Perception of Msmes towards Goods and Service Tax (GST) in India

The Goods and Services Tax is a common tax used by the majority of countries globally. After independence of India, Goods and Services Tax was the biggest reform in the country’s tax structure, came into effect from 1st, July, 2017. The main objective behind incorporating GST was elimination of double taxation, which cascades from the manufacturing level to the consumption level. Before introduction of Goods and Service Tax (GST), too much hope and misconception were prevailing in the mind of people and Government of India regarding GST like it will-reduce tax burden, be simpler than old tax system, bring uniformity in tax rate, prevent black money creation, increase revenue from tax, bring more transparency in business, help lower income group people etc. This paper is an attempt to analyse the perception of MSMEs’ owners and managers towards GST relating to their hopes and misconceptions related to GST after 5 years of completion of introduction of GST. The study is based on the primary data collected through questionnaire, using random sampling method, designed on five point likert scale