सविस्तर माहितीसाठी इकॉनॉमिक टाइम्स मधील लेख वाचावा .

Introduction of the Goods and Services Tax (GST) after a decadelong deadlock is a welcome measure for Indian small and medium enterprises (SMEs). India’s approximately 51 million SMEs are vital for its economy, contributing 45% to the country’s GDP and employing 450 million people. GST heralds a simpler and seamless system that promises to subsume various existing indirect taxes, eliminating the longstanding issue of multiple indirect taxes.
GST will simplify setting up of SMEs and MSMEs as procedural fees and costs of compliance with the overall indirect taxation framework are set to shrink significantly. A unified tax system across states will ensure appropriate transfer of tax credits irrespective of the buyer and the seller’s physical locations.
Elimination of entry tax at state borders will lead to increased efficiency of inter-state logistics. Newer supply chain algorithms will emerge to map the new framework and minimise landed cost.
SMEs with annual turnover of less than Rs 50 lakh need to pay only a flat tax rate capped at 2.5% of turnover rather than on the entire value of supplied goods and services.
GST has also done away with the unclear distinction between goods and services. This will go a long way in reducing litigation and tax-evasion opportunities. GST requires every tax-paying entity to self-assess tax and file its returns on a monthly and an annual basis. Returns are to be filed electronically which will reduce errors and lapses.

via How GST will be a turning point for SMEs