BUSTING THE GST IMPACT MYTH: PAIRED STUDY ON PRE AND POST DURATION KEY FINANCIAL PARAMETERS FOR PHARMACEUTICAL SECTOR
DOI:
https://doi.org/10.55829/ijmpr.v3i1.209Keywords:
GST, Pharmaceutical Industry India, Financial AnalysisAbstract
Goods and Services Tax was introduced in Indian in the mid of the year 2017. It was a markedly major event for the economy as a whole and subsequently all business sectors and firms operating within them. Trying to understand the impact of this taxation overhaul on different industry is key to evaluating its outcomes and the road ahead. In this study a Pre and Post GST analysis of pharmaceutical industry is carried out. Four main financial metrics are taken as variables and paired test were run to check the alternative hypotheses. It was found by a huge margin that there is no significant effect of implementation of GST on the main business vitals of the selected top 5 companies. The trends in sales, operating profit, OPM and NPM seems to be clearly unaffected over those 10 years that included the pre and post duration.
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