Goods and Services Tax was introduced by the Government of India on 1 July 2017. The reason for implementing it was to simplify the existing tax system, which consists of various taxes that have created a complex tax system. Researchers sought to understand the impact of his GST on small retailers and their efforts to familiarise themselves with this new tax regime. The study is based on a survey that used questionnaires to collect data on her from 50 small retailers in Nagpur. The results of the analysis show that while the GST is considered a fair tax system, the process needs to be made clearer and simpler.
GST is a type of indirect tax that brought all the other indirect taxes under one umbrella, this GST reduced the tax on the tax system, The Indian retail sector is one of the best growing industries in the world, and thus the GST streamlined everything to one tax, and thus it became easier for the retailer to understand the tax system and to pay it in one system or one shot.
The burden of the tax is reduced by the retail sector and the tax will be from the producer’s point to the customer's point and it helps in streamlining all taxes into one category.
In India the retail sector is said to be one of the main pillars for the growth of the economy and thus GST is used in various ranges of industries, the implementation of the GST inter-state taxation and documentation process is depreciated thus it amounts to the free flow of the goods and services across the nation without any such difficulties and also it reduced the complications.
The GST falls under the supply of goods rather than the sales and the manufacturing, the supply without any consideration or amount will result in tax on the free samples or the offers or the gifts by the retailers also liable for the tax.
Earlier in order to tackle any taxation disparity people used to hire Lawyers in Delhi, Lawyers in Kolkata, Lawyers in Bangalore etc. to remove such disparity but nowadays The GST had made it a lot more simple for retailers and others to deal with these taxation processes.
The impact of GST on the retail sector had a positive impact on taxation the retail business helped in boosting the economy and also in overall development, the implementation of GST simplified the system of indirect taxes in the nation, and the retail sector renewed its strategies, their system of supply chains, costing and others.
Tax law is said to be one of the most difficult laws to practise therefore people of Delhi often get misguided to choose lawyers in Delhi same as the people of Kolkata or the people of Bangalore fail to choose experts tax lawyers in Kolkata or Bangalore etc or any other part of India, the expert's tax lawyer must be master of interpretation, the court craft should be the best and also must possess the high skill of documentation for tax related issues.
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