Until midnight: Noida, Ghaziabad traders anxiously await GST rollout
Noida traders said that though the move is welcome, lack of proper training will cause anxiety among the business community.noida Updated: Jun 30, 2017 21:24 IST
The business community in Noida is anxious and excited about the implementation of GST in the country. Ghaziabad traders shut their establishments against GST. At the midnight hour of July 1, the Union government of India will introduce the Goods and Services Tax (GST), touted to bring all taxes under one umbrella.
Noida traders said that though the move is welcome, lack of proper training will cause anxiety among the business community.
“We welcome this move by the Union government as this is the biggest tax reform and registered businessmen won’t have an issue. However, there is a lot of confusion regarding the format of bills and processing of bills under GST. Traders are confused on how to transport stock, how to get their purchases billed and how the billing process will function,” said SK Jain, chairman, Federation of Industrialist Traders and Jewellers Association.
“In the first 15 days, the business is expected to be slow due to lack of information among the business class. Though we welcome the move, we are worried about its implementation and administration. Better training should have been given in advance,” said Sudhir Singhal, store manager, Manohar Lal Jewellers.
“We have been holding workshops in the district of late but businessmen need better training when it comes to GST. The government should provide sanctioned bills for each business so that there is less confusion,” said Jain.
Entrepreneurs in the district welcomed the move saying that the implementation of the biggest tax reform will result in removal of bureaucracy and red tapes in business.
“All entrepreneurs have welcomed this move as it will help us get rid of bureaucratic hassles state-wise. More importantly, there is a GST council, which we can approach even in case of a confusion,” Vipin Malhan, president, Noida Entrepreneurs Association, said.
The ‘Ghaziabad udyog vyapari welfare association’ on Friday staged a peaceful protest and shut shops at major markets in Chopla and Loha Mandi.
“We demand that the roll out be postponed by at least six months as traders have little knowledge of GST. Apart from e-billing, the manual billing system should also be allowed. Traders should be educated and informed properly before the GST rollout and penalty clauses should not be levied for at least two initial years,” said an office-bearer of the association.
“The GST will affect small traders who have been doing manual billing and are not tech-savvy. They will now have to bring in software and IT equipment. The shutdown on Friday was successful,” Rajnish Bansal, a garment trader from Turab Nagar market, said.
First Published: Jun 30, 2017 21:23 IST