Open AccessImpediments and Solutions in the Process of GST Registration of Restaurants in Hyderabad
Author(s) -
Bharti Sharma,
Rakhi Arora
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.d7217.118419
Subject(s) - business , government (linguistics) , process (computing) , stakeholder , goods and services , revenue , government revenue , state (computer science) , outcome (game theory) , documentation , industrial organization , public economics , economics , economy , finance , computer science , philosophy , linguistics , mathematical economics , algorithm , programming language , operating system , management
The strength of a nation’s economy depends upon the system of taxation which If taken correct approaches, can keeps revenue consistent, stimulates industrial activity and manages growth in our economy. The Indian government has made an ambitious shift by introducing Goods and Services Tax (GST) tax policies. The strategy is to present modern, transparent and technology-driven indirect tax system. The new tax system aimed to sharpen the competitive edge of a 230 crores ($2.3 Trillian) Indian economy driven by internal trade restrictions and a raft of central, state and local taxes. After two years of its introduction, the new system is yet to settle down and being considered puzzling on many dimensions. Even after proper beginning, the GST registration system is facing barriers relevant to documentation, technology, stakeholder willingness, etc. This paper aimed to rank the potential impediments to GST registration of restaurants in Hyderabad. The outcome of this paper will help new registration seeks to understand new taxes system in general and will intimate the ground reality to authorities responsible for its successful implementation. This paper presents a case study of the issues faced by the restaurants in Hyderabad during GST registration in these two years of implementation. Solutions to these issues have been proposed in this paper, which may be helpful for the new entrepreneurs to register on GST portal.