GST: A GAME-CHANGER FOR INDIAN BUSINESSES.

Goods and Services Tax (GST) was introduced in India in 2017, and it has been a game-changer for businesses. This article examines the impact of GST on the Indian business landscape, noting that it has increased efficiency, enhanced competitiveness, and eased the doing of business in the country. The article talks about the need for a unified taxation system that led to the introduction of GST. The outline discusses the challenges that businesses face concerning compliance under GST, including registration, understanding threshold limits, payment of taxes, filing of returns, and GST audits. Positive and negative impacts of GST on businesses are identified, and the initial challenges faced during the migration to a new taxation regime, technological infrastructure requirements, and short-term liquidity issues are analyzed. Moreover, the article discusses the overall impact of GST on small-sized enterprises, increased compliance costs, the complexity of return filings, and the impact on the informal sector. This article concludes with an examination of the complexities of the GST system and the need for continuous improvements to ease compliance and facilitate the growth of businesses in India. Throughout the work, references support the author's perspective. [ABSTRACT FROM AUTHOR]