With just three weeks left for the roll-out of the goods and services tax (GST) from July 1, millions of traders and businesses, including big and small, are making a beeline for classes to learn the ABC of the new tax system.
Industry bodies, such as the Confederation of All India Traders (CAIT) and the Retailers Association of India (RAI), are organising nationwide classes to teach people the nitty-gritty of the GST and how to become GST-compliant.
According to industry experts, while the value added tax (VAT) was not a tech-heavy tax regime and did not have many implications for businesses, the GST is based on technology and has a complex structure. “For traders who might not be very tech savvy and have problems understanding the tax intricacies, it is important we provide them with some hand-holding,” said Praveen Khandelwal, secretary general, CAIT.
via Traders, businesses learn the ABC of GST as roll-out deadline nears | Business Standard News
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