supply chain, infra not gst-ready - economic laws practice...khan kicks off 'vichitra'...
TRANSCRIPT
942018 Supply chain infra not GST-ready Small traders | The Indian Express
httpsindianexpresscomarticlebusinesseconomysupply-chain-infrastructure-not-gst-ready-small-traders-4721936 15
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Written by George Mathew Khushboo Narayan | Mumbai | Updated June 26 2017 40013 am
Tax ocials await traders on the rst day of GST registration in Mumbai on Sunday Pradip Das
Ahead of the Goods and Services Tax (GST)
implementation on July 1 small and medium
traders have said they are not prepared in
terms of infrastructure and the readiness of
their supply chains for the new tax regime
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Home Business Economy Supply chain infra not GST-ready Small traders
Supply chain infra not GST-readySmall tradersDespite efforts by the government the transitional provisions have failed to account for or facilitatetransition of credit and stocks in many scenarios relevant to businesses According to sources thetextile and garments sector workers are going on a strike from June 26 against the high rate of GST
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942018 Supply chain infra not GST-ready Small traders | The Indian Express
httpsindianexpresscomarticlebusinesseconomysupply-chain-infrastructure-not-gst-ready-small-traders-4721936 25
ldquoTraders are not prepared for it (GST)The
biggest problem is that a large number of the
small traders donrsquot have computers or any
online infrastructure It is not going to be
easy Apart from this there are lots of issues
with the internet connectivityhelliprdquo said Viren
Shah president of Federation of Retail
Traders Welfare Association which
represents 96 per cent of traders across
Maharashtra
ldquoWe have written to the CBEC (Central Board of Excise and Customs) and are hoping
that initially the government will allow us to file returns manually for some time
We are also hoping it will further relax the extension for filing the tax returnsrdquo said
Shah
The government has already relaxed the deadline for filing of returns for the first
two months following GSTrsquos roll-out
According to the revised timeline for filing returns the GST Return-1 (GSTR-1)
which reflects sale invoice details can now be filed by September 5 instead of the
earlier deadline of August 10 For August the new deadline for GSTR-1 will be
September 20 instead of September 10
Traders have also cited increased compliance cost as a significant reason of worry
as it can disrupt their supply chains ldquoIt took a developed country like Singapore
seven years to implement GST one would think that it will take longer time in a
large country like Indiardquo said Kumar Jain vice-president of Mumbai Jewellers
Association
Jain said the gems and jewellery sector will find it tough to engage goldsmiths who
are paid on a daily basis to submit bills and invoices According to experts the
challenges for thousands of businesses across the country will be on multiple
counts
ldquoFirstly the government despite its best intentions has only been able to release
various rules necessary for ensuring changes in business system as late as last week
coupled by the fact that many of the provisions (released earlier) needs greater
clarityhelliprdquo said Rohit Jain and Kumar Visalaksh Partners Economic Laws Practice
ADVERTISEMENT
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942018 Supply chain infra not GST-ready Small traders | The Indian Express
httpsindianexpresscomarticlebusinesseconomysupply-chain-infrastructure-not-gst-ready-small-traders-4721936 35
ldquoSecondly the connected challenge is on account of setting up the right IT system in
place so that accurate reportage and compliance can be undertaken with ease With
the lingering ambiguity on few central provisions and late release of many rules
setting up a compliant IT system has emerged as a big challengerdquo Jain and
Visalaksh said
Despite efforts by the government the transitional provisions have failed to
account for or facilitate transition of credit and stocks in many scenarios relevant to
businesses According to sources the textile and garments sector workers are going
on a strike from June 26 against the high rate of GST
For all the latest Business News download Indian Express App
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Get 1 Cr Life Cover Rs680Monthtermlifepolicybazaarcom
TrendingWhat director MiraNairs mother toldphotographers atCannes is winning
hearts all over again
942018 Supply chain infra not GST-ready Small traders | The Indian Express
httpsindianexpresscomarticlebusinesseconomysupply-chain-infrastructure-not-gst-ready-small-traders-4721936 45
TAGS GST
GST collections dropped to Rs93960 crore in AugustFinance Ministry
GST fraud case The AccidentalPrime Minister director gets bail
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942018 Supply chain infra not GST-ready Small traders | The Indian Express
httpsindianexpresscomarticlebusinesseconomysupply-chain-infrastructure-not-gst-ready-small-traders-4721936 55
rejects Russia s request forAdanis as AK-rifle dealpartner
52 comments 58
Dalit stick to ScheduledCaste IampB Ministry to media
43 comments 53
Show more articles
Vuukle
The ExpressGroup The Indian Express The Financial Express Loksatta Jansatta inUth Ramnath Goenka Awards
Privacy Policy Advertise with Us Contact Us Subscribe Statutory provisions on reporting (sexual offenses)
Copyright copy 2018 The Indian Express [P] Ltd All Rights Reserved
942018 Supply chain infra not GST-ready Small traders | The Indian Express
httpsindianexpresscomarticlebusinesseconomysupply-chain-infrastructure-not-gst-ready-small-traders-4721936 25
ldquoTraders are not prepared for it (GST)The
biggest problem is that a large number of the
small traders donrsquot have computers or any
online infrastructure It is not going to be
easy Apart from this there are lots of issues
with the internet connectivityhelliprdquo said Viren
Shah president of Federation of Retail
Traders Welfare Association which
represents 96 per cent of traders across
Maharashtra
ldquoWe have written to the CBEC (Central Board of Excise and Customs) and are hoping
that initially the government will allow us to file returns manually for some time
We are also hoping it will further relax the extension for filing the tax returnsrdquo said
Shah
The government has already relaxed the deadline for filing of returns for the first
two months following GSTrsquos roll-out
According to the revised timeline for filing returns the GST Return-1 (GSTR-1)
which reflects sale invoice details can now be filed by September 5 instead of the
earlier deadline of August 10 For August the new deadline for GSTR-1 will be
September 20 instead of September 10
Traders have also cited increased compliance cost as a significant reason of worry
as it can disrupt their supply chains ldquoIt took a developed country like Singapore
seven years to implement GST one would think that it will take longer time in a
large country like Indiardquo said Kumar Jain vice-president of Mumbai Jewellers
Association
Jain said the gems and jewellery sector will find it tough to engage goldsmiths who
are paid on a daily basis to submit bills and invoices According to experts the
challenges for thousands of businesses across the country will be on multiple
counts
ldquoFirstly the government despite its best intentions has only been able to release
various rules necessary for ensuring changes in business system as late as last week
coupled by the fact that many of the provisions (released earlier) needs greater
clarityhelliprdquo said Rohit Jain and Kumar Visalaksh Partners Economic Laws Practice
ADVERTISEMENT
BUZZING NOW
Government spent Rs13238 crore onGST advertisements
August GST revenuemop-up falls to Rs93960 crore
Cant have an airlinecompletely owned byQataris AviationMinistry
OpinionThere is a concertedeffort to pressurise JampKpolice Security forcesmust not fall into trap of
a tit-for-tat ght
OpinionDalits must beaddressed with genuinesensitivity nothypocritical
benevolence
WATCH NOW
Kerala battled the worst oods in a 100years Here is a look at some of the de
EntertainmentBigg Boss 12 launch inGoa highlights SalmanKhan kicks off vichitraseason
EntertainmentBharti Singh andhusband HarshLimbachiyaa in BiggBoss 12
EntertainmentTaimur Inaaya KareenaSaif Soha and Kunalare still in Maldives seephotos from Day 2
TrendingPeople on social mediadenounce conviction ofReuters journalists inMyanmar
942018 Supply chain infra not GST-ready Small traders | The Indian Express
httpsindianexpresscomarticlebusinesseconomysupply-chain-infrastructure-not-gst-ready-small-traders-4721936 35
ldquoSecondly the connected challenge is on account of setting up the right IT system in
place so that accurate reportage and compliance can be undertaken with ease With
the lingering ambiguity on few central provisions and late release of many rules
setting up a compliant IT system has emerged as a big challengerdquo Jain and
Visalaksh said
Despite efforts by the government the transitional provisions have failed to
account for or facilitate transition of credit and stocks in many scenarios relevant to
businesses According to sources the textile and garments sector workers are going
on a strike from June 26 against the high rate of GST
For all the latest Business News download Indian Express App
FROM AROUND THE WEB
Recommended by
ADVERTISEMENT
Arthritis Warning The Best TreatmentPlans to Relieve Joint Pain
Learn More
MUST WATCH
Bhuvan Bam RevealsWhy He Hates His Long
Fuel prices at an all-timehigh News in Numbers
Six female politicianstells us the hate and
Switch to Internationalstandards of luxury withCreacionswwwambiencecreacionscom
Ambience Tiverton |Premium Apartments inNoidawwwambiencetivertoncom
One Cup of This (BeforeBedtime) Will Burn YourBelly Fat Like Crazyhealthyindialife
Learn Pvt Banking andWealth Mgmt with XLRIJamshedpurcontenticicidirectcom
Delhirsquos Playboy Club DanceThe Night Away At ThisPulsating Nightclub NearhellipLiveInStylecom
10 min Poker Play for 6 digitcash prize Go for it nowAdda52
Win Rs 10000 every hourGet Rs 100 to Play NowAdda_52
Salary above 35000 Applyfor Credit Card Now 60+Options to Choose FromhellipBankBazaarcom
Get 1 Cr Life Cover Rs680Monthtermlifepolicybazaarcom
TrendingWhat director MiraNairs mother toldphotographers atCannes is winning
hearts all over again
942018 Supply chain infra not GST-ready Small traders | The Indian Express
httpsindianexpresscomarticlebusinesseconomysupply-chain-infrastructure-not-gst-ready-small-traders-4721936 45
TAGS GST
GST collections dropped to Rs93960 crore in AugustFinance Ministry
GST fraud case The AccidentalPrime Minister director gets bail
MORE RELATED NEWS
What is your reaction Powered by Vuukle
happy unmoved amused excited angry sad
0 0 0 0 0 0
0 comments Recommend
Write a comment
3000
or
I agree with Vuukles Privacy Policy
TALK OF THE TOWN 128293
Lois Sofia gets bail afterTamil Nadu BJP chiefcomplains she said lsquofascistBJP govt downrsquo
112 comments 52
Raghuram Rajanrsquos policiesnot demonetisation reasonfor economic slowdown saysNITI Aayog VC
112 comments 74
Rupee falls to all-time lowagainst US dollar fuel priceshit new high
89 comments 67
Congress thirsty for myblood Shivraj SinghChouhan after stone attackon his car
66 comments 65
In Rafale season Govtrejects Russiarsquos request for
Refrain from using wordDalit stick to Scheduled
0
Name
POST
942018 Supply chain infra not GST-ready Small traders | The Indian Express
httpsindianexpresscomarticlebusinesseconomysupply-chain-infrastructure-not-gst-ready-small-traders-4721936 55
rejects Russia s request forAdanis as AK-rifle dealpartner
52 comments 58
Dalit stick to ScheduledCaste IampB Ministry to media
43 comments 53
Show more articles
Vuukle
The ExpressGroup The Indian Express The Financial Express Loksatta Jansatta inUth Ramnath Goenka Awards
Privacy Policy Advertise with Us Contact Us Subscribe Statutory provisions on reporting (sexual offenses)
Copyright copy 2018 The Indian Express [P] Ltd All Rights Reserved
942018 Supply chain infra not GST-ready Small traders | The Indian Express
httpsindianexpresscomarticlebusinesseconomysupply-chain-infrastructure-not-gst-ready-small-traders-4721936 35
ldquoSecondly the connected challenge is on account of setting up the right IT system in
place so that accurate reportage and compliance can be undertaken with ease With
the lingering ambiguity on few central provisions and late release of many rules
setting up a compliant IT system has emerged as a big challengerdquo Jain and
Visalaksh said
Despite efforts by the government the transitional provisions have failed to
account for or facilitate transition of credit and stocks in many scenarios relevant to
businesses According to sources the textile and garments sector workers are going
on a strike from June 26 against the high rate of GST
For all the latest Business News download Indian Express App
FROM AROUND THE WEB
Recommended by
ADVERTISEMENT
Arthritis Warning The Best TreatmentPlans to Relieve Joint Pain
Learn More
MUST WATCH
Bhuvan Bam RevealsWhy He Hates His Long
Fuel prices at an all-timehigh News in Numbers
Six female politicianstells us the hate and
Switch to Internationalstandards of luxury withCreacionswwwambiencecreacionscom
Ambience Tiverton |Premium Apartments inNoidawwwambiencetivertoncom
One Cup of This (BeforeBedtime) Will Burn YourBelly Fat Like Crazyhealthyindialife
Learn Pvt Banking andWealth Mgmt with XLRIJamshedpurcontenticicidirectcom
Delhirsquos Playboy Club DanceThe Night Away At ThisPulsating Nightclub NearhellipLiveInStylecom
10 min Poker Play for 6 digitcash prize Go for it nowAdda52
Win Rs 10000 every hourGet Rs 100 to Play NowAdda_52
Salary above 35000 Applyfor Credit Card Now 60+Options to Choose FromhellipBankBazaarcom
Get 1 Cr Life Cover Rs680Monthtermlifepolicybazaarcom
TrendingWhat director MiraNairs mother toldphotographers atCannes is winning
hearts all over again
942018 Supply chain infra not GST-ready Small traders | The Indian Express
httpsindianexpresscomarticlebusinesseconomysupply-chain-infrastructure-not-gst-ready-small-traders-4721936 45
TAGS GST
GST collections dropped to Rs93960 crore in AugustFinance Ministry
GST fraud case The AccidentalPrime Minister director gets bail
MORE RELATED NEWS
What is your reaction Powered by Vuukle
happy unmoved amused excited angry sad
0 0 0 0 0 0
0 comments Recommend
Write a comment
3000
or
I agree with Vuukles Privacy Policy
TALK OF THE TOWN 128293
Lois Sofia gets bail afterTamil Nadu BJP chiefcomplains she said lsquofascistBJP govt downrsquo
112 comments 52
Raghuram Rajanrsquos policiesnot demonetisation reasonfor economic slowdown saysNITI Aayog VC
112 comments 74
Rupee falls to all-time lowagainst US dollar fuel priceshit new high
89 comments 67
Congress thirsty for myblood Shivraj SinghChouhan after stone attackon his car
66 comments 65
In Rafale season Govtrejects Russiarsquos request for
Refrain from using wordDalit stick to Scheduled
0
Name
POST
942018 Supply chain infra not GST-ready Small traders | The Indian Express
httpsindianexpresscomarticlebusinesseconomysupply-chain-infrastructure-not-gst-ready-small-traders-4721936 55
rejects Russia s request forAdanis as AK-rifle dealpartner
52 comments 58
Dalit stick to ScheduledCaste IampB Ministry to media
43 comments 53
Show more articles
Vuukle
The ExpressGroup The Indian Express The Financial Express Loksatta Jansatta inUth Ramnath Goenka Awards
Privacy Policy Advertise with Us Contact Us Subscribe Statutory provisions on reporting (sexual offenses)
Copyright copy 2018 The Indian Express [P] Ltd All Rights Reserved
942018 Supply chain infra not GST-ready Small traders | The Indian Express
httpsindianexpresscomarticlebusinesseconomysupply-chain-infrastructure-not-gst-ready-small-traders-4721936 45
TAGS GST
GST collections dropped to Rs93960 crore in AugustFinance Ministry
GST fraud case The AccidentalPrime Minister director gets bail
MORE RELATED NEWS
What is your reaction Powered by Vuukle
happy unmoved amused excited angry sad
0 0 0 0 0 0
0 comments Recommend
Write a comment
3000
or
I agree with Vuukles Privacy Policy
TALK OF THE TOWN 128293
Lois Sofia gets bail afterTamil Nadu BJP chiefcomplains she said lsquofascistBJP govt downrsquo
112 comments 52
Raghuram Rajanrsquos policiesnot demonetisation reasonfor economic slowdown saysNITI Aayog VC
112 comments 74
Rupee falls to all-time lowagainst US dollar fuel priceshit new high
89 comments 67
Congress thirsty for myblood Shivraj SinghChouhan after stone attackon his car
66 comments 65
In Rafale season Govtrejects Russiarsquos request for
Refrain from using wordDalit stick to Scheduled
0
Name
POST
942018 Supply chain infra not GST-ready Small traders | The Indian Express
httpsindianexpresscomarticlebusinesseconomysupply-chain-infrastructure-not-gst-ready-small-traders-4721936 55
rejects Russia s request forAdanis as AK-rifle dealpartner
52 comments 58
Dalit stick to ScheduledCaste IampB Ministry to media
43 comments 53
Show more articles
Vuukle
The ExpressGroup The Indian Express The Financial Express Loksatta Jansatta inUth Ramnath Goenka Awards
Privacy Policy Advertise with Us Contact Us Subscribe Statutory provisions on reporting (sexual offenses)
Copyright copy 2018 The Indian Express [P] Ltd All Rights Reserved
942018 Supply chain infra not GST-ready Small traders | The Indian Express
httpsindianexpresscomarticlebusinesseconomysupply-chain-infrastructure-not-gst-ready-small-traders-4721936 55
rejects Russia s request forAdanis as AK-rifle dealpartner
52 comments 58
Dalit stick to ScheduledCaste IampB Ministry to media
43 comments 53
Show more articles
Vuukle
The ExpressGroup The Indian Express The Financial Express Loksatta Jansatta inUth Ramnath Goenka Awards
Privacy Policy Advertise with Us Contact Us Subscribe Statutory provisions on reporting (sexual offenses)
Copyright copy 2018 The Indian Express [P] Ltd All Rights Reserved