JJEM: Special Edition 4 (May 2025)
JJEM: Special Edition 4 (May 2025)
2025-05-31
Impact of GST Amendments on Banking Sector Operations: A Comprehensive Analysis
Mr. Vinay Kumar K S, Ms. Supriya S
The Goods and Services Tax (GST) has undergone significant amendments since its introduction in India in 2017. These changes have not only affected the general economy but have also significantly influenced the banking sector's operations. This paper aims to analyze the impact of GST amendments on the banking sector, focusing on areas such as compliance, taxation, and service delivery. Through qualitative and quantitative analyses, the paper examines how these amendments have reshaped banking operations, the challenges faced by financial institutions, and the potential benefits. The paper concludes by providing recommendations for banks to improve operational efficiency and mitigate the challenges posed by the GST amendments.
Goods and Services Tax, Amendments, Banking Sector, Economy