Impression of GST on SMEs in India
Authors: Mr Svapnil Patel
Country:
Abstract: GST is one of the burning issues today. GST also was known as the Goods and Services Tax is defined as the giant indirect tax structure designed to support and enhances the economic growth of a country. More than 150 countries have implemented GST so far. However, there is a huge hue and cry against its implementation. It would be interesting to understand why this proposed GST regime may hamper the growth and development of the country. One of the biggest tax revolutions in India is underway as businesses and taxpayers are gearing up for the change. These enterprises and individuals are assessing how the GST rollout will make a difference to them. One such segment is the Small and Medium Enterprises (SME) segment, which contributes significantly to India’s GDP and exports. The study has been made through review of some papers of almost similar nature. The main object of this paper is to find out the impact of GST on SMEs. After a short journey through some review journals/papers, it has revealed that GST has some negative impacts but ultimately in long run, it certainly has positive impacts.
Keywords: Goods and Service Tax, Indian Economy, SME
Paper Id: 82
Published On: 2018-05-11
Published In: Volume 6, Issue 3, May-June 2018
Cite This: Impression of GST on SMEs in India - Mr Svapnil Patel - IJIRMPS Volume 6, Issue 3, May-June 2018.