Impact Of Taxation On Small Scale Industries In India

Anoushka Bose, Amity University Kolkata

ABSTRACT

India majorly being an agriculture based country depends largely on small scale industries for its growth and development. These industries not only support people’s livelihood but also contribute towards building an extensive foundation of our country. However, while assessing the advantages of these small scale industries on our country’s economy, an extensive impact assessment of India’s taxation system and its effects on such industries has to conducted. This assessment would reveal the various issues that are faced by these enterprises while they are focussing on the changing economic needs of the people. The emergence of Goods and Service Tax (GST) has simplified the taxation system making it more convenient for the industrial sector. This research endeavour aims towards analysing the impact of current taxation system and policies on the small scale enterprises and its effects on the economic development of our country.

Keywords: Small scale industries, taxation, Goods and Service tax, industrial sector, tax policies