of India. This study is based on secondary data. The data has been taken from different journals, books, magazines, websites, and published data from government institutions. This study is explanatory in nature. The collected data from different sources has been reviewed and data relevant to the handicraft sector further analyzed.
Main Findings: GST brought transparency in the tax system and it also eliminated the multiple taxes, which ultimately increases the final prices. This study revealed that GST would make Indian handicrafts more competitive in the domestic and foreign markets.
The implication of the study: GST implemented on July 01, 2017 with the aim of simplification of the tax system, fiscal structure, United Indian Market, and sustainable development in India. It is a comprehensive value-added tax which merged different taxes including VAT, service tax, surcharges, CST, etc.
Novelty/Originality of this study: GST is new tax reform in India, only a few studies have been done on it. As per the researcher ’ s best knowledge few studies have been carried out on GST and handicraft sector, but none of the study is carried out on this topic.
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- (2012). A Report on Implications of Goods and Services Tax (GST) for Indian Textiles Sector. Ministry of Textiles. Government of India. Retrieved.
- (2019a). Retrieved. (2019b). Retrieved.
- ., S. D. (2016). GOODS AND SERVICE TAX IN INDIA: A SWOT ANALYSIS. International Journal of Research
- -Granthaalayah, 4(12):188–195.
- Ahmad, E. and Poddar, S. (2009). GST Reforms and Intergovernmental Considerations in India. Asia Research Centre, Working Paper, 26:1–43.
- Ahmad, M. A. R., Ismail, Z., and Halim, H. A. (2016). Awareness and perception of taxpayers towards goods and services tax (GST) implementation. International Journal of Academic Research in Business and Social Sciences, 6(11):75–93. DOI: https://doi.org/10.6007/IJARBSS/v6-i11/2375
- Al-Dalaien, B. O. A. and Al-Kasasbeh, Y. S. Y. (2018). Impact Assessment of Goods and Services Tax (GST) on Business- A Survey of Producers. Perception. Mediterranean Journal of Basic and Applied Sciences, 2(2):18–25.
- Bano, R. (2016). Role of Handicrafts in Economic Development: A Case Study of Carpet Industry of India. International Journal of Management & Social Sciences, 4(3):512–525. DOI: https://doi.org/10.21013/jmss.v4.n3.p1
- Bhika, L. J. (2017). Impact of GST on Indian economy. International Journal of Recent Scientific Research, 8(6):17505– 17508.
- Dani, S. (2016). A Research Paper on an Impact of Goods and Service Tax (GST) on Indian Economy. Business and Economics Journal, 7(4):1–2.
- Khurana, A. and Sharma, A. (2016). Goods and Services Tax in India-A positive reform for indirect tax system. Interna- tional Journal of Advanced Research, 4(3):500–505.
- Khurana, C. and Paliwal, V. (2014). An Analysis of Problems Faced by Handicraft Sector in Jaipur. Rajasthan. Interna-
- tional Journal of Research Science & Management, 1(4):1–6.
- Kumar, K. A. (2017). Impact of GST on Indian Business and Economy. International Journal of Engineering Technology Science and Research, (7):4–4.
- Mawuli, A. (2014). Goods and services tax: An appraisal. PNG Taxation Research and Review Symposium, 29:30–31. Monika, S. and Upasana, D. (2015). GST in India: A Key Tax Reform. International journal of research, 3(12):133–141.
- Oberoi, J. (2017). GST-A Game Changer for the Textile Sector in India. International Journal of Advanced Research, 3(7):189–194.
- Rekha, R. (2018). Retrieved.
- Rizvi, S. N. F. (2017). Impact of Goods and Service Tax (GST) on Startup Businesses. Finance & Marketing Technology, 1(03):31–40. Journal of Accounting.
- Saurabh, G., Sarita, S., Munindra, Komal, and Hemraj, K. (2017). Good and Service Tax: An International Comparative Analysis. International Journal of Research in Finance and Marketing, 7(5):29–38.
References
(2012). A Report on Implications of Goods and Services Tax (GST) for Indian Textiles Sector. Ministry of Textiles. Government of India. Retrieved.
(2019a). Retrieved. (2019b). Retrieved.
., S. D. (2016). GOODS AND SERVICE TAX IN INDIA: A SWOT ANALYSIS. International Journal of Research
-Granthaalayah, 4(12):188–195.
Ahmad, E. and Poddar, S. (2009). GST Reforms and Intergovernmental Considerations in India. Asia Research Centre, Working Paper, 26:1–43.
Ahmad, M. A. R., Ismail, Z., and Halim, H. A. (2016). Awareness and perception of taxpayers towards goods and services tax (GST) implementation. International Journal of Academic Research in Business and Social Sciences, 6(11):75–93. DOI: https://doi.org/10.6007/IJARBSS/v6-i11/2375
Al-Dalaien, B. O. A. and Al-Kasasbeh, Y. S. Y. (2018). Impact Assessment of Goods and Services Tax (GST) on Business- A Survey of Producers. Perception. Mediterranean Journal of Basic and Applied Sciences, 2(2):18–25.
Bano, R. (2016). Role of Handicrafts in Economic Development: A Case Study of Carpet Industry of India. International Journal of Management & Social Sciences, 4(3):512–525. DOI: https://doi.org/10.21013/jmss.v4.n3.p1
Bhika, L. J. (2017). Impact of GST on Indian economy. International Journal of Recent Scientific Research, 8(6):17505– 17508.
Dani, S. (2016). A Research Paper on an Impact of Goods and Service Tax (GST) on Indian Economy. Business and Economics Journal, 7(4):1–2.
Khurana, A. and Sharma, A. (2016). Goods and Services Tax in India-A positive reform for indirect tax system. Interna- tional Journal of Advanced Research, 4(3):500–505.
Khurana, C. and Paliwal, V. (2014). An Analysis of Problems Faced by Handicraft Sector in Jaipur. Rajasthan. Interna-
tional Journal of Research Science & Management, 1(4):1–6.
Kumar, K. A. (2017). Impact of GST on Indian Business and Economy. International Journal of Engineering Technology Science and Research, (7):4–4.
Mawuli, A. (2014). Goods and services tax: An appraisal. PNG Taxation Research and Review Symposium, 29:30–31. Monika, S. and Upasana, D. (2015). GST in India: A Key Tax Reform. International journal of research, 3(12):133–141.
Oberoi, J. (2017). GST-A Game Changer for the Textile Sector in India. International Journal of Advanced Research, 3(7):189–194.
Rekha, R. (2018). Retrieved.
Rizvi, S. N. F. (2017). Impact of Goods and Service Tax (GST) on Startup Businesses. Finance & Marketing Technology, 1(03):31–40. Journal of Accounting.
Saurabh, G., Sarita, S., Munindra, Komal, and Hemraj, K. (2017). Good and Service Tax: An International Comparative Analysis. International Journal of Research in Finance and Marketing, 7(5):29–38.