• Abstract

    Since its inception, the Goods and Services Tax (GST) has become a pivotal revenue source for both the central and state governments in India. The research aims to offer a comprehensive understanding of the evolving role of GST in shaping India's taxation landscape and influencing both central and state fiscal strategies. This study presented the analysis of the GST collections and also discusses variations in states' revenue performance before and after the implementation of GST. This could include examining how different states adapted to the new tax regime and whether there were disparities in revenue generation. The study utilizes the data of GST collections across states and analyses the variation in average growth of government revenue after the implementation of GST. The statistical techniques used for the analysis is Descriptives, Paired Sample T-tests and Regression. The findings of the study indicate a fluctuating trend in India's GST collections, with Maharashtra consistently leading but a notable decline in FY 2024. The average growth of GST collections shows an increasing trend until 2023, decreasing in 2024. Paired T-test results reveal a significant positive impact on government revenue growth post-GST implementation across all states. The regression analysis underscores a significant relationship between GST and GDP, emphasizing its broad economic influence. Implications include the need for nuanced policy responses to regional variations and consideration of GST dynamics in economic policymaking for sustained positive effects on government revenue growth and economic stability.

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Dandona, I., Tomar, P. K., Gupta, S. K., & Verma, S. K. (2024). GST dynamics in India: Exploring state revenue trends, GDP impact, and economic resilience. Multidisciplinary Reviews, (| Accepted Articles). Retrieved from https://malque.pub/ojs/index.php/mr/article/view/2889
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