A STUDY ON THE BUYING BEHAVIOR OF CONSUMER ON REGISTERED RETAILMART(DEPARTMENTAL STORE) “PRE AND POST GST”.

Abstract

The Goods and Services Tax(GST) is set to be a reality in India. It is the most important tax reform ever carried out in the country post-Independence. This upcoming tax system will pave way for a One-Nation One-tax regime and lead to a single unified market across 29 Indian states. According to experts, GST will be beneficial for the Indian economy as a whole and it is expected that the gross domestic product (GDP) of the country will increase by 1-2% over the years. The new tax system is not only seen as the main source of revenue for the government, but it is also expected to change the way how the consumer do their business and comply with the tax slabs. Even though the whole country, be it policy makers in the Parliament, trade and businesses or common man have been debating about the introduction of GST as a new system of taxation that will replace existing value added tax system in the country, there are some sections of the society that are still not aware of it.. Interestingly, the study covers the buying behavior of consumers and has found that a majority of the respondents are aware of the new tax reform; a large number of those traders are still unprepared to adopt the new structure. While the new tax structure is likely to be implemented from current financial year (2018), the consumers are yet to prepare themselves as to how they will comply with it.