Digital payment of GST concerns SME entrepreneurs
New Delhi , Aug 8 : Newly appointed NITI (National Institution for Transforming India) Aayog Vice Chairman Dr. Rajiv Kumar on Tuesday addressed the issue of digital payment of the Goods on Service Tax (GST) by the Small and Medium Enterprises (SME) entrepreneurs in the national capital.Pahle India Foundation, in joint efforts with Yes Bank, had organised a seminar in New Delhi based on the impact of GST on the SMEs.
Experts from the fields of Institute of Chartered Accountancy (ICAI), Logistics department, Tax Advisory, Small scale manufacturer discussed various issues which concerned the manufacturing units of the country post the implementation of the GST.
Senior Tax Advisor, Satya Poddar asserted that soon payment of tax would be made 100 percent digitalized and that compliance automation would be implemented to ease the small and medium scale entrepreneurs for the payment of the GST.
Ashish Asaf from the Logistics Department expressed contentment and said that he was happy to get the feedback from the transport sector that with the execution of GST, the transporters have saved approximately four hours of time as they could avoid paying taxes at all levels while commutation.
Economist Dr. Kumar was appointed on Saturday who replaced former NITI Aayog Vice Chairman Arvind Panagariya.