Awareness and Understanding of GST among Indian Consumers: An Empirical Study

Ms. Lovleen Gupta; Dr. Akash Agarwal

doi:https://doi.org/10.17492/vision.v4i02.11777

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Awareness and Understanding of GST among Indian Consumers: An Empirical Study

Lovleen Gupta, Akash Agarwal

https://doi.org/10.17492/vision.v4i02.11777

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Published Online: November 30, 2017

Author Details ( * ) denotes Corresponding author

1. * Lovleen Gupta, Assistant Professor, Department of Commerce, Hindu College, University of Delhi, Delhi, Delhi, India (lovleen15_gupta@yahoo.co.in)

2. Akash Agarwal, Assistant Professor, Department of Applied Science, Rajkiye Engineering College, Kannauj, Uttar Pradesh, India (dr.akaskagl@gmail.com)

The Goods and Services Tax (GST), India's biggest tax reform since Independence emerged as a game changer and seems to be the masterstroke for economic alignment. The 122^nd Constitutional amendment made it possible to introduce new tax regime to fix the gaps in the existing system which is estimated to make an incremental growth of 2% in GDP. In order to investigate the success and effectiveness of the GST, the present research work explores the level of understanding, awareness and acceptance of GST among Indian consumer. Furthermore, the article also investigates the GST effect on spending behaviour of public at large. The primary data was collected from 312 respondents using random sampling from different parts of the country but only 200 responses were found fit for the study. The result shows that consumers, by and large, are acquainted with the GST structure. Moreover, study also reveals that no significant correlation exists between GST tax structure and spending behaviour of respondents.

Keywords

Goods and Services Tax (GST); Reliability analysis; Consumer; India

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