Assessing the Performance of Goods and Services Tax with reference to Karnataka

A game-changer reform in taxation in India is GST, which is expected to reshape the Indian economy by reducing the tax burden on the stakeholders. Since the implementation of GST, the researchers have aimed to evaluate the performance of GST in terms of its impact on the revenue, economy and various stakeholders separately. The study aims to assess the impact of GST on compliance, the economy in general, revenue generation and settlement of IGST, focusing on the State of Karnataka. The impact of GST on economic parameters was assessed using secondary data. Descriptive statistics, Correlation, and Regression techniques were used. Hypotheses were tested using Excel and SPSS version 30.0. The study finds that GST has no impact on the selected parameters of inflation and GDP in a group predictor, whereas the individual predictor model indicates the presence of the influence of GST on GDP during the study period. The overall trend of settlement of IGST by Centre to the State of Karnataka representing a coefficient of variation of 41.14% reflects moderate to high inconsistency, suggesting timing of fund transfers between the Centre and State.