The Goods and Services Tax (GST) bill has finally passed in the Rajya Sabha and now it will be discussed in the state legislative assemblies. The bill will take place for discussion in the winter session. It is expected that the new bill will affect the SMEs in a positive impact. But SME owners also have to face some challenges due to the new bill.
The new bill will help startup owners to launch a small business. It will also reduce the burden of tax from the new business owners. Due to the new bill, SME owners can also expect improved logistic service with the fastest delivery system. GST will also make sure that there is no vagueness between the services and goods. As a result, it will eliminate the distinction.