Implications of GST on Indian Banking Sector
Pukhraj Paul1, Vikram Sandhu2, Heena Atwal3
1Pukhraj Paul, Assistant Professor, University Business School, Guru Nanak Dev University, Amritsar (Punjab), India.
2Dr. Vikram Sandhu, Assistant Professor, University Business School, Guru Nanak Dev University, Amritsar (Punjab), India.
3Dr. Heena Atwal, Assistant Professor, Department of Basic and Applied Sciences, Punjabi University, Patiala (Punjab), India.
Manuscript received on 25 November 2019 | Revised Manuscript received on 06 December 2019 | Manuscript Published on 16 December 2019 | PP: 316-317 | Volume-8 Issue-3S3 November 2019 | Retrieval Number: C10721183S319/2019©BEIESP | DOI: 10.35940/ijrte.C1072.1183S319
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© The Authors. Blue Eyes Intelligence Engineering and Sciences Publication (BEIESP). This is an open access article under the CC-BY-NC-ND license (http://creativecommons.org/licenses/by-nc-nd/4.0/)
Abstract: The most vital sector that contributes 7.7 per cent to GDP in India is the banking sector. The important scenario was the introduction of Goods and Service Tax and its implication in Indian Banking Sector. GST was implemented by Government in India on 1st July, 2017 which changed the operational efficiency of banking sector than before. This present study aims to study the significant impact of GST on banking sector and the challenges imposed by the implementation of GST. This study also attempts to study the effect of GST on customer.
Keywords: Taxation, Goods and Service Tax (GST), Indirect Tax, Banking Sector, Government Policy.
Scope of the Article: e-governance, e-Commerce