( ISSN 2277 - 9809 (online) ISSN 2348 - 9359 (Print) ) New DOI : 10.32804/IRJMSH

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GOODS AND SERVICE TAX (GST) IMPACT ON SMALL SCALE INDUSTRIES

    2 Author(s):  DR. SANGAPPA .S. RAMPURE,MR. SURESH HANAMANT DODDAMANI

Vol -  10, Issue- 12 ,         Page(s) : 26 - 32  (2019 ) DOI : https://doi.org/10.32804/IRJMSH

Abstract

GST also known as the Goods and Services Tax is defined as the giant indirect tax structure, designed to support and enhance small scale industries of country. The Indian government introduced the new indirect tax system that is goods and services tax, constitution amendment 101 implemented on 1st July, 2017, after implementation of Goods and Service Tax impact on small scale industries. This paper consists, how to impact of GST to Small Scale Industries, objectives, benefits, challenges of goods and services tax on small scale industries for new futures of tax services value to provide best growth of national economic environment for smooth, speed of national income growth in the country. GST is a tax that needs to pay on supply of products and offerings. Any person, whois presenting or offering goods and services, is liable to fee gst. MSME‟s are a major driver inthe Indian economy, contributing to almost 7% of the manufacturing GDP and 31% of theservices GDP. with a consistent growth rate of about 10% they employ about 120millionpeople and contribute to around 46% of the overall exports from India. Under the gst regime,this significant sector too is set to change. This paper based on the survey based on the effectof the implementation of gst on the SME,s in which the problems associated with the gst willbe primaries and it was concluded that a lot of people were still unable to understand the working of gst and they have to make understand their customer also, most of the youngsterbelieve that with time all the problems were automatically solved and the fair face of gst willalways profitable to everyone.

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