Abstract
The concept of Goods and Service Tax (GST) is one of the biggest revolutions in decades around the world. The main objective of this research is to investigates that the revenue collection of Goods and Service Tax (GST) month wise and its growth. It also examines that total number of 3 (b) and GSTR I return filed in Goods and Service Tax (GST) month, quarter wise and its growth rates as on 30th April, 2019 in India. This study used secondary data. This study used to descriptive statistical tools used such as tables, charts, percentage analysis for analysis and interpretation of data. Inferential statistical tools used such as correlation, paired t test to test various hypotheses of the study. The study period covered since its implementation to as on 30th April, 2019. This results of study indicated that total number of 1,31,88,052 GST tax payer and totally 20,31,884 (Rs in Thousand Crore) collected India as on 30th April, 2019. Out of twenty months positive growth having in eleven month and negative growth having nine months compared with previous month collections. This study finally suggested that government of India, ministry of finance, ministry of commerce and various State/UT governments to take necessary reforms in GST registrations, filing of GST return,payment of tax, refund, interest,penalty and various types GST exemptions different type of tax payers. It is finally concluded that the introduction of GST in India has replaced all indirect taxes in one tax and common market for entire nation it wills bring positive energy for entrepreneurs for staring new business ventures in India.
Highlights
Economic Activity wise Total Number of active companies Up to 31.12.2018 Table 3 revealed that the economic activity wise total number of active private, public and total companies and its authorized capital (Rs in Crore)
Economic activity wise total number of active private companies were in 10,90,127 with authorized capital of Rs. 22,37,639.27 (Rs in Crore), total number of active public companies were in 66,247 with authorized capital of Rs. 44,23,399.01 (Rs in Crore) and total number of active total companies were in 11,56,374 with authorized capital of Rs. 66,61,038.28 (Rs in Crore) as on 31.12.2018 in India
Total Number of 3 (B) and GSTR 1 ReturnsFiledin Goods and Service Tax as on 31st March, 2019 Table 7 shows that total numbers of 3(B) and GSTR-1 returns were filed in Goods and Services Tax (GST) as on 31.03.2019 in India
Summary
Economic Activity wise Total Number of active companies Up to 31.12.2018 Table 3 revealed that the economic activity wise total number of active private, public and total companies and its authorized capital (Rs in Crore). Economic activity wise total number of active private companies were in 10,90,127 with authorized capital of Rs. 22,37,639.27 (Rs in Crore), total number of active public companies were in 66,247 with authorized capital of Rs. 44,23,399.01 (Rs in Crore) and total number of active total companies were in 11,56,374 with authorized capital of Rs. 66,61,038.28 (Rs in Crore) as on 31.12.2018 in India. Table 6that the total amount of revenue collection of Goods and Services Tax (GST)month wise (Rs in Thousand Crore) from its implementation to as on 30.04.2019 in India.
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