‘GST rationalisation will make compliance easier for small and medium retailers’

Retail engagement platform Netree on Tuesday called for further rationalisation of the goods and services tax (GST) by restricting the […]

   

Retail engagement platform Netree on Tuesday called for further rationalisation of the goods and services tax (GST) by restricting the number of tax slabs at two to promote the retail sector growth as too many slabs create compliance burden for small and medium retailers. “Rationalisation of GST should be done with just one to two plainer slabs along with simplification on account of filing of returns,” Desi Valli, founder and CEO of Netree, said in a statement. He also urged the government to look at simplifying the procedures for filing returns. Too many slabs create compliance burden for small and medium retailers, he said. “As we need to deal with all the stakeholders in retail value chain, simplification of procedure will make the compliance easier and error free,” Valli said. Further, Valli demanded tax incentives on digital payments for small and medium retailers to be announced in the forthcoming budget to promote digital transactions. “Government must propose separate funds to organise start-up meets to enable various stakeholders to meet and explore opportunities,” he added. (With PTI Inputs)





Trending

New-Automation

The future of work arrives early as Covid-19 accelerates automation

Highlights of finance minister Nirmala Sitharaman’s Aatmanirbhar Bharat stimulus 3.0

FM Sitharaman announces Aatmanirbhar Bharat 3.0 stimulus package worth Rs 2.65 lakh crore

travel industry

Travel in India to boom again with 50 per cent people making plans already: Report

salary hike

87% of Indian companies plan to give salary hike in 2021: Survey

wedding jewellery

Jeweller confidence revives on festive demand hopes for gold

How-Can-CFOs-Drive-Sustainability-in-Businesses

How Can CFOs Drive Sustainability in Businesses?

Bihar economy-2020 brings unemployment on rise, lack of industries drags the growth

Unemployment in Bihar on an all-time high, lack of industries further curtail the economic growth

Indian exports

India’s trade deficit narrows to $8.78 billion, exports dip 5.4% in October

Ficci president news

FICCI: Indian economy set to bounce back, emerge stronger from COVID-19 crisis

Expectations-from-Festive-Season

Festive season has shed reticence of consumers and is fuelling online shopping

India-The next emerging superpower in artificial intelligence

India- The next emerging superpower in artificial intelligence

garment industry india

Covid 19 impact: Garment industry unravels