Effect of GST on the Financial Performance of Selected Manufacturing Companies in India: A DuPont Model Analysis.

In India, Goods and Services Tax (GST), introduced on July 1, 2017, has immensely affected the functioning and financial performance of different manufacturing companies. DuPont analysis model is used in this paper for scrutinizing the essential financial performance of such companies. It is an expedient system for decomposing the different drivers of Return on Equity (ROE) that help investors to focus on the key financial aspects, demonstrating the strengths and weaknesses of different companies. The study empirically analyzes the impact of GST on the financial performance of selected manufacturing companies in India, using five-step DuPont model, whereby the Net Income Margin has been brokendown to demonstrate how tax and interest affect ROE, considering financial performance before and after implementation of GST. Moreover, statistical tools like mean, standard deviation, paired correlation, matrix paired t-test and ANOVA test have been used to analyze the data and justify the objectives of the study. [ABSTRACT FROM AUTHOR]