Awareness Level of GST at Abids Division of Telangana State
Keywords:
GST, easy doing of business, awareness level, place of supply, payment of tax and refund of taxAbstract
Goods and Services Tax (GST) synchronized the indirect tax structure in India with the objective of a simple indirect tax system, under the slogan of one nation one tax. The GST, hailed as one of the major tax changes in the nation, replaces a number of indirect taxes levied by the Center and States such as excise, VAT, and service tax. It is assessed on all domestically sold products and services. The GST is an open tax that also cuts back on other indirect taxes. The system made easy of complex tax into easy tax. After its enforcement not only collection of an indirect tax increase by a remarkable amount but it also assisted the betterment of the Easy Doing of Business rank of the nation. Prior to the introduction of the GST, a person had to deal with a number of taxes, including excise, VAT, and service tax, which complicated the procedure and increased the tax burden. However, once the GST was implemented, all indirect taxes were combined into a single tax, which simplified calculations and reduced paperwork. Due to lower compliance costs, the new indirect tax regime will be beneficial to start-ups and small and medium-sized businesses. The present article is going to focus on the awareness level of the GST with respect to small business enterprises of the Abids division of Telangana state. For the study of awareness level exercised distinct types of variables such as particulars of the invoice, tax rates applicable for supply of goods, determination of time, place, and value of supply and payment of tax and refund of it.
References
Chellammal T. (2018). GST-positive and negative impacts on small scale industries. [Online] Available at https://www.academia.edu/40401740/GST_positive_and_negative_impacts_on_smal l_scale_industries [Accessed on February 2023]
Harishekar L, Manoj G. GST and its impact on small and medium scale enterprises: a study of Peenya Industrial Area in Bangalore, Karnataka. Stud Bus Econ. 2021; 16 (1): 81–94.
Daga D. Impact of GST on small business enterprises. J Emerg Technol Innov Res. 2019; 6 (2): 432–434. https://www.jetir.org/papers/JETIRY006081.pdf
Gautami S. Effect of goods services tax on micro small medium enterprises in India. J Emerg Technol Innov Res. 2018; 5 (1): 473–476.
Verma A, Khandelwal P, Raj SJ. Impact of GST on the regulation of small business. J Bus Manag. 2018; 20 (7): 81–83.
Sharma MK, Saini S. Awareness and impact of GST among small business owners: a study of Mandsaur City in MP. Indian J Acc. 2019; 51 (1): 91–100.
Thangam Geeta SD, Mathiraj SP, Thivya Bharathi M. Impact of GST on MSMEs. Int J Recent Technol Eng. 2019; 8 (2S6): 688–694. https://doi.org/10.35940/ijrte.B1130.0782S619
Geeta SD, Mathiraj SP, Bharathi MT. Impact of GST on MSMEs. Manag Res. 2019; 8 (2): 91– 95.
Goods and Services Tax Network. (2023). Goods and Services Tax. [Online] Available at www.gst.gov.in [Accessed on February 2023]
Central Board of Indirect Taxes & Customs. (2023). Tax Information Portal. Available at https://taxinformation.cbic.gov.in/ [Accessed on February 2023]
