This study aims to evaluate and expound upon the use of ChatGPT by Bangladeshi university students, with a particular emphasis on its goals, perceptions, benefits, and values of responsible and ethical use. The study used a quantitative approach, collecting information using both paper and online surveys. The researchers used Structural Equation Modelling (SEM) techniques with SmartPLS-4 software. The validity and reliability of the items were determined by rigorous testing of the instruments prior to analysis. SEM studies were then carried out to evaluate the suggested hypothesis. The findings showed that how students view ChatGPT is crucial in determining how they use it and what advantages it offers. Perceptions of ChatGPT, usage goals, benefits, and adherence to ethical and responsible use, according to data analysis, continued to be statistically significant. All hypotheses were supported by path analysis, with the exception of two hypotheses, which indicated that ChatGPT had a major impact on students' worries. As a limitation the research's drawback stems from its narrow focus, having been conducted with a limited number of participants despite the extensive size of the target population of university students in Bangladesh. Furthermore, the exclusion of certain universities was necessitated by logistical constraints and time limitations. Consequently, the findings are portrayed as a mere glimpse of a larger phenomenon akin to viewing a vast landscape through a small window. This study emphasizes how crucial it is for Bangladeshi students to use ChatGPT responsibly and ethically, especially in educational settings. Results showed that students use ChatGPT mostly to improve their conceptual grasp, which is consistent with earlier studies showing that AI can help with comprehension.