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Laxmichand Golwala Coleege of Commerce & Economics LAXMICHAND GOLWALA COLEEGE OF COMMERCE & ECONOMICS M.G Road Ghatkopar-East, Mumbai-400077 (NAAC Accredited ‘B’ Grade with CGPA 2.81) Internal Quality Assurance Cell Organizes ONE DAY STUDENT’S RESEARCH NATIONAL CONCLAVE On 9 th December, 2017 (Saturday) ‘‘RECENT REFORMS IN TAXATION, REAL ESTATE AND BANKING SECTORS IN INDIA’’ Special Issue of an International SCHOLARLY RESEARCH JOURNAL FOR INTERDISCIPLINARY STUDIES IMPACT FACTOR SJIF 2016-6.177 UGC APPROVED SR. NO. 49366, ISSN-2278-8808 Dr. A. D. Vanjari Conference Chairperson Prin. Dr. Swati Desai Conference Secretary Copyright © Authors, December 2017 ISSN: 2278-8808 IMPACT FACTOR SJIF 2016- 6.177 Special Issue on Issues of ‘‘Recent Reforms in Taxation, Real Estate and Banking Sectors in India’’ Jan-Feb, 2018, Volume - 5, Issue – 44 Disclaimer: We do not warrant the accuracy or completeness of the Information, text, graphics, links or other items contained within these articles. We accept no liability for any loss, damage or inconvenience caused as a result of reliance on such content. Only the author is the authority for the subjective content and may be contacted. Any specific advice or reply to query on any content is the personal opinion of the author and is not necessarily subscribed to by anyone else. Warning: No part of this book shall be reproduced, reprinted, or translated for any purpose whatever without prior written permission of the Editor. There will be no responsibility of the publisher if there is any printing mistake. Legal aspect is in Mumbai jurisdiction only in Favor of Editor in Chief for this Special Issue on ‘‘Recent Reforms in Taxation, Real Estate and Banking Sectors in India’’ Published & Printed By SCHOLARLY RESEARCH JOURNALS TCG’S Sai Datta Niwas, D - Wing, F.No-104, Nr Telco Colony & Blue Spring Society, Jambhulwadi Road, Datta Nagar, Ambegaon (Kh), Pune-46 Website- www.srjis.com, Email- [email protected] Editorial Board One Day Students’ Research National Conclave 9th Dec 2017 Dr. A. D. Vanjari Editor in Chief Dr. Swati Desai Dr. Veera Talukdar Mr. Vijay Mahida Members of the Editorial Board Ms. Remeya George Mr. Santosh Tiwari Mr. Satishkumar Kawade Mr. Sudhir Kochale IT Incharge IT Incharge PRESIDENT MESSAGE: Dear Friends, Greetings! On behalf of RAV’s Laxmichand Golwala College of Commerce and Economics, we feel delighted to present a One Day Students’ Research National Conclave– India’s most unique assembly of Youths dealing with contemporary issues of the year! You might be having a lot of questions in your mind about why should there be such type of conclave? The answer is that Students’ Research National Conclave is a platform, where leaders of tomorrow discuss and further develop their ideas into reality. It aims to foster leadership qualities amongst students and young professionals Author: opening a cross-cultural dialogue on issues of national and international relevance. The conclave has been designed in a way so as to provide a good blend of knowledge related to recent burning topics of the era, which are changing the economic status of our country in the global arena. Eminent speakers - who are stalwarts in their areas, had agreed to accept to enrich our young minds on different themes of our conclave. The conclave shall be a amalgamation for all the students to develop their professional abilities and contacts. In the challenging phase of economy when major laws are undergoing reforms, it is inevitable for the students to be updated and accomplish their knowledge. The conclave aims at bringing about a change and development (if not drastic one) in the minds of the youths Author: encouraging them to participate and express themselves. Friends, let this conclave be the turning point in the life of the youngsters who are the future citizens of our country. Their personality should never remain the same but should evolve for the betterment of the society. They should be able to communicate with hundreds of young people from across the globe, which were not only desirous but also determined to bring about a change in the society and make this world a better place to live. We wish you all the best. D.M. Mehta, President, RAV Index Sr.No. Title & Author (S) Name Pg. No. 1 STUDY ON THE IMPACT OF GST ON INDIAN ECONOMY 1-2 Amritlal R Yadav 2 STUDY ON WHITE COLLAR CRIME, CORPORATE CRIME AND 3-7 ORGANIZED CRIME Ankush Singh 3 COMPETITION ACT, 2002---- JUDICIAL ANALYSIS 8-12 Chanchal Choudhay 4 REFORMS OF BANKING SECTOR---DEMONITAZATION 13-18 Sachin Mishra 5 JOB SATISFACTION OF BANK EMPLOYEES WITH SPECIAL 19-32 REFERENCE TO SELECTED NATIONALIZED BANKS IN MUMBAI AND THANE DISTRICT Rege K, Kulkarni, Madhwani P, Gandhi A & Jawadwala Z 6 A STUDY ON IMPLICATION OF DEMONETIZATION ON 33-37 FINANCE SECTOR-‘A NEW ECONOMIC CULTURE Karan Michwal 7 PROJECT MANAGEMENT OFFICE IN FACADES INDUSTRY 38-39 Krishna Kumar 8 WHERE SHOULD YOU INVEST? PPF, NSC, KVP, SCSS OR 40-47 SUKANYA SAMRIDDHI: A STUDY (MUMBAI REGION) Mrs. Latha G. Badri 9 PHYSICO-CHEMICAL STATUS OF WATER IN PUS DAM OF 48-52 PUSADTALUKA, DISTRICT YAVATMAL, (M.S) INDIA Mohammad Muzammil Mohammad Moosa 10 A STUDY OF REFORMS IN INDIAN REAL ESTATE SECTOR: 53-60 POLICY AND IMPACTS Mr. Abhishek Bhosale, Ms. Shonam Gaikwad & Mr. Ashish Jage 11 REFORMS IN TAXATION: GST & ITS IMPACT 61-62 Nikita Vasant Jagdale & Sakshi Nitin Mujumdar Sheth 12 ROLE OF RETAILERS IN INDIA IN RESPECT OF FILLING OF 63-64 RETURNS UNDER GST LAW Nishikant Shirpurkar 13 CONSOLIDATION OF BANKS - A WAY FORWARD 65-69 Paarshva Nahar 14 REFORMS IN BANKING SECTORS DUE TO DIGITALIZATION 70-71 Rohini Sakharam Yevale 15 A STUDY ON IMPACT OF DEMONITISATION ON THE BANK 72-77 CUSTOMERS Samrin Khan 16 COMPARATIVE ANALYSIS OF VAT WITH GST 78-82 Shaikh Sadique 17 FOREIGN DIRECT INVESTMENT IN INDIA – AN ANALYTICAL 83-85 STUDY Mr. Muzaffar Ali Shaikh Mohd Miraz 18 REFORMS IN BANKING SECTORS: DEMONETIZATION, 86-88 DIGITALIZATION & BANK ASSURANCE Shardul Dilip Shah 19 REFORMS IN BANKING SECTOR:DEMONETIZATION BY 89-96 Shreya Kuckian & Soham Chodenkar 20 A STUDY OF BANKING SECTOR REFORMS IN INDIA WITH 97-102 SPECIAL REFERENCE TO DIGITALIZATION AND TECHNOLOGY ENHANCEMENT Suraj Shetty, Vama Doshi, Priyanka Patil 21 GROWTH AND ADOPTION OF DIGITAL PAYMENTS IN INDIA 103-107 POST DEMONETIZATION Mohammed Talha Murghay 22 DIGITAL INDIA – CUSTOMER PERSPECTIVE 108-110 Tarandeep Kaur 23 BANKING SECTOR THE BACKBONE TO THE FINANCIAL 111-112 SYSTEM AND PLAY AN IMPORTANT ROLE IN ECONOMIC DEVELOPMENT OF A NATION Mr. Tom Joseph 24 REFORMS IN REAL ESTATE 113-119 Vatsal.U.Parekh 25 UNDERSTANDING ADOPTION OF CASHLESS PAYMENT – 120-123 POST DEMONETISATION Zafrin Mohammed Juned Kasmani 26 IMPACT OF GST ON PHARMACEUTICAL COMPANIES IN 124-128 INDIA Mrs. Zakira R. Matwankar 27 REFORMS IN BANKING SECTOR –DEMONITISATION 129-135 Miss. Sapna Yadav 28 RECENT REFORMS IN TAXATION REAL ESTATE& BANKING 136-138 SECTOR IN INDIA Suryabhushan M.Mishra & Dr.Nishit Dave 29 DEVELOPING PROCESS OF SMART CITIES IN NAVI MUMBAI 139-142 & KALYAN REGION AND ITS IMPACT ON STANDARD OF LIVING AND EMPLOYMENT PATTERN Prof. Mahida Vijay K 30 WEB MINING IN E-COMMERCE WEBSITES 143-146 Prof. Shikha Singh 31 ROLE OF TRAINING IN DEVELOPING EMPLOYEES 147-148 RETENTION IN BANKING SECTOR Prof. Mahida Vijay K 32 SCHOOL-BASED BANK SAVINGS PROGRAMS:BRINGING 149-150 FINANCIAL EDUCATION TO STUDENTS Nisha Mohandas 33 A STUDY ON IMPACT OF DEMONETIZATION ON 151-155 E-COMMERCE INDUSTRY Gauri Dalvi Recent reforms in Taxation, Real estate & Banking sectors in India Impact Factor SJIF 2016-6.177 STUDY ON THE IMPACT OF GST ON INDIAN ECONOMY Amritlal R Yadav Abstract The GST Bill was introduced in Loksabha in 2009 by erstwhile UPA government but they failed to get it passed. The NDA government introduced a „slightly modified‟ version of the GST Bill in the Parliament and both the Houses passed it. Through GST, the government aims to create a single comprehensive tax structure that will subsume all the other smaller indirect taxes on consumption like service tax, etc in the words of UnionFinance Minister Arun Jaitley „it will lead to the financial integration of India‟. The main theme of this paper is to highlight the impact of Goods and Service Tax on the Indian economy. Keywords: Goods and Service Tax, Indian Economy. Introduction: Goods and Service Tax (GST) is a new indirect tax scheme which is a consumption based tax. It will replace all the indirect taxes. It is biggest tax reform that will bring India in competition with other countries in respect to the indirect taxation platform. That the new tax scheme will boost the growth and development of the Indian economy. Amidst economic crisis across the globe, India has posed a beacon of hope with ambitious growth targets, supported by a bunch of strategic undertakings such as the Make in India and Digital India campaigns. The Goods and Services Tax (GST) is another such undertaking that is expected to provide the much needed stimulant for economic growth in India by transforming the existing base of indirect taxation towards the free flow of goods and services. GST is also expected to eliminate the cascading effect of taxes. India is projected to play an important role in the world economy in the years to come. The expectation of GST being introduced is high not only within the country, but also within neighbouring countries and developed economies of the world. LITERATURE REVIEW: Akansha Khurana and Aastha Sharma(2016) studied,―Goods and services tax in India- A Positive reformfor indirect test system‖ conclude from GST willprovide relief to producer and consumer by providingwide and comprehensive coverage of input tax creditset –off, service tax set-off and subsuming the several taxes.
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