Name: Geetika & Neeraj Goyal
Country: India

Year: 2025
Volume: Volume-12, Issue-2 (July-December)
Page Number: 59-69
DOI: https://doi.org/10.5281/zenodo.17054676

ABSTRACT
The Goods and Services Tax (GST), introduced in India in July 2017, marked a significant
reform in the country’s indirect taxation system by integrating multiple state and central
levies into a unified framework. While the reform was aimed at simplifying taxation,
enhancing compliance, and promoting efficiency, its implications have varied across
industries. The hosiery sector of Punjab, particularly concentrated in Ludhiana, holds a
prominent position in India’s textile economy due to its contribution to employment, exports,
and regional industrial growth. This study examines the effects of GST reforms on the
hosiery industry in Punjab with a focus on cost structure, compliance challenges,
competitiveness, and future opportunities.GST has encouraged greater formalization,
modernization, and interstate trade expansion, creating long-term prospects for growth.The
study concludes that GST has functioned as both a challenge and an opportunity for Punjab’s
hosiery sector. For sustainable development, policy interventions are required in the form of
simplified procedures for MSMEs, faster refund processes, and sector-specific incentives.
The hosiery sector in Punjab can leverage GST as a platform for long-term growth and
integration into global value chains.
Keywords: GST, Hosiery Industry, Punjab, Textile Sector, Compliance, Competitiveness,
MSMEs, Exports