Home / Knowledge / News / Textiles / ASSOCHAM signs MoU to simplify GST for retailers
ASSOCHAM signs MoU to simplify GST for retailers
29
Nov '16
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)

Fibre2Fashion News Desk – India


Must ReadView All

Sri Lanka reduces VAT on imported fabric to 5%

Textiles | On 24th Sep 2018

Sri Lanka reduces VAT on imported fabric to 5%

Considering the requests made by the stakeholders in the fabric...

E-com firms in India to deduct 1% TCS under GST from Oct 1

Apparel/Garments | On 24th Sep 2018

E-com firms in India to deduct 1% TCS under GST from Oct 1

E-commerce companies in India will have to deduct 1 per cent tax...

Courtesy: Andritz

Textiles | On 24th Sep 2018

'Strength of economy, demographics drive nonwovens demand'

The strength of the economy and demographic trends are the main...

Interviews View All

Akash Khetan, Narayan Tex Fab

Akash Khetan
Narayan Tex Fab

I find it hard to find professionals in Surat

Angelina Francesca Cheang, MY ANJE

Angelina Francesca Cheang
MY ANJE

'Consumers in the age-group 21 to 38 are driving the activewear trend'

Kaizad Hansotia, GetNatty

Kaizad Hansotia
GetNatty

Competition is the best thing that can happen to a startup

Lucilla Booyzen,

Lucilla Booyzen

South African Fashion Week (SAFW) is a B2B marketing platform for fashion, ...

Mark Tokuhara,

Mark Tokuhara

Japan-based FitJoy, a shoe brand for women, has been in the footwear...

Franco Ravazzi,

Franco Ravazzi

Italy-based Tessimenti E Orditi Tinti (T.O.T SRL) specialises in stocking...

Mark Brill, Birmingham City University (BCU)

Mark Brill
Birmingham City University (BCU)

<div>A technological breakthrough could see people getting messages about...

Mark Paterson, Technical Absorbents Ltd

Mark Paterson
Technical Absorbents Ltd

Mark Paterson, R&D manager of Technical Absorbents Ltd talks about Super...

Dave Rousse, INDA

Dave Rousse
INDA

INDA, the Association of the Nonwoven Fabrics Industry, serves hundreds of ...

Ritu Kumar, Label Ritu Kumar

Ritu Kumar
Label Ritu Kumar

‘Classics will return’ "There are a lot of people wearing western clothes ...

Tony Ward, Tony Ward

Tony Ward
Tony Ward

"You have to truly understand what your client wants, know her needs, what ...

Divvya and Nidhhi Gambhir, Walnut

Divvya and Nidhhi Gambhir
Walnut

<b>Divvya and Nidhhi Gambhir</b> started their career with the launch of...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

Leave your Comments


September 2018

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

news category


Related Categories:

Advanced Search