GST Reform and Its Economic Impact on The IndianManufacturing Sector: An Empirical Cost-Benefit Assessment

This study evaluates the influence of the Goods and Services Tax (GST) on the manufacturing sector in India through a ‎detailed cost-benefit analysis using secondary data. GST, introduced as a major indirect tax reform, aimed to unify the ‎complex tax structure and boost economic efficiency. Quantitative techniques, such as Analysis of Variance (ANOVA) and ‎regression analysis, are used in the research to analyze how GST implementation has affected manufacturing performance ‎metrics like production expenditure, profitability, and growth in output. Secondary data gathered from industry publications, ‎government documents, and accounting statements of the chosen manufacturing companies over the pre- and post-GST eras ‎are analyzed. The ANOVA test will identify significant differences in cost and benefit factors prior to and after GST ‎implementation, while regression analysis uncovers the correspondence between GST implementation and manufacturing ‎sector performance. The findings reveal that GST has contributed to a decrease in cascading taxes, enhanced input cost ‎efficiency, and profitability, though the impact differs among subsectors. The research helps understand the contribution of ‎GST in defining the manufacturing sector, offering insight for policymakers and industry players seeking to maximize tax ‎reforms and ensure sustainable industrial growth‎.