A Study on Growth of Goods and Services Tax (GST) in India - An Golden Opportunity for Growth of Indian Corporate Sectors

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.