Dun & Bradstreet India MSME survey: GST a game-changer; implementation a challenge
Speaking about the survey findings, Preeta Misra, Director, Learning & Economic Insights Group - India, Dun & Bradstreet, said “MSMEs are understandably excited and anxious on the eve of the rollout of GST. Though there are challenges in terms of readiness, we believe and our survey points out that this game-changing initiative will receive overwhelming support from MSMEs. GST will definitely lay the foundation for a double digit economic growth in the country.”
The Survey touched six critical areas for implementation of GST and probed MSMEs for their inputs on 37 questions.
When probed about the impact on business in India 72% MSMEs believed GST will have high impact on simplification of Indirect Tax structure, while 53% saw a low impact on reduction in compliance requirements.
When asked about the impact of GST on their business, 53% were of the opinion that it will increase the technology cost whereas the same number of respondents saw a potential to increase market share due to uniform tax structure.
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