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Published in:

Volume 4 Issue 8
August-2017
eISSN: 2349-5162

Unique Identifier

JETIR1708046

Page Number

274-280

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Title

IMAPCT OF GOODS AND SERVICE TAX ON MSMEs

ISSN

2349-5162

Cite This Article

"IMAPCT OF GOODS AND SERVICE TAX ON MSMEs", International Journal of Emerging Technologies and Innovative Research (www.jetir.org), ISSN:2349-5162, Vol.4, Issue 8, page no.274-280, August-2017, Available :http://www.jetir.org/papers/JETIR1708046.pdf

Abstract

Goods and Services Tax (GST) is expected to revolutionize the Indian tax system and is the biggest tax reform sinceIndependence. It will integrate and simplify the process of indirect taxation and will replace the complicated taxes such as State Value-Added Tax(VAT),Central Excise, Service Tax, Entry Tax or Octroi and other indirect taxes.. GST involves a marked shift from state-wise taxation to a one nation, one tax structure, affecting the various facts of business such as portability, cashflow, and sourcing, pricing, supply chain. The principle expectation from this system is to abolish all indirect taxes and only GST would be levied. Because the name indicates, the GST could be levied each on items and offerings. GST is a tax that needs to pay on supply of products & offerings. Any person, who is presenting or offering goods and services, is liable to fee GST. The paper highlights the impact of GST on MSME’s. MSMEs in India are an important contributor to the Indian economy and are drivers of growth. By its less capital intensive and high labour absorption nature, MSME sector has made significant contributions to the manufacturing output, employment generation, rural industrialization and exports of the country. The sector creates largest employment opportunities next only to agriculture. The sector is estimated to employ about 120 million people and contribute to around 46% of the overall exports from India.

Key Words

GST, ITC, MSMEs AND SGST.

Cite This Article

"IMAPCT OF GOODS AND SERVICE TAX ON MSMEs", International Journal of Emerging Technologies and Innovative Research (www.jetir.org | UGC and issn Approved), ISSN:2349-5162, Vol.4, Issue 8, page no. pp274-280, August-2017, Available at : http://www.jetir.org/papers/JETIR1708046.pdf

Publication Details

Published Paper ID: JETIR1708046
Registration ID: 180936
Published In: Volume 4 | Issue 8 | Year August-2017
DOI (Digital Object Identifier):
Page No: 274-280
ISSN Number: 2349-5162

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Cite This Article

"IMAPCT OF GOODS AND SERVICE TAX ON MSMEs", International Journal of Emerging Technologies and Innovative Research (www.jetir.org | UGC and issn Approved), ISSN:2349-5162, Vol.4, Issue 8, page no. pp274-280, August-2017, Available at : http://www.jetir.org/papers/JETIR1708046.pdf




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