What Big Businesses has to say about GST? Exclusive Interview

Our team conducted an survey to know what was the affect of the GST on large businesses whose annual turnover exceeds 20 lakhs.
A shop in Big bazaar,West Bengal
By Biswarup Ganguly ,CC BY 3.0 , via Wikimedia Commons

Question 1- What do you think GST is all about?
Answer   1- GST is an indirect tax which replaced multiple cascading taxes levied by the Central and state government, example VAT,CST etc

Question 2- How you tackled GST?
Answer   2-Our business is affected the most by GST as we immediately needed to get ourselves registered for GSTIN. Further we had purchased GST billing software and appropriate training was given to the billing department which raised our operational cost.GST came into effect in the middle of the financial year and took time for us to adjust ourselves according to the new tax regime. One thing which we appreciated that now the whole procedure is only and we do not have to go here and there for any work related to taxation.

Question 3-What about the goods that were produced and packaged before 1st July 2017?
Answer   3-As you know that before implementing this new tax regime, the government gave amply time so that the goods can be sold. Even if some goods are left they will be sold based on the previous Prices as this goods may include CST ,VAT which may be previously paid to the gov.

Question 4-Is there any change in no. of customers?
Answer   4-Yes there is a change as now the people would prefer comparatively small shops as they know that large establishments like us may increase the prices because of operational cost.

Question 5-Do you think GST is beneficial for-
I have two opinion about GST(1)at the time been GST is not good for us as it raised the business's operational cost (2)it eliminated various other taxes and made many things cheaper which is demanded by our customers.

For government
Yes it is beneficial for the government as they need not have to take a pain for collecting other taxes and will save the money.

For other businesses
It is more beneficial to small business as compared to large ones.

For consumers

Yes it is more beneficial to them then anybody other as it will reduce the price goods but at the same time it will increase the price of goods which are under the tax slab of 28%.
What Big Businesses has to say about GST? Exclusive Interview What Big Businesses has to say about GST? Exclusive Interview Reviewed by Roman Empire on October 04, 2017 Rating: 5
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