The prime aim of introducing GST is increasing the taxpayer base and bring SMEs into its scope as well as make them adhere to the tax.

1. HOW GST INTERACTING
WITH MEDIUM AND
SMALL BUSINESS IN INDIA
For years, enterprises (small and medium) have been looked upon as one of the
key forces behind the growth of Indian economy. Do you know India contributing
about 50% of the industrial output while 41% of India's total export? Small medium
enterprises (SMEs) have brought forth as the prima sector for creating employment
plus has provided balanced development across sectors. The impact of Goods and
Services Tax (GST) on small and medium enterprises.
Before we conclude the impact of GST on SME's, we have to comprehend how GST
would widen the base of taxpayers.In the past, it wasn't essential for a

2. manufacturer or company with a turnover of INR 1.5 crore or less to adhere to the
excise duty rules. But, any manufacturer who has a turnover of INR 20 lakh or INR
10 lakhs will have to adhere to GST and its procedures as all the State and Central
level taxes got merged into the realm of GST.
Registration, payments, refunds, and returns which are the whole compliance
procedures under GST, now will be executed through websites only and this has
lessened the annoyance for the SMEs because they do not need to worry about
interacting with section officers for executing these compliances. Some of the
positive impacts that GST will bring on the SMEs are mentioned below:
 Registering online will make the process is easy for SMEs particularly with
Tally ERP 9 because it will make sure a smooth flow of work. In addition to
this, the online registration will make sure that the certificate of registration
is available on time.
 There will be transparency that will lessen the compliance cost because of
electronic compliance. Besides, the refund procedure will be electronic that
will further fast-track the process and boost liquidity for the small and
medium enterprises.
 All returns would be needed to be filed electronically in Tally GST and the
tax liability adjustment plus input tax credit will happen in a mechanical
manner based on these returns
The prime aim of introducing GST is increasing the taxpayer base and bring SMEs
into its scope as well as make them adhere to the tax. But in the long run, GST will
make small and medium enterprises more competitive with a level playing field
between them and the large companies. GST will help the SMEs to compete with
competition as well.
Click here for Hiring CA for resolve this : sgujar.com