GST Awareness Programme with MSME

Description

For creating awareness about GST’s for MSME a national campaign was ran by the Small Industries Development Bank of India (SIDBI) and Federation of Indian Micro and Small and Medium Enterprises (FISME) in 2017. Most of the entrepreneurs at that point of time were very curious to know about the things changing during the early interactions going on in the MSME’s when it was working at the ground level. They were curious to know about the basic structure and administration of the GST regime. At that point of time, they all looked it from a transactional point of view.

Goods and Service Tax (GST) is a single tax to be levied on the supply of goods and services. It will be borne by each part of the goods and service supply chain, right from the manufacturer to the consumer.

Tax paid on the purchase of goods and services (called Input Tax), whether for resale or for producing/manufacturing a new item will be utilized as credits to offset the tax to be paid on sale of the said goods. This process will be repeated as many times as the said goods change hands in the original form or in a new form.