To Study the Level of Awareness about the Compliance of GST

Abstract

The Goods and Services Tax (GST) was a major reform to India's indirect tax structure when it was implemented. This abstract delves at the many ways in which the Goods and Services Tax (GST) has affected India's small and medium-sized businesses. The goal of the Goods and Services levy (GST) was to create a more conducive climate for businesses by consolidating many indirect taxes into a single, simplified levy. The introduction of GST has had both positive and negative repercussions for SMEs. On the positive side, GST has streamlined the tax compliance process, reduced the cascading effect of taxes, and created a unified market that enhances interstate trade efficiency. SMEs benefit from the ease of doing business, input tax credit mechanism, and simplified logistics. Moreover, the digitization of tax processes under GST has brought about greater transparency and reduced corruption.