INTRODUCTION

 GST was launched all over India with effect from 1st July
2017.
 GST is a value added tax on manufacture , sale & consumption
of good & services.
 Imposed in India on supply of goods & services
 GST offers comprehensive & continuous chain of tax credits
 Availability of credit of GST on purchase and set off this credit
on supply
 No cascading of Taxes
 A Small business would be the one whose annual turnover is
upto 5 cr
IMPACT OF GST ON
SMALL BUSINESS
(PROS)

1. Easier to launch new start-

up
2. Reduced logistics costs
3. Reduced tax burden
4. One Market (along with
one Nation , one tax)
5. Enhanced compliance &
less Human Intervention
IMPACT OF GST ON SMALL BUSINESS (CONS)

1. Lack of Technological
Knowledge
2. Fine on failure of Filing
the Returns
3. Increased Accounted
Cost
4. Increased Paper Work
5. Need to Register for
GST under all State
 GST – mixed reviews in past 2 years
 Pros for MANUFACTURERS

 Cons for TRADERS

 Technology a game changer for GST

 Lack of access to formal credit

remain as alive as ever
 Small business lose out to big
business