Examining the Influence of GST on Small and Medium-Sized Businesses (SMBs) in India

one of MBA project, Effects of GST on India’s MSMEs.  India created the indirect Goods and Services Tax (GST) to simplify its tax structure. This study looks at   Impact of GST on Small and Medium Scale Business in India  small and medium-sized businesses. Compliance, business effectiveness, and financial effects are given top priority. This review of the research  uses both qualitative and quantitative methods to build and gather data. The main data comes from talks and polls with small and medium-sized business owners, tax experts, and government officials. Secondary data come from government papers, research magazines, and other reliable sources.

The review of the research showed that GST has had different effects on India’s SMEs. These results are good and bad. The Goods and Services Tax (GST) replaced a number of secondary taxes, making taxation easier.

The study shows that small and medium-sized businesses are still having trouble with GST adoption. During the early stages of the Goods and Services Tax (GST), technical and administrative problems made it hard for companies to change.

Small and medium-sized businesses are also worried about GST’s financial effects. The Goods and Services Tax (GST) is meant to make the tax system easier to understand, but the changeover period was marked by breaks and confusion that affected cash flows and how working capital was managed.

Keywords: Small and medium-sized enterprises are not exempt from the Goods and Services Tax (GST)., Impact India, Taxation, Changing the tax system ,Business environment Compliance ,Tax burden ,Tax evasion.

INTRODUCTION

On July 1, 2017, India put into place a complete indirect tax system called GST. It replaced many secondary taxes, like import fee, service tax, and VAT, with just one. The Goods and Services Tax (GST) was put in place to make taxation easier, stop taxes from piling up, and help create a single national market.

The effect of the GST on India’s tiny, small, and medium-sized businesses has been studied in depth. SMEs are important to the Indian economy because they create jobs, help the economy grow, and bring new ideas to the market. To judge how well this tax change is working and find possible problems, one must know how the GST affects these businesses.

This study looks at how the GST is affecting India’s MSMEs. It will look at legal costs, tax loads, operating issues, competition, and the business atmosphere. We want to learn more about the Goods and Services Tax (GST) and how it affects SMEs by studying SME owners and other parties.

This study will add to what has already been learned about the GST and its effects on businesses. It will give lawmakers, tax officials, and business groups useful information to help small and medium-sized businesses grow and stay in business in the goods and services tax system.

The next parts of this study will look at how the Goods and Services Tax (GST) affects small and medium-sized businesses in India. methodology, data analysis, and important conclusions.

OBJECTIVES

There may be more than one goal for the GST study project on small and medium-sized Indian businesses. These could be the goals of this study:

•  Find out how well small and medium-sized businesses understand GST. This study looks at how small and medium-sized businesses know about, comply with, and are affected by GST.
• This article looks at how the GST affects SME compliance and operating costs. The study could look at how the GST affects the costs and headaches of compliance for small and medium-sized businesses.
• It could look at how hard it is for these groups to file taxes, keep data up to date, and change to new legal rules.
• Look into how the GST affects small and medium-sized businesses’ bottom lines. The effects of the GST on the revenue, cash flow, and financial health of small and medium-sized businesses may be looked at.

LITERATURE REVIEW

This book study looks at how the GST affects India’s small and medium-sized businesses. The GST was implemented in July 2017 to reduce indirect taxes and support economic development. However, India’s vital SMBs have benefited and suffered from the GST.

one of MBA project ,This study examines how the GST impacts SMB compliance, competitiveness, operations, and growth. These results shed light on the problems that small and medium-sized businesses face and offer answers for companies and governments.

Introduction; Indian GST Implementation Overview; SMBs and India’s economy; Research Objectives and Methodology;
SMBs and the Goods and Services Tax: Increasing compliance burdens and problems – How technology and innovation make compliance easier Tax filing changes

The GST’s impacts on national trade and transportation, small and medium-sized businesses’ ability to compete, their market share, and competition;
Changes to supply chain management, the Goods and Services Tax, and inventory management Accountancy and bookkeeping: Opportunities and Challenges
Growth and development of small and medium-sized firms;

The literature study has important effects for small and medium-sized businesses and lawmakers. This review of the research shows how the Goods and Services Tax (GST) might affect Small and Medium Scale Business.

Based on historical research, it discusses SMB issues and offers solutions. This review of the research report may assist Indian decision-makers, professionals, and SMB owners understand how GST impacts SMBs and how to expand them.

CONCLUSION

The effects of India’s Goods and Services Tax (GST) on tiny, small, and medium-sized businesses have been studied in detail. After looking at all the facts and studies, we can say:

Compliance with taxes: The GST has made small and medium-sized businesses more tax-compliant. A simplified and streamlined combined tax system has made it easier for businesses to pay their taxes.
Organized Industry’s Advantage: The GST got rid of secondary taxes, which leveled the playing field.

Early Troubles At first, Impact of GST on Small and Medium Scale Business in India was difficult for small and medium-sized companies. When tax rules changed, people had to learn how to do things differently, update their financial tools, and meet new legal requirements. Taxes on businesses are getting higher. Even though the GST has lowered taxes generally, some areas have seen an increase.

Simplified Logistics and Supply Chain Management for Small and Medium-Sized Businesses (SMBs): GST has made logistics and supply chain management easier for SMBs.
More international competition By lowering costs, the review of the research ,Impact of GST on Small and Medium Scale Business in India has helped Indian businesses compete on foreign markets.

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