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Indian trade leaders to discuss GST, digital payments
25
Apr '17
Trade leaders from various Indian states will meet in New Delhi to discuss the new goods and services tax (GST) and the issue of digital payments with a view to formulate a 60-day strategy for a national campaign to educate and empower the trading community on adopting the new tax. The Government is likely to implement the GST from July 1, 2017.   
 
In addition, the Union Government is also taking pro-active steps for promoting faster adoption of digital payments in the country.
 
The two day national conference of prominent trade leaders of states is being organised during April 27-28, 2017 by the Confederation of All India Traders (CAIT). More than 150 trade leaders are expected to participate in the conference, a release from CAIT said.
 
"Our effort is to train them as master trainers on both GST and digital payments and in turn they will train trading community at district level in their respective states," said CAIT national president BC Bhartia and secretary general Praveen Khandelwal.
 
While GST is a technology based taxation system, much different from current taxation regime, about 70 per cent small businesses in the country still have to adopt computerisation in their existing business format, they said. Therefore, it is a challenge to equip them with technology before rolling out of GST. 
 
For educating on GST, the CAIT has chosen Tally Solutions Limited as its technology partner whereas for spreading awareness on digital payments, it has tied up with MasterCard and HDFC Bank. So far, CAIT has already organised 113 conferences on GST and digital payments in the past 100 days.
 
The event will discuss various topics such as overview of proposed GST structure and its implications on trade and commerce, role of technology in GST taxation system, need to have dedicated computerised business solution for GST compliance, treatment of inter-state movement of goods and services, rules pertaining to place of supply, raising of invoices, availing of input tax credit, and role of trade leaders and trade associations in ensuring penetration of GST education among traders across the country. 
 
The conference will also deliberate on linkages between digital payments and GST, why digital payment is essential for future business in India, ways and means for faster adoption of digital payments, percolation of digital payments down the line among non-corporate sector, and advantages and road blocks of digital payments adoption. (SV)

Fibre2Fashion News Desk – India


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