You are here: Home » Economy & Policy » News » GST
Business Standard

GST protests: CAIT to meet trade leaders tomorrow to discuss issues

Meeting will have discussions on GST effects, implications, access, roadblocks & challenges

Press Trust of India  |  New Delhi 

Goods and Services Tax
Goods and Services Tax

Trade leaders from various states are meeting here tomorrow to take stock of the situation post implementation of the and chalk out future working plan.

The Confederation of All (CAIT) has convened a day-long conference of prominent trade leaders belonging to different states.

The conference will have extensive rounds of discussions on the effects of the and its implications on the trading community, roadblocks and challenges and access to technology.

will also formulate a working plan for the next six months for rolling out a on the

Besides, to encourage more people to adopt technology, has suggested to the to either exempt the accounting software from the for some specified period or bring the same under a lower tax slab.

Currently, the accounting software is placed under 18 per cent

Feedback received by from different parts of the country has revealed that during the last five days of the roll out of GST, the demand for hardware has increased 2 per cent while at the same time, the demand for accounting software has also increased up to 50 per cent in comparison to the last month.

About 40 per cent of this demand comes from metro and big cities whereas the remaining 60 per cent is from small towns.

The has maintained that nearly 60 per cent of small businesses in the country particularly in tier2 and tier3 cities are yet to computerise their existing business format whereas is entirely based on e-compliance having four verticals e-tax, e-return, e-audit & e-assessment.

Whether paying tax, or filing return, everything has to be routed through technology under GST, hence there is already a persistent demand for systems and accounting software in the market.

(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)

First Published: Thu, July 06 2017. 20:09 IST