85% of Entrepreneurs View GST Positively: Survey

 

A growing majority of Indian entrepreneurs have expressed a positive attitude toward the Goods and Services Tax (GST), despite persistent concerns about refunds and registration processes.

According to a new survey by Deloitte, 85% of entrepreneurs reported a favorable outlook on GST. Just three years ago, in 2022, only 59% had expressed a similarly positive view.

Entrepreneurs said that GST has made it easier to conduct business, improved their competitiveness, and reduced the burden of compliance compared to earlier tax regimes.

The survey also noted a marked decline in the proportion of entrepreneurs struggling with GST complexities. In 2022, 10% described GST as highly problematic, while that number has now dropped to just 5%.

 

 

Key Findings

• Entrepreneurs reported that GST had streamlined routine transactions.
• Compliance has become simpler and less time-consuming.
• Business competitiveness has improved due to clearer rules.

The Deloitte report included respondents from diverse sectors such as retail, manufacturing, and corporate services.

While acknowledging improvements, entrepreneurs highlighted areas needing further work, including faster refund processing, simpler registration, and efficient dispute resolution mechanisms.

The survey concluded that continued efforts to enhance these systems would further strengthen India’s tax environment and help businesses operate more effectively.