India is very unique in its birth, it is known for its good hospitality and eco-friendly business environment for small and major players, according to an RBI survey, nearly nine million SMEs exist in India. What you see and hear is not correct. Sometimes such a situation arises when the role of SMEs comes into play. Let me clarify things by giving the researcher's estimate that the number of SMEs are behind a large company. This is why the contribution of this sector is directly 7% and indirectly 30% in the economy. Say no to plagiarism. Get a tailor-made essay on “Why Violent Video Games Should Not Be Banned”? Get Original Essay But as the implementation of GST raises several questions about the very existence of the sector, as 70% are not within the GST threshold, hence these are not within reach of getting a credit of input tax. Under the old tax system, if your business operated in multiple states, you were required to register for sales tax/VAT with each state's sales tax department in order to conduct business. The reason each state had different tax laws complicated the entire system. process, and business owners had to pay many procedural fees for VAT registration and an uncontrolled chain of cascades began. Under GST, registration is centralized and rules are uniform for all states in the country. Indian society is a mixture of everything, perhaps culture, religion and caste, hence business. Here small businesses are mainly run by family and big businesses have the same conditions, that's why a shoemaker's son is a shoemaker and a businessman's son is a businessman according to Analysis of the economic era, only 10 families carry out more than 70% of the business and only 2% of the population shares 58% of the country's assets. Despite a complex and unequal distribution of wealth and business, India is known as the land of startups and SMEs. But all small businesses operate in a very simple way, in modern language, relaying bricks and mortar. It is therefore a question of uniformly applying the GST to all businesses, small or large. Most small businessmen don't sleep at night. In my study, I spoke to around 100 small businessmen from Crossing Republic GZB and Greater Noida West and two senior executives from a company dealing with invoicing software that they meet almost 100 people every day. And I got some very useful information which is an integral part of my study. India's biggest tax reform, based on the notion of 'One Nation, One Market, One Tax', is finally here. The move that the Indian government has been waiting for for a decade has finally arrived. The largest indirect tax regime came into force, dismantling all interstate barriers in trade. The introduction of GST, in one fell swoop, transformed India into a unified market of 1.3 billion citizens. The idea behind the implementation of GST across the country, in 29 states and 7 Union Territories, is that it would provide a win-win situation for everyone. Manufacturers and traders would benefit from reduced tax filing, transparent rules and easy booking; consumers would pay less for goods and services and the government would generate more revenue. This article therefore attempts to shed light on various aspects of GST and know its likely impact on the economy.