Thesis

The current thesis is titled " A Study of the Impact of the Goods and Service Tax on the Rajasthan Hotel Industry." The thesis aims to examine the integration of GST into the Hotel business in the country. The researcher sought to determine the Hotel industry's response to the introduction of GST in their sector. The supervisor's recommendations and an increasing level of attention had a significant impact on the selection of this title. Furthermore, throughout the selection process, it was revealed that the Goods and Services Tax (GST) remains a significant source of uncertainty in the country. Not all individuals share the same perspective on GST, as their opinions on its advantages and disadvantages vary greatly. This heightened my curiosity to select the current topic. The thesis comprises a comprehensive Introduction, a well-structured Literature review with subheadings, a detailed chapter on research methodology that outlines all aspects of the undertaken research work, the statistical core of the thesis, Analysis and Interpretation: Impact of GST on the Hotel industry, a comprehensive chapter on findings, Conclusions and Suggestions, which are also integral to the study. The data was obtained from a sample of 200 participants. An elaborate survey was created to examine the raw data. In order to enhance readers' comprehension of the chapter, the statistical procedures were described and elucidated in a comprehensive manner. The thesis was structured into five distinct chapters: Introduction, Review of Literature, Research Methodology, Data Analysis, and Findings and Conclusions. In this study, the researcher aims to provide comprehensive knowledge about the Goods and Services Tax (GST), specifically in relation to the Hotel Industry. The objectives of the study include gaining a deeper understanding of the GST Act, examining the effects of GST on the hotel industry, assessing the level of awareness among hoteliers regarding the provisions of GST, identifying challenges faced by respondents in implementing GST effectively and comparing the previous indirect tax regime with the current GST system from the perspective of hoteliers. Four hypotheses were framed to accomplish the research requirements. Through the hypotheses, luxury and budgeted hotels were compared based on the opinions of respondents on select bases. Overall, it was revealed that there is a significant difference in the perception of hoteliers of luxury and budgeted hotels with regard to the impact of GST, awareness of provisions of GST, challenges in effective implementation of GST and previous indirect tax regimes & the present GST. The category of respondents holds a different ideology for all parameters understudy. Apart from hypotheses testing, other crucial findings include: 1. The respondents were not so clear about the effects of GST on society but were clear about the positive benefits that GST will bring in the long run. The long run is a period sufficiently long enough to bring life all possible changes a particular system has exerted on society. The respondents agree that GST will definitely bring benefits in the long run. 2. The respondents firmly agreed that GST is a complex task to understand. There is no doubt that GST is comparatively complex to understand and work on. Therefore, the respondents have to get help from professionals to get it easy and work on it. Generally, it takes time to adapt to technical changes, and in this case, the entire economy is facing the challenge of accepting the enforced GST on them. 3. The filing formalities are tedious; the pattern is complex and technical until understood. The respondents are facing difficulties in filing GST returns, which made them agree that it is tedious. However, it is firmly believed that GST will gradually camouflage itself in the present scenario so well that society will even forget the days without GST implementation. 4. With reference to supply types, the respondents were somewhat aware as the major aim is to file returns in the procedure; interstate CGST and SGST are not their concerns, and therefore, they are not so sure about it. 5. Based on the responses gathered, the mean rank of the top five challenges, as extracted with the help of the Friedman test, were as follows: first was relying on professionals (Accountant, CA, etc.), followed by GST is not well understood, followed by GST Calculation, next was GST slabs have been revised several times and last one was filling out returns is a time-consuming process. The application of Chi-Square confirmed that there was a significant difference in the perception of the respondents. 6. In comparison to the indirect tax system, GST has simplified the taxation regime. The respondents strongly agreed with it, which reveals that they are satisfied, but they are not. The respondents are living in a dilemma where they are not able to decide whether GST is good or bad for them, which made them agree that GST has reduced the number of laws as compared to the previous indirect tax system. 7. With the introduction of CGST and SGST, the powers of central and state Governments have become transparent and clear. There is no chance of any collision and confusion between the two on their powers. Thus, the respondents strongly agreed with the statement.