Small businesses not tech-empowered, unprepared for GST: CAIT
GST preparedness among small businesses is a challenge as the traders are mostly ill-equipped in terms of technology, said the Confederation of All India Traders
New Delhi: Traders’ body the Confederation of All India Traders (CAIT) on Monday said the preparedness for GST among small businesses remains a major challenge, as the traders are mostly ill-equipped in terms of technology, which is a pre-requisite for complying with the new tax regime.
“... Nearly 60% of small businesses in the country have been devoid of digital technology. The basic challenge is that at a time when everything will be routed through digital technology under GST, how will the large number of traders be able to comply with GST from July 1,” CAIT said. CAIT secretary-general Praveen Khandelwal said that till the time traders across the country are equipped with technology, some in-between measures need to be adopted to help them in GST compliance through digital technology.
He suggested that trade associations across the country can be used as GST facilitation centres and computer kiosks can also be installed in commercial markets enabling the traders to comply with GST by paying a nominal fee for usage.
CAIT has also asked trade associations to form clusters comprising 30-50 traders each and connect them with an accounting professional who can assist in compliance with the indirect tax regime.