GST: Awareness and Overview in Haveri District

Santhosha. C

HOD, Department of Economics,

MASC College, Haunsbhavi, Karnataka, India-581109

Corresponding Author: santhoshc0309@gmail.com

 

DOI: 10.52984/ijomrc2109

 

Abstract:

The single tax system reduces transportation time. But, the services of external consultants are used for various tax matters. The country’s taxation system has improved with the help of GST and the government should take more efforts to training and educating public. Due to frequent change in GST law, companies need to change their accounting system. The technical cost and legal cost in GST are very high and not satisfied with available required services of GST. So, transition to GST is very difficult. Some common problems faced by business are increased overhead expense, supply chain structure, excessive compliances and filling, delays in refund, GST filling, decline in business, refund mechanism and rise in input cost. The satisfaction level of GST after implication has not reached the expectation of all Governments, consumers & business. The urgent requirements for improvement in the nation’s interest include rationalizing GST rates, removing excess processes, creating efficiencies and removing debatable aspects. The present study analyzes the awareness and overview of GST in the study area.

Key Words: Tax, GST, Revenue, Difficulties, Awareness, Overview, India.