Open AccessHow Uneducated Small Factory Owner Can Understand GST in Simple Way
Publication year - 2020
Publication title -
international journal for research in engineering application and management
Language(s) - English
Resource type - Journals
ISSN - 2454-9150
DOI - 10.35291/2454-9150.2020.0390
Subject(s) - factory (object oriented programming) , goods and services , business , simple (philosophy) , face (sociological concept) , set (abstract data type) , commerce , marketing , industrial organization , economics , economy , computer science , social science , philosophy , epistemology , sociology , programming language
GST is a tax that needs to pay on supply of products and offerings. Any person, who is presenting oroffering goods and services, is liable to fee GST. MSME‟s are a major driver in the Indian economy, contributing to almost 7% of the manufacturing GDP and 31% of the services GDP. With a consistent growth rate of about 10% they employ about 120 million people and contribute to around 46% of the overall exports from India. Under the GSTregime, this significant sector too is set to change. This paper based on the survey based on the effect of the implementation of GST on the SME’s in which the problems associated with the GST will be 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 youngster believe that with time all the problems were automatically solved and the fair face of GST will always profitable to everyone.