GST has been identified as one of most important tax reforms, which will impact every business irrespective of nature of transaction and sector in which they operate, in terms of how they operate, do business, manage their cash working capital. Plus, there are stringent penalties prescribed for non-compliance, which would range between minimum of Rs. 5K to a maximum of 0.25 Percent of the turnover. The GST regime also provides the rating for business, more disciplined business would fall under higher rating and there are provisions for black-listing.