The conversation between human and AI assistant.
What could be the effect of GST bill on Indian economy?
That sounds great. But what about the impact on small businesses?
Small businesses may initially face some challenges in transitioning to the new tax regime, but in the long term, GST is expected to benefit them as well. For example, it will provide them with a level playing field as they will no longer have to compete with larger firms that can afford to evade taxes.