One year of GST: SME cash flows impacted, but story has a sunny side too

With the simplified return filing model days away from implementation, GST is likely to become a far smoother process than what it is right now

GST is going to be one year old on July 1, and the journey over the past one year has been a mixed bag. While the objective of GST to eliminate the cascading effect of tax and to simplify indirect taxation in India is noble, implementation of the new regime has been easier said than done. There have been continuous challenges in coming to terms with transitional requirements, filing returns on the portal, and equipping one’s business for the increased compliance burden that GST brought along with it.

However, it is heartening to note that the government has taken