Critical Evaluation of GST’s Impact on the Functioning of Small Companies: Evaluation of People Psychology and Perception

Abstract

One emerging topic of study in India is the effect of indirect taxes like the Goods and Services Tax (GST) on SMEs. Relevant works, both domestic and international, up to the year 2020 were researched; this includes both publicly accessible and privately held materials. Appropriate resources were chosen after considerable deliberation. Themes that might vary widely but are based on a common thread of tracing back to the original material have been investigated, explored, and presented. One significant emerging fact is that GST would have different implications for politically sensitive industries and SMEs in different sectors in different states. This study is conducted with the aim of identifying peoples psychology towards GST and its impact on their businesses. The research study is conducted using secondary and primary data.  The data is analysed through frequency distribution method and it is explored that GST has impact on the small businesses.