Open AccessImplications of GST on Indian Banking Sector
Publication year - 2019
Publication title -
international journal of recent technology and engineering
Language(s) - English
Resource type - Journals
ISSN - 2277-3878
DOI - 10.35940/ijrte.c1072.1183s319
Subject(s) - business , tertiary sector of the economy , goods and services , government (linguistics) , retail banking , economic sector , banking industry , financial system , commerce , economy , economics , marketing , linguistics , philosophy
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.