A Study on Impact of GST

on the Prices in Odisha

Samira Patra
Dept. of Commerce, Ravenshaw University, CUttack, Odisha

The road for unified indirect tax structure has been cleared
in India with the passage of Goods and Service Tax (GST) bill
and ratified by more than 50% of states. The uniform tax INTRODUCTION
rate by amalgamating the many central and state tax laws on The eff ort of implementing a simplifi ed,
indirect taxes, simplicity in administration and
enforcement and creation of a national market are the few standardized and benefited tax system i.e. Goods
advantages of GST. Under GST system, there will be dual and Service Tax (GST) in the form transformation
tax system i.e. Central GST (CGST) which is to be levied of Indirect Tax System will hopefully reach at its
by the Central Govt. and State GST (SGST) which will be
final stage from 01st April 2017 in India. The
collected by State Govt. on intra-state Goods or Service in
India. Integrated GST (IGST) on inter-state goods or service concept of indirect tax reform was initiated for the
(including Imports of Goods or Service) in India will be levied first time in year 1976 in India. But, the concept of
and collected by Centre. Export Goods and service will be GST was introduced by Union Finance
zero rated under GST. On the implementation of GST the
Minister P. Chidambaram in the parliament in the
state governments of India will lose revenue and the centre
will give compensation for 5 years as revenue loss incurred Union Budget speech 2006-07. It was the foundation
due to GST. As per GST concept high VAT rate states will of GST to implement a uniform rate of indirect tax
suffer high loss due to 18% of GST as neutral rate and instead of current multiple tax rates for goods and
threshold limit of goods and services increase to Rs. 20 lakhs.
services all over the India. Then in Union Budget
It is an attempt to study the effect of GST on the state of
Odisha. The present study is based on secondary data and 2008-09, the Union Finance Minister P.
data are collected from referred Journal, Dept. of Chidambaram announced the reduction of
Commercial Tax, Govt. of Odisha and from interment. The Central Sales Tax (CST) from 4% to 2% and also
collected data were tabulated and analyzed by well designed
expressed the desire of Govt. to introduce GST
methods. The present study concluded that in case of
Odisha, The prices branded suji, branded maida, branded atta, with effect from 1st April 2010. With 122nd
branded besan, vanaspati ghee, mustard oil, palmoline oil, Constitution Amendment Bill, the GST bill was
tea will rise by 0.95%, 0.98%, 0.96%, 0.97%, 0.99%, introduced in the Lok Sabha on 19th day of
0.97%, 0.96%,
0.79%, 5.73% and 5.71% respectively. The prices of December 2014 and was passed by the Loka Sabha
plastic on 06th May 2015. The same bill was introduced in
footwear will go up by 0.96% and leather foot wear by13.45%. the Rajya Sabha on 12th May 2015 and was passed by
The price of made up textile, paper and exercise books go up by
7.69%. The prices of readymade garments rise by 0.96%. the Rajya Sabha on 03rd August 2016 and the
The price of unbranded foods commodities will be decrease President of India signifies his green signal for the
by 3.85% and branded foods commodities will increase by implementation of the GST Bill. Since the
0.95% under GST as compare to current VAT. The Tax implementation of bill required 50% ratification of
GDP ratio willincreaseto 12% by 2020 due to implementation
of GST in India and this indirect tax reform in India will state Governments of India, Assam became the first
strengthen the Indian Economy with increased value of tax state for passing GST bill in its State Assembly and
revenue. the state Odisha passed the GST bill on 01st
Keywords: GST, VAT, CST, Entry Tax, Excisable Goods, September 2016 and became 16th state of India for
Non- Excisable, Scheduled Goods, and Non-scheduled Goods. passing GST bill. Now, the road of GST became clear
Amity Business Review 1
Vol. 19, No. 2, July - December,
2018
 A Study on Impact of
GST on the Prices in
Odisha

for implementation in India. Currently, around 150 supplies of goods or services in India and
countries have been adopted GST in the World. Integrated GST is chargeable on inter-state
supplies of goods or services including imports
Meaning of GST
in India which will be levied and collected by the
According to the 122nd Constitution Amendment Centre.
Bill (CAB), the term GST was defined by • Export of goods or services will be zero rated.
introducing a clause 12A in Article 366 of the
• Additional tax of 1% on inter-state taxable
Constitution of India, to mean “any tax on supply
supply of goods by the state of origin and non
of goods or services or both except taxes on supply
CENVATABLE.
of alcoholic liquor for human consumption”.
‘Services’ under the 122nd CAB means anything • All goods and services likely to be covered
other than goods. ‘State’ with reference to articles under GST except Alcohol for human
246A, 268, 269, 269A and article 279Anincludes a consumption ( state excise & VAT will be
Union territory with the Legislature. applicable), Electricity (Electricity duty), Real
Estate (Stamp Duty + Property Tax), Petroleum
Hence, all the supply of Goods or services or both Products ( Petr o leum Crude, Motor
would attract Centre level Goods and Services Tax Spirit(Petrol), high speed diesel, natural gas
(CGST which will be levied and collected by and aviation turbine fuel).
Centre) and State level Goods and Service Tax • Tobacco and tobacco products would be
(SGST which will collected by State Government). subject to GST with central excise duty.
Integrated GST (IGST) on inter-state goods or
• GST will replace taxes like Central excise duty,
service (including Imports of Goods or Service) in
Duties of excise, Additional duties of excise &
India will be levied and collected by Centre. Export
customs, Special Additional Duty of Customs
Goods and service will be zero rated under GST.
(SAD), Service tax, Central Surcharges and
The various indirect taxes which are currently
Cesses related to supply of goods & services
levied and collected by Centre would be subsumed
etc which are currently levied by Centre.
under CGST and various indirect taxes which
presently collected by state government would be • State taxes like State VAT, CST, Luxury Tax,
subsumed under SGST. Entry Tax, Taxes on advertisement, purchase
tax, taxes on lotteries, betting & gambling and
Features of GST State Surcharges & Cesses (Currently levied on
• It is a destination based consumption tax and supply of Goods or Services) etc. would be
itis applies to all stages of the value chain. subsumed under GST.

• It is appliestaxable supplies of goods or • Input tax credit (ITC) available on same type of
services (as against manufacture of goods, sale taxes. But, no Input tax credit on account of
or provisions of services) made for a SGST shall be utilized towards payment of
consideration except exempted goods or CGST and vice-versa. The ITC of IGST would
services (common list for CGST and SGST), be permitted to be utilized for payment of
goods or services which outside the purview of IGST, CGST and SGST in that order.
GST and transactions below threshold limits. • GST will eliminate the cascading (tax on tax)
• Dual GST have two concurrent components i.e. impact of taxes on production and distribution
CGST levied and collected by centre and SGST cost of goods and services which will leads to
levied and collected by the States. reduction of cost of goods and services.

• CGST and SGST are chargeable on intra-state • GST is ‘One Point Single Tax’ and no other type
 of tax to be paid / payable on the same goods found that GST at the state level will be a major
or services. improvement in its tax base for future revenue
• GST will bring uniformity of tax rates across generation.
the states.
Rao, K. R and Chakrabarti, P. (2013) in there
GST and Commodities of Odisha working paper “Revenue Implications of GST
And Estimation of Revenue Neutral Rate: A State
In the State of Odisha, most of the items like edible
Wise Analysis” analyzed the impact of GST on the
oil, vanaspati ghee, readymade garments, made up
revenue of India. They concluded that GST rate in
textiles, tea, footwear etc are procured from outside
a three rate structure would be higher than the
the state. But certain commodities like green
general rate of VAT at 12.5 percent and would be
gram(moong) and black gram are purchased from
around 12.5 percent in case two rate structure.
inside the s tate of Odisha ex c lu si v el y
However, there is a scope of trimming the number
fromfarmers/local vendors. Rice procurement is
of commodities in lower rate category, which can
made from inside the state of Odisha. It is
give a higher base for the standard rate and
ascertained that goods procured from outside the
correspondingly lower revenue neutral rate.
state and from inside the state from the traders
passes to consumers through two stages i.e. from Mohanty, A. (2014) in his article “Evolving
wholesaler to retailer and from retailer to Paradigms in Odisha State Finance: An Empirical
consumer. Goods manufactured in the state passes Analysis” studied the deteriorating trend in state
to the consumers through three stages i.e. finances of Odisha in pre 2002-03 and compares
from manufacturer to wholesaler, wholesaler to improvement in post 2002-03 and examines to
retailer and retailer to consumer. what extent the recent reform measures taken by
stares are helpful in reducing the deficits. The study
REVIEW OF LITERATURE also makes an attempt to do a critical in depth
reviews of the Fiscal Responsibility and Budget
There are few number of studies carried out by Management Act and make an attempt at
various researchers in this area. Some selected examining effectiveness and suitability of FRBM
research works are portrayed as follows: Act through a quantitative analysis. He concluded
on after the implementation of FRBM Act, it has
Vasanthagopal, R (2011) in his paper “GST in
been empirically proved that the State is managing
India: A Big Leap in the Indirect Taxation System”
its finance prudently as key fiscal deficit indicators
studied that until the time GST is implemented, it
have shown a declining trend.
would be worthwhile to assess its positive impacts
on the various development areas viz. agriculture, Garg, G. (2014) in his research paper “Basic
manufacturing industry, MSME, housing, poverty Concepts and Features of Good and Service Tax In
reduction, employment, price level, EXIM trade, India” analyzed impact of GST (Goods and
GDP, government revenue, etc. He concluded that Services Tax) will be on Indian Indirect Tax
the switchover to a ‘flawless’ GST would be a big Scenario and found that all sectors of economy
leap in the indirect taxation system and also give a whether the industry, business including Govt.
new impetus to India’s economic change. departments and service sector shall have to bear
impact of GST.
Deol, R. S. (2012) in his “Goods and Service tax in
India: Effect on state government revenue” studied Selvakumar, X.A., Looter, M. S. and et el. (2015) in
impact of GST on revenue generation of India. He their paper “Basic Features, Opportunities and
Benefits of GST Implementation in India” studied

Amity Business Review 99

Vol. 19, No. 2, July - December,
2018
the basic features, opportunities and benefits of
GST

10 Amity Business Review

Vol. 19, No. 2, July - December, 2018
implementation in India and they concluded that union budget speech, working papers etc.
GST is leviable on all supply of goods and The collected data were classified according
provision of services as well combination thereof. the scope of analysis and tabulated for the purpose
The GST is a further significant improvement in of interpretation and presentation of data. The
the next logical step towards a comprehensive purpose of analysis of secondary data, various
indirect tax reform in India. statistical tools like percentage, mean, deviations
Sehrawat, M. and Dhanda, U. (2015) in their paper etc were used.
“GST in India: A Key Tax Reform” studied the GST
concept, explains its features along with its
timeline of implementation in India. They
DATA ANALYSIS AND INTERPRETATION
concluded that due to dissilient environment of OF RESULT
Indian economy, it is demand of time to implement Since entry tax in Odisha is not going to be
GST. Consumption and productions of goods and subsumed in GST, the commodities have been
services is undoubtedly increasing and because of divided into four categories namely: (i) Excisable
multiplicity of taxes in current tax regime and scheduled goods.(ii) Non-excisable and
administration complexities and compliance scheduled goods (iii) excisable and non-scheduled
cost is also accelerating. Thus, a simplify user goods and (iv) non- excisableand non-scheduled
-friendly and transparent tax system is required goods. Entry tax is levied on scheduled goods only.
which can be fulfilled by implementation of GST. Rates of commodities and profit margin at different
points of sale have been ascertained from local
RESEARCH GAP / RELEVANCE OF THE market. Central excise duty wherever applicable is
taken into consideration. After making item wise
STUDY cost analysis, comparative price analysis of selected
Till date, a no. of good research paper has been commodities under VAT and GST regime is
conducted and also published on the impact of presented.
GST. But, there are no remarkable research has For the analysis of price data of the commodities in
been conducted on impact of GST on the prices of Odisha, various commodities may be classified in
commodities in Odisha. So, this is an attempt to to two categories. These are goods procured from
study the impact of GST on the prices of the outside state and goods procured from within
commodities of Odisha. the state.

OBJECTIVE OF THE STUDY Inference: The table no 1 shows thatprices of

branded suji, brandedmaida, brandedatt a,
The objective of the present study is to analyze the brandedbesan, vanaspati ghee, mustard oil,
impact of Goods and Services Tax (GST) on the palmoline oil, tea will rise by 0.95%, 0.98%,
prices of commodities in Odisha. 0.96%,0.97%, 0.99%, 0.97%, 0.96%, 0.79%, 5.73%
and
RESEARCH METHODOLOGY 5.71% respectively. The prices of plastic footwear
will go up by 0.96% and leather foot wear
The present study is based on secondary data. The
by13.45%. The price of made up textile, paper and
secondary data were collected through well
exercise books go up by 7.69%. The prices of
designed plan formulated for this study purposes.
readymade garments rise by 0.96%.
So, the data were collected from internet, e-
journals, There will be decrease in price of leather footwear,
readymade garments and made up textiles as
these are excisable goods. Presently, excise
duty and CST
are collectable on these goods. Since excise duty sale of those commodities. Hence, it is found the
and CST is not VATable, the tax paid on these price of these commodities will decrease.
goods gets embedded in the cost price which
causes cascading. Under GST regime CST and Plastic footwear and paper are also excisable
excise duty shall be subsumed and input tax credit goods. There will be marginal price rise by 0.96% and
will be available on 7.69% respectively in case of plastic footwear and
paper.

Table No. 1: Comparative analysis of consumer prices of selected commodities in VAT & GST regime
(goods procured from outside the state)
(Price in Rs.)
Sl. No Items Retail Price In Retail Price In % Of Increase/
VAT Regime GST Regime Decrease
In Price
1 Sujee ( PER 100 KG) Branded 1680 1696 0.95
Unbranded 1680 1615 -3.87
2 Maida( PER 100 KG) Branded 1638 1654 0.98
Unbranded 1638 1575 -3.85
3 Atta( PER 100 KG) Branded 1769 1786 0.96
Unbranded 1769 1701 -3.84
4 Besan( PER 100 KG) Branded 3608 3643 0.97
Unbranded 3608 3469 -3.85
5 Vanaspati Ghee (per 15 kg) 811 819 0.99
6 Mustard oil (per 100Kg) 6401 6463 0.97
7 Palmolin oil (per 100 KG) 5231 5281 0.96
8 Tea (per 1KG) 252 254 0.79
9 Arhar Dal (per 100 KG) 5937 5702 -3.96
10 Moong Dal (per 100 KG) 6149 5911 -3.87
11 Foot wear (Plastic) (18 pairs) 4476 4519 0.96
12 Foot wear (Leather) ( 60 pairs) 40402 45840 13.45
13 Readymade Garments(20 pairs) 15426 15574 0.96
14 Made up textiles (10 pieces) 7459 8033 7.69
15 Paper (1 Metric Ton) 194307 209254 7.69
16 Exercise Book(50 Dozen) 18233 19636 7.69

(Source:Tax Research Unit, Commercial Tax Department, Odisha)

 Table No. - 2: Analysis prices of commodities on the basis of types of
products
Sl. No Items Types of Retail Price In Retail Price In % Of Increase/
Goods VAT Regime GST Regime Decrease
In Price
1 Sujee ( PER 100 KG) Foods Branded 1680 1696 0.95
Unbranded 1680 1615 -3.87
2 Maida( PER 100 KG) Foods Branded 1638 1654 0.98
Unbranded 1638 1575 -3.85
3 Atta( PER 100 KG) Foods Branded 1769 1786 0.96
Unbranded 1769 1701 -3.84
4 Besan( PER 100 KG) Foods Branded 3608 3643 0.97
Unbranded 3608 3469 -3.85
5 Vanaspati Ghee (per 15 kg) Foods 811 819 0.99
6 Mustard oil (per 100Kg) Foods 6401 6463 0.97
7 Palmolin oil (per 100 KG) Foods 5231 5281 0.96
8 Tea (per 1KG) Foods 252 254 0.79
9 Arhar Dal (per 100 KG) Foods 5937 5702 -3.96
10 Moong Dal (per 100 KG) Foods 6149 5911 -3.87
11 Foot wear (Plastic) (18 pairs) Fashion 4476 4519 0.96
12 Foot wear (Leather) ( 60 pairs) Fashion 40402 45840 13.45
13 Readymade Garments(20 pairs) Clothes 15426 15574 0.96
14 Made up textiles (10 pieces) Clothes 7459 8033 7.69
15 Paper (1 Metric Ton) Books and Paper 194307 209254 7.69
16 Exercise Book(50 Dozen) Books and Paper 18233 19636 7.69

(Source: Author’s Calculation)

The table No 2 shows that price of unbranded Inference: The table No 3 Shows the Comparative
foods commodities will be decrease by 3.85% and analysis of consumer prices of selected
branded foods commodities will increase by 0.95% commodities in VAT & GST regime towards goods
under GST as compare to current VAT. Cost of procured from inside the state. The table No-2
plastic foot wear will increase by 0.96% where as concluded that the retail price in VAT regime of
cost of leather foot wear will increase by 13.45%. Black Gram (per ton) is Rs. 5132/- and retail price
The cost of readymade garments and made up in GST regime of Black Gram (per ton) is Rs. 5526/-.
textiles will increase by 0.69% and 7.69% So, the price of Black Gram under GST will
respectively under GST as compare to current increase by 7.68%. The retail price in VAT regime
VAT. The cost of Books and Paper items will of Mung (per ton) is Rs. 4152/- and retail price in
increase by 7.69%. Thus, the unbranded foods GST regime of Black Gram (per ton) is Rs. 4471/-.
commodities will be cheap and all other So, the price of Mung under GST will increase by
commodities will costly under GST regime.
7.68%. Similarly, the retail price in
VAT regime of Rice (per ton) is Rs. 2114/- and retail government to invest in various development
price in GST regime of Rice (per ton) is Rs. 2274/-. initiatives. India had a comparatively low tax-to-
So, the price of Rice under GST will increase by GDP ratio due to low direct tax base, parallel
7.68%. economy and unorganised sectors that adversely
impacted tax collections. The indirect tax reform
Impact of GST on Disposable Income or
undertaken by the government through GST is
GDP of India expected to improve the tax-to-GDP ratio and one
The ratio of taxes collected by the government and can expect the government to exceed its estimated
the GDP of the nation is called Tax to gross tax-to-GDP ratio. Considering the slack in private
domestic product (GDP) ratio. Tax contributes investment, an increased public expenditure in
major parts of revenue of the nation and the Tax to sectors like infrastructure and affordable housing
GDP ratio is a key barometer that indicates the
ability of the

Table No.-3:Comparative analysis of consumer prices of selected commodities in

VAT & GST regime (goods procured from inside the state)
(price in Rs.)
Sl. No Items Retail price in Retail price in % of Increase /
VAT regime GST regime Decrease In Price
1 Black Gram ( Per 100 kg) 5132 5526 7.68
2 Mung ( Per 100 kg) 4152 4471 7.68
3 Rice ( per 100 kg) 2114 2274 7.57

(Source:Tax Research Unit, Commercial Tax Department, Odisha)

Table No 4- Tax GDP Ratios

(Amount in 100 Crore)
Year Tax Revenue GDP Tax to GDP Ratio
2019-20 (Estimated) - - 12.00%
2018-19 (Estimated) - - 11.90%
2017-18 19,116 162,423 11.6%
2016-17 17,032 152,510 11.3%
2015-16 14,556 136,753 11%
2014-15 12,449 124,337 10%
2013-14 11,387 112,366 10%
2012-13 10,362 99,466 10%
2011-10 8,892 87,360 10%
2010-11 7,931 72,489 11%
2009-10 6,245 61,089 10%
2008-09 6,053 53,036 11%
2007-08 5,931 45,821 13%
2006-07 4,735 39533 12%
(Source: www.taxmann.com/budget/t21/indias-tax-to-gdp-ratio-needs-to-be-improved.aspx)
would have a multiplier effect on other sectors and from the taxes for the government is very likely to
help raise demand for core sectors such as steel and increase with an extended tax net, and the fiscal
cement. Further, considering the impending deficit is expected to remain under the checks.
elections in 2019, one can expect the government to Moreover, exports would grow, while FDI (Foreign
increase allocation to various social welfare Direct Investment) would also increase. The
schemes, which would increase the disposable industry leaders believe that the country would
income in the hands of the public and hopefully climb several ladders in the ease of doing business
provide an impetus to private consumption with the implementation of the most important tax
leading to overall economic growth. reform ever in the history of the country.
Since adoption of GST in India, the amount of tax
collections have also increased and With GST, the SUMMARY, FINDINGS AND CONCLUSION
number of taxpayers registering with the GST
GST will apply taxable supplies of goods or
Network (GSTN) is increasing sharply. The tax to
services (as against manufacture of goods, sale or
GDP ratio will remain 11.3% in Financial Year
provisions of services) made for a consideration
2016- 17, 11.6% in Financial Year 2017-18, 11.9% in
except exempted goods or services (common list
2018-19 and it is estimated that it will be 12% in
for CGST and SGST), goods or services which
2019-20. (In Table No. 4)
outside the purview of GST and transactions below
threshold limits. In case of Odisha price of
Impact of GST on Indian Economy
some goods/commodities like unbranded
GST the biggest indirect tax reform in India foods commodities i.e. suji, maida, atta, besan, and
founded on the notion of “one nation, one market, price of ahar dal and Moong Dalwill be decrease
one tax” is finally here. The moment that the and price of all other goods/commodities will
Indian government was waiting for a decade has increase.
finally arrived. The single biggest indirect tax
regime has kicked into force, dismantling all the Key Findings
inter-state barriers with respect to trade. The GST • GST will be a simplified indirect tax as it will
rollout, with a single stroke, has converted India eliminate multiple taxes presently levied by the
into a unified market of 1.3 billion citizens. Govt.
Fundamentally, the
• Input tax credit (ITC) available on same type of
$2.4-trillion economy is attempting to transform
taxes. But, no Input tax credit on account of
itself by doing away with the internal tariff barriers
SGST shall be utilized towards payment of
and subsuming central, state and local taxes into a
CGST and vice-versa. The ITC of IGST would
unified GST.
be permitted to be utilized for payment of
The rollout has renewed the hope of India’s fiscal IGST, CGST and SGST in that order.
reform program regaining momentum and • GST will eliminate the cascading (tax on tax)
widening the economy. Then again, there are fears impact of taxes on production and distribution
of disruption, embedded in what’s perceived as a cost of goods and services which will leads to
rushed transition which may not assist the interests reduction of cost of goods and services. GST
of the country. will bring uniformity of tax rates across the
states in India.
The impact of GST on macroeconomic indicators is
likely to be very positive in the medium-term. • The prices of some unbranded primary
Inflation would be reduced as the cascading (tax on commodities like suji, maida, atta, besan, and
tax) effect of taxes would be eliminated. The revenue price of arhar dal and moong dal will decrease
and price of all other goods will increase.
CONCLUSIONS management (IJSRM), Volume2, Issue2, Pp. 542-549, ISSN (e):
2321-3418, Website: www.ijsrm.in.

The prices branded suji, branded maida, branded Selvakumar, X.A., Looter, M. S. And et el. (2015), “Basic
Features, Opportunities and Benefits of GST Implementation in
atta, branded besan, vanaspati ghee, mustard oil,
India”, International Journal of Advanced Scientific Research &
palmoline oil, tea will rise by 0.95%, 0.98%, Development (IJASRD) ISSN: 2394 – 8906,Pp: 45 – 49,
0.96%,0.97%, 0.99%, 0.97%, 0.96%, 0.79%, 5.73% www.ijasrd.org,
and Sehrawat, M. And Dhanda, U. (2015), “GST in India: A Key Tax
5.71% respectively. The prices of plastic footwear Reform”, International Journal of Research
will go up by 0.96% and leather foot wear – GRANTHAALAYAH, ISSN- 2350-0530(O) ISSN- 2394-3629(P)

by13.45%. The price of made up textile, paper and G. Raghuram, K.S. Deepa (2015), “Goods and Services Tax: The
Introduction Process”, Working Paper No -2015-03-01, Indian
exercise books go up by 7.69%. The prices of
Institute of Management, Ahmedabad, India.
readymade garments rise by 0.96%.The price of
“Goods and Services Tax (GST): An Overview”, New Delhi, 01st
unbranded foods commodities will be decrease by
July, 2016 retrieved on 07/09/2016.
3.85% and branded foods commodities will
“Study of the impact of proposed GST structure on the prices of
increase by 0.95% under GST as compare to current Goods of Mass Consumption”, Tax Research Unit, Commercial
VAT. Tax Department, Odisha.
www.taxmann.com/budget/t21/indias-tax-to-gdp-ratio-needs-
The Tax-GDP ratio will remain unchanged for the to-be-improved.aspxwww.google.co.in
initial stage of GST implementation but in later
stage Tax-GST ratio will increased to 12% by 2020
in India
and also this indirect tax reform in India will
strengthen to Indian Economy.

REFERENCE BRIEF PROFILE OF THE AUTHOR

Vasanthagopal, R (2011), “GST in India: A Big Leap in the
Mr Samir Patra, a Ravenshaw Product and currently
Indirect Taxation System” International Journal of Trade,
Economics and Finance, Vol. 2, No. 2, April 2011. Pp. 144-146.
working as PhD Scholar in the Department of commerce,
Ravenshaw Univesity. He has qualified CBSE-UGC NET
Deol, R. S. (2012), “Goods and Service tax in India: Effect on
for Assistant Professor in Commerce in the year
state government revenue” Retrieved from internet on
December, 2014.He is author of several research papers
07/09/2016.
related to handloom industry in Odisha, CSR, Micro
Rao, K. R and Chakrabarti, P. (2013), “Revenue Implications of Finance, Human Resources Management, sustainability
GST And Estimation of Revenue Neutral Rate: A State Wise
reporting, e- marketing, and women entrepreneurship
Analysis”, Working Paper, National Institute of Public Finance
etc. He was awarded best paper award announced by
and Policy, New Delhi.
Orissa Commerce Association (OCA) and Orissa journal
Mohanty, A. (2014), “Evolving Paradigms in Odisha State
of Commerce at 36th Annual Conference of OCA at
Finance: An Empirical Analysis”, Odisha Review, June 2014, pp.
Belpahad College, Belpahad, Jharsuguda, Odisha in the
161-174
year 2016. He is also working as guest faculty in
Garg, G. (2014), “Basic Concepts and Features of Good and Commerce at JKBK Govt. College, Cuttack, Odisha
Service Tax In India” International Journal of scientific
research and