Vol. 4, Issue 7, Part F (2018)

Abstract
The research paper is regarding the impact of GST on the small business enterprise and the automobile industry. The implementation of GST created a condition of chaos and confusion among the people. GST was a game changer taxation system for Indian economy. It is one of the biggest reforms to unify all the indirect taxes. It covered those goods which where earlier not covered under the taxation system. The GST was implemented to reduce the concept of ‘tax on tax’ and to increase the GDP of the country. The implementation of GST fixed the rates for particular commodity to avoid fluctuation in the price from state to state. GST helped to lower the prices in the automobile sector. The cost of vehicles has reduced due to the fixed rate at 18% and 28% on the vehicles while the prices of the automobile spares have increased by implementation of GST. The basic aim behind the implementation of GST was to the upliftment of people below poverty line and the boost in business activities. It is a tax imposed at each point of supply of the good.