A

PROJECT REPORT ON

” A CONCEPTUAL STUDY OF GST IN D. B. MURCHITE AND ASSOCIATES”

SUBM ITTED TO

Savitribai Phule Pune University, Pune

IN THE PARTIAL FULFILMENT OF

MASTER OF BUSINESS ADMINISTRATION

SUBMITTED BY:

Akash Anton Pandit

(BATCH YEAR 2022-2024)

UNDER THE GUIDANCE OF

Prof. Dr. Dattatraya Jadhav

Trinity College of Engineering and Research, Kondhawa,

Pune - 411048
CERTIFICATE
 DECLARATION BY THE STUDENT

I, the undersigned, hereby declare the project entitled " A CONCEPTUAL STUDY OF GST IN
D.B.MURCHITE AND ASSOCIATES " written & submitted by me to the Savitribai Phule Pune
University, Pune in partial fulfilment of the requirements for the award of degree of Master of
Business Administration under the guidance of Prof. Dr. Dattatraya Jadhav Sir. I t is my
original work & the conclusion drawn therein are based on the material collected by me.

Place: Pune

Date:

Akash Pandit
 ACKNOWLEDGEMENT
The success of any Project Report depends largely on the encouragement and guidelines of many
people. I take this opportunity to express my gratitude to the people who have been instrumental in
the successful completion of the project. I would like to extend my sincere thanks to all of them.

This Project Report would not have been possible without the guidance and support of my project guide
Prof. Dr. Dattatraya Jadhav Sir Trinity Institute of Management, who with her technical
know-how and experience guided from the very start. It is by virtue of her valuable suggestions and
mentoring that this project report has materialized into concrete form And I am extremely grateful for the
confidence best owed in me and entrusting my project. I feel deeply honored in expressing my sincere
thanks to Shubham sir, for making resources available at the right time and providing valuable insights
leading to the successful completion of my project.

I am thankful to Director Dr. Preeti Sharma of Trinity College of Engineering and Research for their
kind support.

Date: / / 2024 Mr. Akash Pandit

Place: Pune SEM III, MBA

 TABLE OF CONTENTS

1 Executive summary 1-2

2 Company profile 3-9

3 Objectives & need of the study 10-12

4 Literature Review 13-14

5 Outline of The Problem 15-26

6 Research methodology 27-28

7 Data Analysis 29-35

8 Findings 37

9 Suggestions 38

10 Key Learnings 39

11 Limitations 40

12 Conclusion 41

13 Bibliography 42-43

14 Appendix 44-46
 CHAPTER 1
EXECUTIVE SUMMARY

1
 EXECUTIVE SUMMARY

This report is all about my internship in D.B. MURCHITE & ASSOCIATES. The main aim of doing
internship under the CA firm is to interact with the professional bodies and gain some practical
knowledge about the different organizations. My objective of this report is to share my experience
during internship period. This report provides an analysis on the working of the employees in the
organization. This report is the outcome of the Summer Internship program and summary of my
work which I have done in D.B. MURCHITE & ASSOCIATES. It was a great experience for me to
work here. My theoretical and practical knowledge related to Accounting & Taxation is helping me a
lot.

Through this project report, I have studied about the Accounting and taxation services of D.B.
MURCHITE & ASSOCIATES. This report has been made to see how the Accounting and taxation
services management is done in D.B. MURCHITE & ASSOCIATES.

In my internship period, I took a survey of around 28 clients on GST and their opinion through
questionary. This report provide the analysis of my research through internship at D. B. MURCHITE
AND ASSOCIATES.

2
 CHAPTER 2
COMPANY
PROFILE

3
COMPANY PROFILE

 Profile

D.B.MURCHITE AND ASSOCIATES

Tax consultant

Email ID: [email protected]

Address: off No. 303, 3rd Floor, Shree Sai Narayan Apt, Navi Peth, Pune-411030

 Introduction work of organisation

Introduction of “D.B. MURCHITE &ASSOCIATE”

Chartered Accountants work in a wide range of business sectors and in a broad spectrum of roles, from
Chief Executives to Financial Controllers. Below are a few examples of the type of positions that
Chartered Accountants occupy.

 Tax Accountant
 Management Accountants
 Financial Accountants
 Budget Analysts
 Auditor

4
 Vision & Mission

 Vision Statement

We will become the Tax advisor of choice through the creation of an environment where we want to
give of our best

 Mission Statement

prime objective the provision of an integrated range of client focused services that will exceed our
client's expectations and assist them to improve the and reduce and maintain Tax Liability

We are committed to creating a client focused culture and supporting our staff to achieve the prime
objective.

Our professional and local communities are an integral part of our ability to deliver on this mission

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 DEPARTMENTS OF CA COMPANY

 Audit and Assurance Department: -

Firm provides audit and assurance services to wide range of clients which include performing audits of
financial statements of limited companies, NGOs and partnerships. Firm also performs special assignments
which include management audits, internal audits and investigations. Audit focuses on business issues and
the matters that can impact on the financial statements, whilst also retaining the basic audit procedures that
test the information contained in the financial statements. Services are aimed to comply with the legal
requirements as defined under the various laws and regulations in Pakistan. In doing so firm not only
identify the non- compliances but also assists clients in its rectification, designing remedial measures and
provides guidance to adhere with the laws and regulations. Firm always endeavor to meet reporting
deadlines as set out by the laws and regulations or as mutually agreed with clients, without compromising
the professional, legal and ethical requirements.

Firm's emphasis is on delivering high quality services to clients, adding value to their business through
identification of existing and potential control risks and suggesting best possible measures in the given
circumstances. Firm always places priority to deploying audit teams to clients who are well equipped with
the specific industry knowledge, experience and are professionally sound.

 Tax and Corporate Department: -

Firm delivers taxation services to clients and assists them in obtaining optimal tax benefits available under
the laws. Firm also assist clients to comply with the tax rules and regulations and always keep them updated
with the latest developments and amendments. Tax personnel are qualified professionals, experienced and
knowledgeable. We maintain a comprehensive tax library which always provides ready references and
timely solution in complex situations. Firm provides a comprehensive range of tax services which includes;

 Preparation and submission of annual tax returns.

 Compliance services.
 Tax advisory services.
 Representation and litigation with tax authorities.
 Personal income tax services.

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In organization same staff is handling with tax matters as well as corporate sector. While in corporate firm
provides different kinds of services relating to corporate sector from incorporation to winding up of a
Company.

 Correspondence Department: -

It handles with all the correspondence of the firm by sending the solicited and unsolicited information from
time to time. Effectively and efficiently manage the day-to-day operations of the Correspondence. Interact
with clients to resolve policy and customer issues. Identify trends and remove obstacles in Statement
production and delivery by properly maintaining record of all communication for future reference.

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 SERVICES OFFERING

 Company Registration: -

The most common business composition is to register a Pvt. Ltd. Company. Company registration will
enable limiting the person liability of promoters to the extent of paid-up capital. Promoters have to get DIN
& check availability of the company name.

 One Person Company: -

Register one-person company (u/s 2 (62) of Companies Act 2013) for quick start of your business within
reasonable fees by experienced CA firms.

 LLP Registration: -
Limited Liability Partnership (LLP) has benefit of the company registration & easiness of partnership. It

is apt for small businesses. Experienced CA firms can ease out the process within reasonable fees.

 GST Registration: -
GST registration of business is to enable selling of goods with turnover value beyond a certain limit. Limit
may differ from state to state. It is necessary to get GST Input Tax Credit. Experienced CA firms can ease
out the process within reasonable fees.

 Project Financing: -
Companies need funds to grow their business. Experienced CA can prepare project report for loan
financing to ensure that you get best eligible amount in the shortest time. Generally, fees are charged as
percentage of financed amount.

 ROC Filing:
Periodic returns/forms need to be submitted to Registrar of Companies (ROC) for company's act

compliance. Experienced CA firms can file timely & correct ROC filing in reasonable overall cost.

 TDS Return: -
Income tax act requires TDS (Tax Deducted at Source) deduction file the TDS return on periodic basis by

mentioning TAN No.

 GST Return: -
GST returns to be filed on periodic basis by business to provide information about value of turnover &
total GST liability & mode of payment. Frequency may differ from state to state. Delays will attract
penalty.
Experienced CA firms can ensure compliance with reasonable fees.
8
  Income Tax (Salaried): -
Income tax return of salaried employee can be filed with help of Form 16 & Form 16A. Form 26 AS will
help you in getting information about TDS on salary. Experienced CA firm can help you for better tax
planning and reduce the TDS.

 Income Tax (Business): -

Income Tax returns filing is requirement of Income Tax Act for companies/businesses. Tax Audit Report
helps in compliance of income tax laws. Experienced CA firms can help in reducing non compliance of
income tax laws.

 Tally Accounting: -

Tally is most used accounting software. Small and medium sized business can take services from CA firms
who can allocate accountants to handle accounting for your business.

 Statutory Audit: -

Get the statutory audit of your company under Companies Act from experienced CA firms. Statutory Audit
is compulsory for any type of company.

 Tax Audit: -

Tax Audit is requirement of Income Tax Act for companies/large businesses. Tax Audit
Report helps in compliance of income tax laws & highlights key tax related
information. Experienced CA firms can help in reducing non-compliance of income tax
laws.

 Internal Audit: -

Internal Audit & Internal Financial Control Testing is needed as per Companies Act. Internal Audit is not as
compulsory as Statutory Audit. Internal auditor can add value to your business to arrest leakage & improve
control and efficiency.

9
 CHAPTER 3
Objective and Need of Study

10
 Objectives Of the Study

 To understand and study of GST in D. B. Murchite and Associates, pune.

 To Understand the various aspect of GST

 To know the GST Rate Structure.

 To study the various vouchers of GST

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 NEED OF SIP
 To understand the working environment of the office and to study the practical approach towards
GST..
 Got to understand the problems faced by the CA during filing the GST .

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 LITRATURE REVIEW
The project titled "A Conceptual Study of GST at D.B. Murchite and Associates" aims to delve into the
intricacies of Goods and Services Tax (GST) within the specific context of D.B. Murchite and Associates.
This literature review provides an overview of existing research and insights related to GST, emphasizing its
relevance to the business operations of D.B. Murchite and Associates.

Goods and Services Tax (GST) Overview:

GST is a comprehensive indirect tax levied on the supply of goods and services across India. It replaced
multiple indirect taxes to create a unified and simplified tax structure. Understanding the fundamental
principles and implications of GST is crucial for businesses, including D.B. Murchite and Associates.

Impact of GST on Businesses:

Research has highlighted the impact of GST on businesses, focusing on areas such as compliance, cost
management, and overall financial performance. Businesses, including professional services like those
provided by D.B. Murchite and Associates, have had to adapt their processes to comply with the new tax
regime.

Sector-Specific Analysis:

Literature reveals that the impact of GST varies across different sectors. This section explores studies related
to professional services, shedding light on how consulting and advisory firms, like D.B. Murchite and
Associates, navigate the complexities of GST in their specific industry.

Challenges and Opportunities:

GST implementation has brought forth both challenges and opportunities for businesses. This section
examines the hurdles faced by organizations in adapting to the new tax system while also exploring the
potential advantages that may arise from efficient GST management.

13
Technology Integration:

As businesses strive for GST compliance, technology plays a pivotal role. Literature suggests that the
integration of technology solutions can streamline processes, enhance accuracy, and improve overall
efficiency in managing GST-related tasks. Understanding these technological implications is crucial for
D.B. Murchite and Associates.

Case Studies and Best Practices:

Examining case studies and best practices provides practical insights into how other businesses, possibly
similar to D.B. Murchite and Associates, have successfully navigated the challenges posed by GST.
Extracting lessons from these examples can contribute to informed decision-making and strategy
development.

14
 OUTLINE OF THE PROBLEM

 INTRODUCTION
The goods and services tax (GST) is a value-added tax (VAT) levied on most goods and services sold
for domestic consumption. The GST is paid by consumers, but it is remitted to the government by the
businesses selling the goods and services.

 The goods and services tax (GST) is a tax on goods and services sold domestically for consumption.
 The tax is included in the final price and paid by consumers at point of sale and passed to the
government by the seller.
 The GST is usually taxed as a single rate across a nation.
 Governments prefer GST as it simplifies the taxation system and reduces tax avoidance.
 Critics of GST say it burdens lower income earners more than higher income earners.

Goods and Services Tax (GST) is a transformative tax reform implemented in India on July 1, 2017, with
the aim of unifying the complex indirect tax structure prevalent in the country. This literature review
explores various aspects of the conceptual study of GST in India, focusing on its historical context,
theoretical underpinnings, impact on different sectors, and the challenges faced during its implementation.

HISTORY OF GST IN INDIA

To comprehend the conceptual study of GST in India, it is essential to delve into the historical context of tax
reforms in the country. Prior to GST, India had a fragmented tax structure with multiple indirect taxes at the
central and state levels. The introduction of GST was a significant step toward simplifying this structure and
establishing a unified tax system.

15
TYPES OF GST
Central goods and services tax (CGST): CGST is the tax collected by the Central Government on intra-
state supplies of goods and services. The revenue generated from CGST goes to the central government.

State goods and services tax (SGST): SGST is the tax collected by the State Government on intra-state
supplies of goods and services. The revenue generated from SGST goes to the respective state government.

Integrated goods and services tax (IGST): IGST is applicable on inter-state supplies of goods and services
and imports. It is collected by the Central Government, and later, it is distributed between the Centre and the
States based on the destination principle.

Union territory goods and services tax (UTGST): UTGST is similar to SGST but is applicable to the
Union Territories without legislatures. The revenue collected from UTGST goes to the respective Union
Territory's administration.

Objectives and Advantages of Goods and Services Tax

1. To make tax rate uniform throughout the country : Only of the main objective of GST is
to have uniformity of indirect tax rates throughout the country. GST rates are same
throughout the country. Earlier there were different rates of Sales Tax/Value Added Tax in
the States. Its motto is One Nation, One Market.

2. The main objective or advantage of GST is single tax structure right the manufacturing.

3. To remove cascading effect of Taxes: Cascading effect of taxes means levy of tax on tax.
GST is levied only towards the net value added portion and not towards the full portion of
value as the taxpayer enjoys input tax credit. Goods and services will cost less due to
removal of cascading effect of taxes. Due to input tax credit, GST would be finally paid by
the consumer for the goods and services purchased.

4. To make Indirect Tax Management Effective: The State Government and Central
Government has to administer now mainly one indirect tax, i.e., GST after implementation
of GST. Therefore, administration of GST will be more effective. As a result, tax evasion is
likely to reduce. Previously, management of indirect taxes was a complicated tax for the
Government.

5. To attract more Foreign Direct Investment: Goods and Services Tax helps in ease of
doing business. Therefore, it will attract more Foreign Direct Investment.

16
6. Simple and Easy online Procedure: GST returns are filed online. The online procedure is
simple and easy. Online filing of GST returns helps in making tax administration corruption
free.

7. Composition Scheme for Small Businesses: Composition Scheme is a simple and easy
scheme under GST for small tax payers as they can get rid of GST formalities and pay GST
at a fixed rate of turnover. This scheme can be opted by small tax payer whose turnover is
less than the prescribed limit and is not engaged in making inter-State supplies.

8. Enhanced Productivity of Logistics: After abolition of octroi and entry tax restriction on
inter statement movement of goods has reduced. This has increased the productivity of
logistics companies.

9. Creation of Common National Market: GST has given a boost to India’s tax to Gross
Domestic Product ratio which helps in promoting economic efficiency and long-term
growth. GST has led to uniform tax law and it has formed a common national market.

17
ROLE OF GST IN INDIAN ECONOMY

Technology integration:

GST is largely technology-driven, with businesses required to file returns and comply with regulations
online. This has facilitated better tax administration and reduced manual interventions.

Revenue collection:

GST has been a significant contributor to government revenue. The increased tax base, compliance, and
efficiency in tax collection have positively impacted the government's finances.

Challenges and amendments:

The implementation of GST has faced challenges, including compliance issues, technological glitches, and
periodic changes in tax rates. The government has continuously made efforts to address these challenges
through amendments and simplifications.

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Salient features of GST

Unified tax system

GST replaces multiple indirect taxes at both the central and state levels, leading to a more unified tax
structure.

Dual structure

GST operates on a dual model, comprising Central GST (CGST) levied by the central government and State
GST (SGST) levied by individual state governments.

Destination based consumption tax

GST follows the destination principle, where the tax is levied at the point of consumption rather than the point
of origin, promoting a more equitable distribution of tax revenue among states.

Input tax credit

Businesses can claim ITC, allowing them to set off the tax they have paid on inputs against their output tax
liability. This reduces the cascading effect of taxes.

Comprehensive tax base

GST covers a wide range of goods and services, providing a more comprehensive tax base and reducing the
scope for tax evasion.

Online portal of filling and registration

GST compliance is facilitated through a robust online portal, making it easier for businesses to register, file
returns, and make payments.

Composition scheme

Small businesses with a turnover below a certain limit have the option to opt for the composition scheme,

19
allowing them to pay a fixed percentage of their turnover as tax and file simplified returns.

20
Anti-profiteering measures

To ensure that the benefits of reduced tax rates are passed on to consumers, the National Anti-Profiteering
Authority (NAA) monitors and takes action against instances of unjust enrichment by businesses

GST council

The GST Council, consisting of representatives from the central and state governments, plays a pivotal role
in decision-making, including setting tax rates, thresholds, and addressing implementation issues.

Technology driven compliance

GST compliance relies heavily on technology, with online filing, e-way bills, and electronic invoicing
systems in place to streamline processes and enhance transparency.

Reduce cascading effect

By eliminating multiple layers of taxation and providing input tax credits, GST reduces the cascading effect
of taxes, making the overall tax structure more efficient.

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Following are the charges levied for the items according to the State ,it will differ from
State to State

Goods & Services

Products Taxation rates

 Milk
 Egg
 Curd 0%
 Lassi
 Unpacked foodgrains and paneer

 Sugar
 Package Paneer
 Coffee Beans
5%
 Domestic LPG
 Skimmed Milk
 Cashew Nuts

 Buftter
 Ghee
 Processed Food 12%
 Almonds
 Mobile

 Hair Oil
 Capital Goods
 Toothpaste 18%
 Pasta
 Computers

 Small cars
 Consumer Durables (AC & Fridge) 28%
 Luxury and Sin Items

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PROCEDURE OF GST REGISTERATION
Under Goods And Services Tax (GST), businesses whose turnover exceeds the threshold limit of Rs.40 lakh
or Rs.20 lakh or Rs.10 lakh as the case may be, must register as a normal taxable person. It is called GST
registration. For certain businesses, registration under GST is mandatory.

 Access the official GST portal www.gst.gov.in

 On the GST portal, navigate to the "Services" tab and choose "Registration."
 Select "New Registration" to initiate the GST registration process.
 Provide basic details such as your legal name, PAN (Permanent Account Number), mobile number,
and email address. You will receive an OTP (One Time Password) on the provided mobile number
and email for verification.
 Enter the OTP received on your mobile number and email to verify your identity.
 Fill in Part A of the GST registration form. This includes details like your business name, principal
place of business, date of commencement, etc.
 Upload the required documents, which may include PAN card, proof of business registration,
identity and address proof of promoters/partners/directors, photographs, and bank account details.
 After Part A is verified, you will receive a Temporary Reference Number (TRN). Use this TRN to
fill in Part B of the form, where you will provide additional details about your business.
 After submitting Part B, the application will be verified by the GST authorities. You may be required
to provide additional information or clarification during this stage.
 Once the verification is complete, and the authorities are satisfied with the information provided, you
will receive your GST Registration Certificate. This certificate will contain your GSTIN (Goods and
Services Tax Identification Number).

GSTIN –MEANING OF GSTIN

Goods and Services Identification Number is a 15 digit alphanumeric number.

 First two digit shows the State code,

 Another ten digit shows the Permanents Account Number (PAN)
 Next number shows the entity number of the same PAN holder in a state. Next is alphabet Z by
default.
 Next is the check sum digit

23
HSN (Harmonized System of Nomenclature) Code:

The HSN code is a numerical code assigned to each type of product in a standardized system. It is primarily
used for the classification of goods for taxation purposes.

Businesses that are engaged in the supply of goods are required to mention the HSN code on their invoices
under the GST regime.

The HSN code is typically a 6 to 8 digit code, with more digits providing a more detailed classification of
the product.

24
SAC (Service Accounting Code):

SAC codes are used for the classification of services under GST.

Similar to HSN codes for goods, SAC codes are numeric codes assigned to different types of services to
facilitate the systematic categorization of services for taxation purposes.

Service providers are required to mention the SAC code on their invoices when providing services under the
GST regime.

SAC codes typically consist of 6 digits.

WHAT IS GST RETURN:

A GST return is a document containing details of all income/sales and/or expenses/purchases

that a GST-registered taxpayer (every GSTIN) is required to file with the tax administrative
authorities. This is used by tax authorities to calculate net tax liability.
Under GST, a registered dealer has to file GST returns that broadly include:

 Purchases
 Sales
 Output GST (On sales)
 Input tax credit (GST paid on purchases)

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26
GSTR-2A:

GSTR-2A is an auto-drafted form that is generated for a recipient taxpayer based on the information furnished
by the suppliers in their GSTR-1 returns.

It provides a summary of all the inward supplies (purchases) that have been reported by the suppliers.

Taxpayers can use GSTR-2A to reconcile the details of their purchases as per their own records with the
details auto-populated in GSTR-2A.

GSTR-2B:

GSTR-2B is another auto-generated document that provides a summary of inward supplies for a recipient
taxpayer.

It is designed to provide a more organized and user-friendly view of the input tax credit (ITC) available to the
taxpayer based on the information in GSTR-2A.

GSTR-2B includes additional features such as the facility to download and compare with the previous
months' data.

27
 CHAPTER 4
REASEARCH
METHODOLOGY

28
Research Design

Research design is the framework of technique and methods used by the researcher to logically
collect, combine and arrange the different aspects of the research to carry efficient research of the
problem identified.

The study id conducted based on primary as well as secondary data

Data
Primary data is collected from clients through the questionary and secondary data is collected from
internet and articals.

29
CHAPTER 5
Data Analysis

30
87.7% of clients who were involved in survey are from age group of 20-30, 10.7% are from 30-40 age and remaining
are from 40-50.

50% of clients agree to the statement that GST is very good tax reform for india, 35.7% people are strongly agree and
10.7% stays neutral

31
34.6% clients agrees with GST has increased various legal formalities , 26.9% clients strongly disagree the
statement 23.1% clients neutral for this statement and 11.5% strongly agrees.

32.1% clients agrees with gst has increased the tax burden on a common man and 32.1% stays neutral on
same statement but 1 7.9% clients strongly agree with the statement and 10.7% strongly disagree that gst has
increased the tax burden on a common bank

32
50% clients agrees with India is really ready for GST implementation and 14.3% strongly agree that 28.6
percent people stay neutral on this question and remaining disagreed

28.6% clients is neutral On GST will increase the inflation in the country but the 25% client agrees to the
statement and 14.3% strongly agree The remaining 21.4% disagree with the statement and 10.7% strongly
disagree that GST will in the country

33
46.4% clients that GST is very difficult to understand but 10.7% clients strongly agree with GST is very
difficult to understand 17.9% claims stays neutral 10.7% strongly agree and 14.3% strongly disagree to the
statement

38.5% clients agrees with GST impacts the customer purchase power in effectively but two 3.1% clients
strongly disagree 19.2% people also disagree with the statement and one 5.4% clients stay neutral

34
32.1% clients agrees to GST will cause and increase in the cost of living,10.7% strongly agrees. 14.3%
clients disagree with statement and 17.9% strongly disagree. The 25% clients stays neutral

39.3% clients agrees to the GST system confused the customers,7.1% clients strongly agree. 21.4%
clients disagree to the statement and 10.7% strongly disagree. The 21.4% clients stays neutral.

35
37% clients thinks the wording and sentence in GST guidance are lengthy and not user friendly and 7.4%
clients strongly agrees. 18.5% clients disagree and 7.4% clients strongly disagree. 29.6% clients stays
neutral

50% clients agrees to the statement that GST encourage individuals to save apart from their income and
7.1% clients strongly agree. 14.3% clients disagree to the statement and 10.7% clients strongly dis
agree. 17.9% clients stays neutral.

36
 CHAPTER 6
LEARNINGS, CONCLUSION, SUGGESTION
AND LIMITATIONS

37
FINDINGS

1. Impact on Tax Revenues: The implementation of Goods and Services Tax (GST) in India has led to a
significant increase in tax revenues. The unified tax system has streamlined tax collection processes,
reducing tax evasion and enhancing compliance.

2. Simplified Tax Structure: GST has replaced multiple indirect taxes with a simplified tax structure,
promoting ease of doing business. This has positively influenced small and medium enterprises, as they no
longer have to navigate through a complex web of taxes.

3. Business Compliance and Technology Integration: GST has necessitated the adoption of technology for
tax compliance. The introduction of the GST Network (GSTN) has facilitated online filing of returns,
reducing paperwork and promoting transparency in transactions.

38
SUGGESTIONS:

Simplify Compliance Procedures:The government should continue to simplify and streamline GST
compliance procedures, especially for small businesses. User-friendly interfaces and regular updates on
compliance requirements can contribute to better adoption.

Enhance Technology Infrastructure:Invest in enhancing the technological infrastructure supporting GST.

This includes improvements to the GSTN, user-friendly interfaces, and providing training to businesses on
efficient usage of digital platforms for tax compliance.

Education and Outreach Programs:Conduct extensive education and outreach programs to create
awareness about GST, especially among small businesses. This should include training sessions, workshops,
and the dissemination of informative materials to help businesses understand and comply with GST
regulations.

Periodic Review and Amendments:Regularly review the GST framework and make necessary
amendments to address emerging challenges and ensure its relevance to the evolving business environment.
Solicit feedback from stakeholders and industry experts for continuous improvement.

Collaboration with States: Foster collaboration with state governments to address regional variations and
ensure uniform implementation of GST across the country. This will contribute to a harmonized and
cohesive tax structure.

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KEY LEARNINGS
 During my internship I have learnt about insight of GST

 Get to know about types of GST model

 Core knowledge about GST and role of GST

 Got to understand about organization environment of working

 I have handled some roles and responsoblity

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5.3 LIMITATIONS
1. Time duration was limited to understand the concept of GST

2. Internet issues , sometime due to server it had a major problem

3. Rechecking and verifying was a time consuming

4. Problems at main portal was a major problem.

41
CONCLUSION:

The project on "The Conceptual Study of GST " has successfully achieved its primary objectives,
providing valuable insights into the Goods and Services Tax (GST) system. The pursuit of knowledge and
understanding of GST taxation has helped me to understand a comprehensive exploration of its conceptual
underpinnings and operational dynamics. GST shall be the mother of all Indian tax refo44rms of this century
and it would subsume most of existing central and state level taxes on supply of goods and services.

The project helped me to understand the basics of various aspects of GST, its complexity and how
the filling procedure of various vouchers. Various GST rate and structure has equipped us with better
understanding of the tax regime, enabling a better grasp of its impact on different sectors. Moreover, the
project has helped me to understand my topic.

42
 CHAPTER 7
BIBILOGRAPHY

43
REFERANCES:

Books
-Goods And Service Tax by Dr. H.C. Mehrota & Prof.V.p. Agarwal

Website
https://gstcouncil.gov.in/
https://ijcrt.org/
https://www.incometax.gov.in/iec/foportal

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 APPENDIX
QUESTIONARY
Age group
20-30

30-40

40-50

GST is is a very good tax reforms for India

Strongly agr

Agree

Neutral

Disagree

Strongly dis

GST has increased the various legal formalities

Strongly dis

Disagree

Neutral

Agree

Strongly agr

GST has increased the tax burden on common man

Strongly dis

Disagree

Neutral

Agree

Strongly agr

India is really ready for GST implementation

Strongly agr

Agree

Neutral

Disagree

Strongly Dis

GST will increased the inflation in the country

Strongly dis

Disagree

Neutral

Agree

Strongly agr

GST is very difficult to understand

Strongly dis

45
 Disagree

Neutral

Agree

Strongly agr

GST is impacts the customer purchase in power in effectively

Strongly dis

Disagree

Neutral

Agree

Strongly agr

GST will cause and increase in the cost of living

Strongly dis

Disagree

Neutral

Agree

Strongly agr

The newly implemented GST confused the customers

Strongly dis

Disagree

Neutral

Agree

Strongly agr

The sentence and wording in the goods and service tax guide is lengthy and not user friendly
Strongly agr

Agree

Neutral

Disagree

Strongly Dis

Goods and service tax encourage individuals to save part of their income
Strongly dis

Disagree

Neutral

Agree

Strongly agr

46
 List of clients

Sr. No Name of client Address of client

1 Yogesh Patil Bavdhan, pune
2 Adveek enterprise Pune
3 Shree Samarth engineer Bhosari, pune
4 Mayour engineering works Chikhali ,pune
5 New Jayesh Trading co. Old Mumbai-pune
Highway,chinchwad
6 Shree balaji krushi udyog Tathwade pune
7 Megha Electrical Services Pimpri-chinchwad
8 Vijay construction nx Annasaheb nagar, chinchwad
9 Total Industrial Solution MIDC Bhosari
10 Deepak Ice factory Dehu road pimpri
11 Sensebite design solution Shridhar nagar chinchwad
12 Printech Digital Annasaheb nagar, chinchwad
13 Shitladeve associates Mahalange pune
14 Bhairavnath earthmovers Jambhe pimpri chinchwad
15 Sagar developers Karve nager pune
16 Anish polymer ind Annasaheb nagar, chinchwad
17 Adinath holidays Bopkhel pune
18 Sliverling interior Pimpri-chinchwad
19 Vedika Enterprise Pimpri-chinchwad
20 Dharma food Wagholi pune
21 Shantanu roadlines Talegaon Chakan
22 Imaginenl tech solution Wakad pune
23 Nitin polymers Pimpri
24 Nitin plastic Pimpri
25 Deo roodways Chinchwad
26 I. R. Control Talked, chakan
27 Rutuja tour & travels Annasaheb nagar, chinchwad
28 Unique packing Pune station

47