Impact of GST on the Indian Economy with special reference to the Micro, Small, and Medium Enterprises Sector

Abstract: Micro, small, and medium enterprises play an important role in India's Economic Development. About 30% of the total contribution to GDP, participation in 50% exports, and more than 11 crore employment generation underlines the importance of the MSME sector. After the implementation of Goods and Services Tax (GST), various positive and negative results have been shown in the MSME sector. The MSME sector has been new to the MSME sector due to facilitating the tax system, unity in the national market, and input tax credit facilities. However, MSMEs are still facing the challenges of digital complexities, e-currency, GST return costs, liquidity problems, and tax complications. The purpose of this study is to understand the impact of GST on MSMM and find the direction of future development