Disadvantages of GST for SME’s

Accounting software, small business software, GST software india

With all the GST information circulating around, we at Vyapar  were wondering how this would affect the daily running of the SME ( small & medium entrepreneur ) Sector. Especially since this sector already follows established norms and ways of running their businesses.

Is the GST going to solve all their taxation issues ? Is the ‘ One nation, One tax’ actually helping the regular business man?

Well everything has a positive and a negative, Vyapar previously covered the positive, and now,  we bring into focus the disadvantages of the GST sector for the small scale business.

Here is a list of :

Disadvantages of GST bill to the SME sector :

These are the few disadvantages of GST bill implementation for SME’s,

  • They will need to start using more digital systems which have tax assistance. This might involve a one time setup cost.
  • They will need more man-power training for self sufficiency,
  • They will need to accept the new tax regime and
  • They will need to change the way book keeping is done  to match the new system.
  • The protection that SMEs enjoy currently will be gone and they will come under the standard GST umbrella.

But, all these are the changes which a business anyway undergoes when it grows and expands. So instead of expressing grievance over the additional costs of adopting the new system, a wise business man should envision the long term prosperity and join the GST mainstream right away.

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Happy Vyaparing!!!

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