Goods and Services Tax Impact on Small Businesses

GOODS AND SERVICES TAX: IMPACT ON SMALL BUSINESSES 01. Simplified Tax Structure GST consolidates various indirect taxes into a single tax, reducing the complexity of tax compliance for small businesses. 02. Input Tax Credit Businesses can claim input tax credits on the GST paid on purchases, lowering the cost of goods sold and enhancing cash flow. 03. Increased Compliance Requirements GST necessitates regular filing of returns and maintenance of detailed records, potentially increasing the administrative burden on small businesses. 04. Competitive Pricing With uniform tax rates, small businesses can offer competitive pricing, benefiting from a level playing field against larger enterprises. 05. Market Expansion GST removes state-wise tax barriers, enabling small businesses to expand their market reach across the country without additional tax burdens. If you want to know more, then visit www.taxhelpdesk.in

Goods and Services Tax Impact on Small Businesses

Goods and Services Tax Impact on Small Businesses

Presentation Transcript

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