Volume : 11, Issue : 3, MAR 2025

CAPITALIZING ON BUSINESS DEVELOPMENT AND CHALLENGES IN THE DIGITAL ERA RESEARCHED BY STUDENTS, PG DEPARTMENT OF COMMERCE WITH COMPUTER APPLICATIONS, MANNAR THIRUMALAI NAICKER COLLEGE MADURAI.

A STUDY ON CHALLENGES AND OPPORTUNITIES OF GST FOR SMALL BUSINESSES IN MADURAI CITY

M.ALAGUMARI, K.SATHYAPRIYA, S.SONALI, DR. M. DINESHKUMAR

Abstract

The study examines the challenges and opportunities presented by the Goods and Services Tax (GST) for small businesses in Madurai City. Through a structured analysis of financial operations, compliance costs, and policy-related hurdles, the research aims to highlight the key concerns faced by small enterprises. The Garrett Ranking Analysis identifies "Training and Awareness," "Professional Support," and "Access to Input Tax Credit" as the top factors influencing GST adoption. The study also utilizes ANOVA to assess the impact of demographic variables, revealing that educational qualification, occupation, and location significantly shape opinions on GST, whereas factors like age, gender, and income show no statistically significant influence. The research methodology employs both primary and secondary data sources, including surveys, interviews, and government reports, with a stratified random sampling approach covering diverse business sectors. The study finds that while GST has streamlined taxation and enhanced market access, compliance burdens, digital adaptation issues, and tax rate concerns remain key obstacles. The findings suggest and refining GST policies could enhance its effectiveness for small businesses. The study provides valuable insights for policymakers, business owners, and stakeholders, emphasizing the need for targeted reforms to ensure smooth GST compliance and foster business growth.

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