The Goods and Services Tax (GST) regime, a pivotal
reform in the nation’s taxation structure, has evolved
over the last seven years. Nonetheless, there still lies
some room for tailored adjustments in the GST
legislation to accommodate the distinctive
circumstances encountered by the industry, specifically
the Micro, Small, and Medium Enterprises (MSMEs).
Here, it may be pertinent to note that this sector
contributes around 30% to the country’s GDP, with
exports taking up around 46% of the share.