Abbul the role of SMEs come in picture let

Abbul
Hasan Khan 

(Associates
professor)

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Monad University

 

                                                                                                                                             
[email protected]

 

 

                                                
                                                                                             

ABSTRACT:  India is very unique by birth it
is known for good hospitality and ecofriendly   business environment for small and big player
equally by RBI survey almost nine million SMEs are existed in India. what you
see and hear both are not correct some time such situation emerge than the role
of SMEs come in picture let me clear it by giving estimation by researcher that
Number of SMEs are behind one big company. That is why contribution of this
sector is directly 7% and indirectly 30% in economy .But since implementation
of GST raises several questions on very existence of the sector because 70% are
not in threshold limit of GST so these are not in range of getting input tax credit.
Under the previous tax regime, if your business had operations across many
states, you would have to register for sale tax/ VAT with each state’s sales
tax department in order to do business activities .The reason that every state
had different tax laws complicated the entire process, and business owners had
to pay many procedural charges for VAT registration and uncontrolled chain of
cascading started. Under GST, the registration is centralized and the rules are
uniform for all the states across the country.

Key
words: GST, GSTIN, GST No. SME Input tax credit,

Introduction: