ASSOCHAM signs MoU to simplify GST for retailers

November 29, 2016 - India

The Associated Chambers of Commerce and Industry of India (ASSOCHAM) has signed a memorandum of understanding (MoU) with Tally Solutions, a software product company, to demystify, educate and train the retail community regarding goods and services tax (GST). It aims to facilitate technology adoption among retailers for easy compliance of the taxation system.

As per the MoU signed between D S Rawat, secretary general of ASSOCHAM and Sathya Pramod, chief financial officer of Tally Solutions, both entities plan to conduct a series of conferences for the retail community in over 15 countries across the nation, over the next few months. The conferences are designed to help the businesses shift from the existing taxation method and adapt to the new technology led law with ease.

Tax experts from government bodies will also be participating in these conferences to help clear the air about GST by discussing the law and its implementation in these events, said ASSOCHAM in a statement.

“Since the inception of GST discussion, Tally has been making constant efforts to demystify the new taxation policies for businesses and help with its smooth transition. This association with ASSOCHAM gives us a wider platform to reach out to the retail community and acquaint them with the technological changes that they need to adopt in the next few months. A thorough understanding of GST will allow these businesses to continue their functions comfortably post the roll out as well,” said Pramod.

“GST has created a lot of clamour in the business community given the technological changes required to comply with the law. The lack of clear knowledge at the grassroots level about the draft bill is another reason for resistance by the smaller businesses in the nation. We are happy to partner with Tally on this, as this provides our members a platform to understand the significance of this new taxation policy and make an easy transition towards it,” said Rawat.

The first series in the conference will be held in Mumbai on November 29 and will continue till March 23, 2017. These camps will be held across 15 cities in India including Mumbai, Chennai, Delhi, Hyderabad, Pune, Indore, Cochin, Goa, Coimbatore, Jaipur, Lucknow, Dehradun, Bhubaneswar, Jammu and Guwahati. (KD)