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Volume 8, Issue 2

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Volume 8, Issue 2

PERCEPTION AND IMPACT OF GOODS AND SERVICES TAX ON MICRO, SMALL AND MEDIUM ENTERPRISES - AN EMPIRICAL VIEWPOINT

Author(s)

Vibhuti Mittal, T. V. Raman

Affiliations
  1. Rukmini Devi Institute of Advanced Studies
  2. Amity Business School, Amity University, Noida
Abstract

It has been more than three years since the Goods and Services Tax (GST) was rolled out by the Government of India. The struggles of Micro, Small, and Medium Enterprises (MSMEs) are now exaggerated by the ongoing pandemic-lockdown crisis. However, the GST implementation once looked like a storm, has settled down for the MSMEs. Therefore, the present study is conducted to assess the perception, acceptance, and impact of GST on small firms and businesses. Variables like GST satisfaction and awareness are also taken into account. Through the structured questionnaire, a survey was carried out; the responses were gathered from MSME owners and were analyzed with the help of inferential and descriptive statistics. Hypotheses testing was performed through Chi-Square tests, ANOVA analysis. and Correlation analysis. The findings indicate that the perception regarding the GST laws among the MSMEs is associated with the category of the enterprise. Also, GST has been widely accepted by MSMEs. Lastly, the positive impact of GST has been noticed among the respondents. The study, therefore, contributes to the theory and practice of GST implementation in the critical sector of MSMEs.

Keywords

Goods and Services Tax; Micro, Small and Medium Enterprises; Indirect Taxation; MSME sector; Indian Taxation

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