Impact of GST on Small and Medium Business & Enterprise (SME) of North Gujarat Region

Abstract

Small and medium-sized enterprises (SMEs) have emerged in the country significantly and have been influencing the Indian economy remarkably. Besides, there is an implementation of a new tax model in India since July 1st of 2017. So, it is necessary to understand the impacts of a new tax model on small and medium-sized companies and enterprises to assist businesses and the economy of the country as well as make valuable changes in institutions. This paper aims to analyze some of these significant impacts of a new tax system in the country, GST on SMEs through primary and secondary research using qualitative as well as quantitative data. A group of 180 entrepreneurs, business owners, and executives of selected businesses were surveyed for the collection of data. Furthermore, the collected data has been analyzed using tools, such as statistics, pie charts, and tables.
“Micro, small, and medium-sized enterprises and businesses have been significantly affected by the implementation of Goods and Services Taxes (GST) in India. It is essential to find the impacts of GST on SMEs in North Gujarat and impose recommendations in the study for the betterment of business and economy of the country.”