Impact of GST on the Automobile Industry in India: A Comparative Analysis Pre and Post Implementation

Abstract

A family may afford a more luxurious lifestyle when they pool their wages. People tend to live their lives in their comfort zones due to the two major C's: copying and comparing. Isolation due to a preference for public transportation has been on the rise in the previous 20 years. One of the fastest-growing parts of India's economy is the automotive industry. Both inside and outside of Indian Territory, the demand pattern for vehicles is significantly impacted by the tax structural adjustments and policies roughly 7.1% of India's GDP comes from this sector, while it accounts for roughly 48-49% of the country's manufacturing GDP. India is the world's fourth-largest producer of commercial cars, and it ranks third overall internationally in this industry. Since the Goods and Services Tax (GST) was implemented in 2017, the automotive sector has experienced a great deal of volatility, and it is constantly adapting to new technological developments and other changes as part of its routine operations. Since this is the case, the purpose of this research is to analyse the impact of the Goods and Services Tax (GST) on sales in the automotive sector, specifically looking at Hyundai Motor India Ltd. The study has utilized secondary data to compare the company's sales and exports before and after the GST, with a major focus on descriptive statistics.