Impact of GST on Financial Management of Retail Pharmacy Business
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https://doi.org/10.31039/plic.2025.13.333Keywords:
Tax Regime, GST, Financial Management, Retail Pharmacy BusinessAbstract
Goods and Services Tax (GST) is levied on all goods and services in India, ranging from 0% to 28% at the point of final consumption is structured based on the internationally recognized Harmonized System of Nomenclature (HSN) code. The introduction of GST has significant impact on the retail sector, particularly the retail pharmacy business. While most retailers have adopted new technologies and operational strategies in the post-GST era, sound financial management important for sustained success. Financial management has emerged as a key determinant of their long-term success; it includes demand forecasting, strategic pricing, and efficient cash flow management. The present study aims to examine the impact of GST on the financial management practices of retail pharmacy businesses after its implementation. Primary data were collected from 169 pharmacy retailers through a structured questionnaire, utilizing a simple random sampling method. Analytical tools such as the Paired Sample t-test and Structural Equation Modeling (SEM) were employed to evaluate the substantial changes in financial management practices before and after GST implementation.
References
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www.kotak.com/en/stories-in-focus/loans/business-loan/impact-of-gst-on-wholesalers-and-retailers.html
www.shopify.com/in/retail/retail-financial-management
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