[458] Wesleyan Journal of Research, Vol 14 No 02 (February 2021) ISSN – 0975-1386 Research article: (Commerce) PERCEPTION OF MSMES TOWARDS FAVOURABLE ASPECTS OF GOODS AND SERVICE TAX (GST) IN INDIA (A Case Study of Katihar District, a Semi-Urban area in Bihar-After 3 Years of GST in India) Abhishek Kumar Gupta Assistant Professor, Department of Commerce, D.S.College, Katihar (Under Purnea University), Bihar, India. Email ID : abhishekkrgupta16@gmail.com Dr. Bharat Kumar Meher Assistant Professor, Department of Commerce, D.S.College, Katihar, (Under Purnea University, Purnia), Bihar, India ORCID : https://orcid.org/0000-0002-7264-5882 Email ID : bharatraja008@gmail.com Abstract The Goods and Services Tax is a common tax used by the majority of countries globally. After independence of India, Goods and Services Tax was the biggest reform in the country’s tax structure, came into effect from 1st, July, 2017. The main objective behind incorporating GST was elimination of double taxation, which cascades from the manufacturing level to the consumption level. Before introduction of Goods and Service Tax (GST), too much hope and misconception were prevailing in the mind of people and Government of India regarding GST like it will-reduce tax burden, be simpler than old tax system, bring uniformity in tax rate, prevent black money creation, increase revenue from tax, bring more transparency in business, help lower income group people etc. This paper is an attempt to analyse the perception of MSMEs’ owners and managers towards GST relating to their hopes and misconceptions related to GST after 3 years of completion of introduction of GST. The study is based on the primary data collected through questionnaire, using random sampling method, designed on five point likert scale. Keywords: Goods and Services Tax (GST), Indirect Tax, MSMEs, Chi-Square Test, Fisher’s Exact Test. Article History *Received: 02/02/2021; Accepted: 09/02/2021 Corresponding author: Abhishek Kumar Gupta Introduction The goods and services tax (GST) is a tax on goods and services which are sold domestically for consumption. The tax is included in the final price and paid by consumers at point of sale and