With less than a week to go for the new indirect tax regime to kick in, small businesses are trying to understand the modalities of the goods and services tax (GST) as the compliance burden for them is set to significantly rise. Making a relaxation for small businesses, rules allow those with an …
Tag: Praveen Khandelwal
Small traders want penal norms delayed
With 60 per cent of the country’s small traders yet to be computerised, wholesalers and traders are demanding amnesty from penal provisions of GST for atleast nine months. A large number of small traders are still not educated about GST and there are expected to be teething problem for them in th…
GST: SMEs ने वित्त मंत्री से जीएसटी के लागू होने की समय-सीमा बढ़ाने की मांग की
रिटेल एसएमई व्यवसायों ने नए बिल जीएसटी के लागू होने के सेट अप के अनुपालन में शामिल जटिलताओं के कारण 1 जुलाई से लागू होने वाले वस्तु एवं सेवा कर (जीएसटी) को 2 महीने तक के लिए स्थगित करने का एक मामला बनाया है। मैक्स स्टैंडर्ड रिटेल प्राइवेट, एसआरएस ग्रुप और वी-मार्ट सहित कई खुदरा […]
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SMEs approach Finance Minister for extension of GST launch
New Delhi: Retail SME businesses have built a case for deferment of implementation of GST by two months to September 1 on account of complexities involved to comply with the new set-up. A group of retail businesses, including Max Standard Retail Pvt, SRS Group and Vmart, has written a letter to F…
Afraid of GST, retailers are limiting their purchases
Afraid of possible losses after the July implementation of goods and services tax (GST), many small retailers and wholesalers have limited the quantity of products they buy from consumer goods companies. The fear is a result of the worry that once GST gets implemented, it would apply on the goods…
GST: Traders for no linkage of input tax credit & tax payment
Traders across the country have urged the government to remove the linkage of input tax credit with payment of tax from the Goods and Services Tax (GST) clause. The indirect tax reform is scheduled to be implemented from July 1, 2017 and is likely to cover over six million businesses under the GS…
SMBs not ready for GST, delay roll out till September: CAIT
Traders association Confederation of All India Traders (CAIT) made a case for delaying the roll out of Goods and Services Tax (GST) regime to September 1 as small businesses are not yet prepared for it. Nearly 70% of small businesses in the country are yet to adopt digital technology in their bus…
Small businessmen wary of retro tax demand under GST mechanism
The Goods and Services Tax (GST) has been heralded as India’s biggest reform since the 1991 liberalisation but one aspect of it has made certain small businesses nervous. Given that it will be virtually impossible to escape the tax net once the new levy is implemented, will this make them f…
‘Alliance for Digital Bharat’ formed to help SMEs digitize
In a bid to develop conducive atmosphere for digitalisation in non-corporate sector, prominent stakeholders of economy have come forward to form the ‘Alliance for Digital Bharat”. The Alliance includes national organisations of traders, transporters, consumers, farmers, hawkers, SMEs, self-…
Budget 2016 | Quotable Quotes
“Finance Minister spent a considerable amount of time in trying to address the rural distress and the difficulties being faced by the farmers. The emphasis on the budget on various schemes and ideas, which including for instance the linking of the MNREGA scheme to rural challenges, is very signif…