GST Impact on Suppliers on e-commerce Platforms

India’s e-commerce sector is expected to cross revenue of Rs.12,000 crores in 2020, according to a joint Assocham-Forrester study. It is also expected that the sector will grow at an annual rate of 51%, the highest in the world. The Indian Government’s recent move of currency demonetisation and the vigorous push for digitisation in every aspect of life has only propelled the e-commerce industry’s growth.

For a supplier on an e-commerce platform, it is certainly an exciting time to do business, given the accessibility to geographically distant customers, low operational costs, and the scalability that e-commerce provides. At the same time, taxation on e-commerce transactions in the current regime is ambiguous and different states have different levies of tax. The advent of GST will bring a lot of questions in the minds of suppliers on e-commerce platforms. Will GST bring uniformity in taxes on e-commerce across the nation? What will be the impact of GST on their profit margins and operational costs?

Let us understand the impact of GST on suppliers on e-commerce platforms.

Seamless availability of input credit

Current regime

In the current taxation regime, e-commerce platforms charge Service Tax on the services provided to suppliers on their platform, such as warehousing, logistics, marketplace commission, etc. Suppliers cannot claim input credit on the Service Tax paid on these services, and it becomes a cost. Similarly, the Excise duty paid on goods is also a cost to a supplier in the current regime.

GST regime

A great positive for suppliers in the GST regime is the seamless availability of input credit. Under GST, input credit will be available on all inputs used in the course of or for the furtherance of business. In effect, this will result in reduced cost of operations for suppliers as they will now be able to take the credit of tax paid on inputs, which was until now adding up to their cost.

A great positive for e-commerce suppliers in the GST regime is the seamless availability of input creditCLICK TO TWEET

Uniform taxation across states

Current regime

In the current regime, suppliers have to keep track of the state-wise taxation rules relating to the products they deal in. The same product is taxed at different rates in different states. In some cases, due to ambiguity in dealing with the models of e-commerce business, multiple taxes are imposed on the same product. Many states are also imposing entry tax on the entry of goods sold online to their states.

GST Regime

Under GST, all goods and services will be assigned specific tax rates which will be uniform across the nation, regardless of whether they are sold at physical stores or online.  Hence, as a supplier, GST brings greater reachability to customers across the nation.

For e-commerce suppliers, GST brings greater access to customers across the nationCLICK TO TWEET

Mandatory registration

Current regime

Many suppliers on e-commerce platforms are not registered under the current tax regime, as their turnover does not exceed the threshold limit. This enabled sale of products at a lower price as compared to registered dealers. Compliance tasks such as maintenance of detailed accounts and invoices, and filing of returns are also not required.

GST regime

In the GST regime, all suppliers on e-commerce platforms have to mandatorily register. Hence, irrespective of how low their turnover is, a person supplying goods or services on e-commerce platforms has to register and fulfil the duties as a registered dealer, which includes maintaining detailed accounts and records, filing returns and paying taxes on a monthly basis. This can be perceived as unfair to e-commerce suppliers because for persons making supplies through physical stores, registration only on crossing of the threshold limit is the rule and they also have an option of paying tax on composition basis if their turnover does not cross Rs. 50 Lakhs. Also, suppliers who own their own portals do not come under the scope of e-commerce and hence, need to register only if their turnover exceeds the threshold limit. The need of the hour for e-commerce suppliers is to prepare for the additional compliance activities and cost which GST will bring. This can be made easier by using technology to make compliance activities easier, inculcating discipline in maintenance of accounts and records, and careful planning of cash flows.

Under GST, all suppliers on e-commerce platforms have to mandatorily register.CLICK TO TWEET

Cannot become composition tax payers

Current regime

Under VAT in the current regime, suppliers with turnover less than Rs.50 Lakhs can opt for the composition scheme, by which they only need to pay taxes at a small percentage of their turnover and file returns usually on a quarterly basis, depending on the state from which they operate.

GST regime

Under GST, such suppliers cannot opt for the composition scheme even if their turnover is less than Rs.50 Lakhs. They have to be registered as regular dealers.  For such suppliers also, compliance activities and cost will increase under GST due to the requirements of filing returns and paying tax on a monthly basis along with maintaining accounts and records in the prescribed manner.

Cash flow will be impacted

Current Regime

E-commerce suppliers generally operate on thin margins. Once a sale is made through an e-commerce platform, the e-commerce operator collects the money from customers and remits it to the supplier, after deducting the marketplace commission. Let us take an example of a supply in the current regime.

Example: Fast Deals is an e-commerce operator and Rakesh Pvt Ltd is a registered supplier on the platform. Rakesh Pvt Ltd supplies a mobile phone on Fast Deals for price of Rs.11,200 (including VAT) on 1st May, ’17.

Particulars	Rs.
Value of mobile phone sold	10,000
VAT @12%	1,200
Sale price	11,200
(-) Marketplace commission, including Service Tax*	(-) 200
Amount remitted to supplier by e-commerce operator	11,000

* Assuming marketplace commission of Rs. 200 for illustration purposes.

GST Regime

Under GST, e-commerce suppliers will face 2 challenges:

1. Their cash flow will be affected by the tax collection at source (TCS) @ 2% by operators. In the GST regime, operators are liable to collect tax on supplies made through their platform and remit only the remaining amount to the supplier.

Let us consider the same example as above in the GST regime.

Particulars	Rs.
Value of mobile phone sold	10,000
GST @ 12%	1,200
Sale price	11,200
(-) Marketplace commission, including GST*	(-) 200
(-) TCS @ 2% on Rs.10,000	(-)200
Amount remitted to supplier by e-commerce operator	10,800

* Assuming marketplace commission of Rs.200 for illustration purposes.

Here, the amount remitted to the supplier by the e-commerce operator is Rs.10,800, after deducting TCS. Hence, when the monthly impact of TCS on an e-commerce supplier is analysed, the amount of cash blockage becomes quite significant, especially for small dealers operating on thin margins. This tax paid will be available as input credit to the supplier on 15th of the next month, which means cash blockage of 30-45 days.

1. The input tax credit (ITC) available to e-commerce suppliers depends upon their vendor’s compliance. The tax paid by an e-commerce supplier on purchases from his/her vendor can be availed as ITC only if the e-commerce supplier’s vendor has filed the monthly return and made full payment of the tax due. In case of non-compliance by the vendor, the e-commerce supplier will lose the eligible ITC. In such situations also, the suppliers’ cash flows will be significantly impacted.

Hence, e-commerce suppliers must consider the impact of TCS and non-compliance by their vendor while making decisions on the vendors to be selected, the product pricing, and working capital.

Conclusion

For suppliers on e-commerce platforms, GST certainly brings cost reductions in the form of availability of input credit and the levy of a single tax on supplies across the nation. It is expected that it will be easier to do business in the GST regime with greater clarity on the treatment of e-commerce transactions and uniformity in the taxes levied. However, suppliers must also be prepared for the impact on their cash flows due to tax collection at source (TCS) by e-commerce operators, non-compliance by their vendors and payment of taxes on a monthly basis. Compliance activities will also increase for suppliers in the GST regime due to mandatory registration. They cannot opt for composition levy even if their aggregate turnover is less than Rs.50 Lakhs. Being a regular dealer requires filing of returns on monthly basis and maintenance of detailed accounts and records. As a supplier, it is important to plan and prepare for the GST regime. Awareness of the compliance requirements under GST, proper training of resources to handle these requirements and use of technology to make all this easier will ensure that suppliers can capitalise on the new era of e-commerce in India.

Update on GST Acts and Rules

The Government is making all efforts to stick to the timeline of 1st July for GST implementation. In the 15th GST Council meeting on 3rd June, 2017, the rates of 6 items were decided, including gold, footwear and textiles. All the states, except West Bengal, have also agreed to roll out GST from 1st July, 2017. Following is the status update on the GST Act and rules:

In the 16th GST Council meeting on 11th June, 2017, the GST Council lowered the tax rates for 66 items and raised the limit on turnover for composition tax payers from Rs. 50 Lakhs to Rs. 75 Lakhs.

GST Acts

• CGST Act, IGST Act, UTGST Act and Compensation to the States Act have been passed in the Parliament and have received presidential assent on 13th April, 2017. Following are the finalized Acts:

CGST Act

IGST Act

UTGST Act

Compensation to the States Act

• SGST Act has been passed in 25 states, the latest being Meghalaya.

Rules

GST rules finalized are:

• Composition
• Valuation
• Input Tax Credit
• Invoice, debit and credit notes
• Payment
• Refund
• Registration
• Return
• Accounts and Records
• Transition

Rules on Advance ruling, Appeals and revision, Assessment and audit, e-Way bill are still in draft.

Formats

GST formats have been finalized and are given below:

• Composition formats
• ITC formats
• Payment formats
• Refund formats
• Registration formats
• Return formats:
  • GSTP formats
  • Mismatch formats
  • Return formats
• Accounts and records
• Transition

Rate Schedule

Over 1200 goods and 500 services have been assigned GST rates in the 4 tax brackets of 5%, 12%, 18% and 28%. There is also a Cess over and above the peak rate of 28% on demerit and luxury goods. The finalised rate schedule of goods and services is given below:

Goods	Services
Goods decided in GST Council meeting on 18.5.’17 Rate schedule Addendum to the Rate Schedule	Rate schedule
Goods decided in Council meeting on 3.6.’17 Rate schedule Addendum to the Rate Schedule	Services under Reverse Charge
Goods decided in Council meeting on 11.6.’17 Rate schedule	Classification scheme for services
Compensation Cess rates	Classification scheme for services
IGST exemption and concessions list Approved in meeting on 3.6.’17 Approved in meeting on 11.6.’17

The next GST Council meeting is scheduled on 18th June, 2017, to discuss issues related to e-way bills and lottery.

How will GST Transform the Indian Wholesale Market?

India is a land of growing consumerism. With about 14 million retail points serving the end customer, in both urban and rural markets, it is a mammoth task for manufacturers – especially those of FMCG and consumer durables – to address the demand. What makes this even more challenging is the fact that as on today, 92% of the retail sector is unorganized – making it practically impossible for a manufacturer to cater to the last mile, solely on the strength of direct distribution channels.

The inevitable saviour? The Indian wholesale market.

A preamble

Before we delve further on the impact of GST on the wholesale market, it is probably useful to understand the position of a wholesaler in the supply chain, vis-à-vis a distributor, who too, is a middleman between the manufacturer and the retailer. While the nature of business is pretty much the same, the behaviours are different.

A distributor, for instance, has a commercial relationship with the manufacturer. As a result, while he may deal in multiple product lines, he ensures that they are non-competing in nature. While he mostly services retailers who are his regular buyers, he occasionally services the wholesaler as well. A distributor often is a part of the principal manufacturer’s promotional efforts, providing manpower and cash support to roll out schemes across their chain of retailers. He also provides a range of services such as product information, estimates, technical support, after-sales services, and most importantly credit to their retail customers. In a bid to safeguard his business, he will often have agreements with the principal manufacturer, which limit the number of distributor entities in a particular territory. All in all, a distributor is quite organised, maintains a healthy margin, and has almost the same equation with retailers, as manufacturers have with him.

A wholesaler, on the other hand, largely operates without any commercial or business obligations. He buys in bulk – mostly from the manufacturer, occasionally from the distributor – and resells it, again in bulk – mostly to retailers and occasionally to distributors and other wholesalers. His bulk-buying nature allows him to bargain for lower prices from the manufacturer. Also, he often deals in a huge range of contrasting products, as long as it results in overall profit for him. Retailers – especially small ones in urban and most rural ones – flock to him, because they can get products at lower costs (thus the term, wholesale rates) and, they are not subjected to any terms and conditions, like distributors are. However, the flip side is, the wholesaler does not offer any credit, as he himself works on thin margins, and mostly does not take back unsold inventory/stock. This retailer-wholesaler dynamics allows manufacturers to achieve sales from those markets, where they are not able to handle direct retail sales and shipments.

GST impact on wholesale

Having discussed how wholesalers operate, we can now start to appreciate that not only distributors but wholesalers too, are extremely crucial cogs in the supply chain wheel, which manufacturers cannot survive without. Thus, while manufacturers may have started preparing to brace the impact of GST on themselves and their direct channels – distributors and outlets, they will also be fairly concerned about the wholesalers that they work with. With the wholesale market on its way to recovery after being hit by the demonetization wave last year, it remains to be seen how it will negotiate the bigger wave of GST about to hit the shores of the Indian economy, come July 1st.

Here are 4 ways in which, we believe, GST will transform the Indian wholesale market –

1. More wholesalers paying tax

Wholesalers, as discussed above, are mostly into bulk transactions of a wide range of products, and immediate payments in cash. Also, they may buy both from manufacturers as well as distributors – which entail different tax liabilities for them. Since most wholesalers do not have an excise registration, they cannot pass on the excise tax liability to the next buyer in the chain, and the tax credit chain is broken, pretty early on. Coupled with the fact that the tax jurisdiction in the existing taxation regime is not transaction based – the need to maintain a neat record of invoices, that too for compliance, goes down and more focus is given to the prime business activity of buying and selling. This has led to a scenario, wherein most wholesalers are unable to stay compliant due to the associated complexities, leading to reduced tax liabilities. This allows them to undercut market prices, and generate volume sales. While this still translates into wafer-thin profits – as low as 1 percent – life is good for the typical Indian wholesaler, as he follows a largely credit-free policy.

Under the GST regime however, every invoice pertaining to taxable supply has to be uploaded on the GSTN’s common portal and has to be accepted by the buyer. On top, GST subsumes most of the indirect taxes, which leads to seamless tax credit flow across the chain, irrespective of whom the wholesaler is buying from and selling to. Also, it no longer entails multiple registrations for multiple taxes – making it much easier for a wholesaler to stay compliant in the coming times. Yes, there may still be those few truant wholesalers or retailers who may choose not to abide by the compliance norms. However, the only possibility for tax evasion will arise if every single entity in the supply chain is non-compliant – which is highly unlikely. The rest of the compliant wholesale channel is bound to boycott business with such entities after a while – practically forcing them to start filing proper returns in order to sustain business relations and definitely, their business. In short, the GST era will see the large segment of wholesalers being brought into the tax bracket.

2. Destocking during the transition phase

One of the biggest challenges for the wholesale market has always been, that their business hinges on low margins. In the wake of demonetization last year, it went through a major cash crunch, and the most natural response to the same was to de-stock to improve their liquidity. FMCG players such as Dabur and Tata Global Beverages have predicted a repeat of the same once GST comes in, primarily because of the last mile i.e., the retailers fearing about the availability of input tax credit on the existing stock.

To begin with, retailers who are currently registered under state VAT laws would have paid VAT on all the stock held on the transition date. Although provisions have been incorporated in the GST Law, wherein VAT paid under the current regime will be allowed as input credit under the GST regime – the government has imposed certain conditions for availing input tax credit on closing stock; not all retailers may make the cut.

Further, for goods lying with the retailers on which excise duty is paid – 100% tax credit will be available only if the excise value is ascertainable by means of invoices, and if not, only 40% tax credit will be available. In most of the cases, the excise tax chain stops with the first stage dealers – wholesalers and distributors. Tax is passed on to the retailers as additional cost, which means that most retailers will never be able to claim the full excise tax credit, as it does not appear in their invoices at all. Ultimately post GST, they will be forced to pass on this cost to their customers, making their prices much less competitive to other players. This is bound to trigger most retailers across the chain to de-stock the inventory during the transition phase and eventually re-stock again under the new GST regime. And once that happens, demand to the wholesaler will fizzle out, leading wholesalers to de-stock as well. However, once the GST era dawns, this could also translate into a steep rise in demand for goods as a result of a widespread re-stocking of goods by wholesalers.

3. Direct channels on the rise, Wholesalers on the wane

As GST inches closer, more and more FMCG and consumer durable players are becoming wary of their wholesale businesses.Sanjiv Mehta, CEO and MD of HUL recently opined that post GST, the wholesale sector will take at least a quarter or more to stabilise – which could lead to the overall contribution of wholesale coming down significantly, compared to direct coverage.

This is because GST will cause disruptions in the core behaviour of a wholesaler – bulk transactions; selling purely on cash basis; not giving credits and using the same to maintain liquidity in the business; operating on thin margins, and so on. As discussed earlier, GST will see more wholesalers stepping into the tax bracket – which will entail not only efforts but costs as well. With their already thin margins becoming thinner still, their sheer survival will be in question. At the same time, their survival is of extreme importance to the principal manufacturers, who need them to service the long tail of retailers and kirana shops in both urban and rural areas.

However, if that needs to happen, manufacturers will need to support the sinking wholesaler by pumping business benefits – in terms of further reduced pricing, increased commissions etc. However, the effort required on the direct distribution channel will be much less – as most distributors, would have already started working with the respective manufacturers and invested in the right technology to become GST compliant – for their own sake. All this, could gradually make wholesaling a more expensive deal compared to direct distribution, and thus most manufacturers – especially of FMCG and consumer durables – are sure to extend their direct reach, wherever feasible, in a bid to become more cost-effective.

In short, while wholesale is still important, the post-GST period could see a major spike in company owned direct outlets and more penetration of distribution channels. This will also be good news for the more organised modern wholesale players such as e-commerce and cash & carry outlets – who will easily trump the unorganized supply chain, cracking under the pressure of GST compliance.

4. India – an open market for Wholesaling

Typically, the current indirect taxation regime in India has driven supply chain decisions of businesses. More often than not, supply chain models have been designed keeping in mind the tax liabilities, multiplicity of taxes and costs involved with inter-state supplies. As a result, wholesalers tend to do business with manufacturers within the state, and end up serving the last mile of retailers with a limited product portfolio.

GST is set to change that picture. To begin with, the movement of goods, in the absence of multiple taxes like entry and octroi – will open up business at an all India level. The seamless availability of input tax credit across state boundaries will bring forth increased efficiencies in the supply chain, and allow manufacturers to remain competitive outside their home states as well. While the manufacturer will gets access to a wider base of distributors and wholesalers across the country; for the wholesaler too, it is an advantage – he can now align with manufacturers outside his home state, expand his product portfolio, and make the most of the additional opportunity – to not only generate more sales from existing retailers, but serve more retailers in the same geography.

Conclusion

GST will definitely transform the Indian wholesale market like never before. While there is a fair chance that it could hit them initially in the same way as demonetization did, the benefits of GST in the long run – coupled with their own willingness to become tax compliant, will allow them to not only survive but also garner more benefits in terms of revenue and overall growth.

GST impact: Credit card bill, insurance premium to get costlier

New Delhi: Credit card providers, banks and insurers have started alerting their customers to pay higher tax post implementation of Goods and Services Tax (GST) from 1 July.

Customers currently pay 15 percent service tax for such services. Starting from July 1, 2017 the GST will replace all indirect taxes like service tax and VAT.

Financial services and telecom have been put in the 18 percent GST slab.

Representational image. Reuters

SBI Card has sent SMS to its customers alerting about the higher incidence of tax.

"Important: The Government of India proposes to implement the GST which is likely to be effective from 1 July, 2017. Consequently, the existing service tax rate of 15 percent shall be replaced by a GST rate of 18 percent," the SMS sent by SBI Card read.

Banks like Standard Chartered and HDFC are also sending messages related to GST to their customers.

ICICI Prudential Life Insurance, in email messages to its customers, said premium payable on term policy and fund management charges on a Unit Linked Insurance Policy will attract 18 percent GST post implementation of the new indirect tax regime.

These products currently attract 15 percent service tax.

GST will be levied at the rate of 2.25 percent on premium payment for endowment policy. Currently, customers pay 1.88 percent service tax on endowment policies.

Parliament's historic Central Hall will host a midnight function on June 30 to launch the nation's biggest tax reform GST.

President Pranab Mukherjee, who had piloted the first Constitutional Amendment Bill to bring in GST in 2011 when he was finance minister in the previous UPA regime, will share the dais with Prime Minister Narendra Modi on the occasion.

What to Expect from GST and GST Ready Product?

There are just a few weeks remaining for you to get prepared for the roll out of GST, and out of the many questions you will be asking yourself, ‘what changes should I look for in my system, from my Tax Consultant, or in business processes, in order to better prepare for GST?’, is likely to be at the top of the list.

This article attempts to highlight key expectations and new pain points that are going to emerge in your business due to the upcoming law. These findings surfaced once we refocused our efforts after the constitutional amendment leading up to the GST law. All our work went into identifying new business behaviour changes in order to deliver the simplest-to-use GST solution in the market.

As you already know, GST is based on the concept of invoice matching and it will fundamentally change the behaviour of your business in the following ways:

1. We believe that you will move to a ‘Payment on Invoice Upload’ behaviour

In the pre-GST era; you were able to complete a transaction after receiving an Invoice and making the due payment to your Supplier. You could also take for granted the ability to avail tax credit on the invoice, even before filing your tax returns.

Now with the GST rules, tax credit is assured only after invoice matching is done. The question to ask yourself- how will you bring your confidence that Tax credit is not rejected or it is reflecting incorrect value.

So, this is how we see the process going. First, an invoice will be uploaded to the GST system by your supplier. You will then proceed to check whether all the data in the invoice is correct and matching your records (once the invoice is made available to you). You are likely to make the payment to your supplier only once this has been verified. This way of working may start for a few suppliers to begin with but would become a normal process for all of your suppliers.

Your customers would also expect you to upload the relevant sales invoices before paying you. Therefore, we believe that ‘Payment on Invoice Upload’ will become a common phenomenon.

'Payment on Invoice Upload’ will become a common phenomenon under GST.CLICK TO TWEET

2. You will interact on a much more regular basis with the Government Tax System

In the pre-GST era, interaction with the government tax system was a once-in-a-month or once in a quarter phenomenon for most businesses.

However, the ‘Payment on Invoice Upload’ behaviour in GST will make this interaction more frequent than ever before.

It begins with an invoice being uploaded either by you, your Goods and Services Tax Practitioner (GSTP), or both of you. And in the case where both of you upload, data needs to be efficiently managed rather than being the source of confusion.

You will also start accepting invoices for your purchases and would want a real time status of invoices before paying your supplier. Given all of this, you should prepare to engage more frequently with the Government Tax System.

Prepare to engage more frequently with the Government Tax System under GST.CLICK TO TWEET

3. You will notice a high level of anxiety during the cut-off dates

In the pre-GST era, there was only one cut-off date for the return filing of a Tax type. You would have provided information to your GSTP who prepares and uploads the returns, pay the due taxes, and provide you with the acknowledgements.

Now, the process of upload, matching, missed uploads and tax payment have different cut-off dates, namely the 10th, 15th, 17th and 20th. And on each of these dates, anxiety levels are likely to rise depending on whether your returns are successfully processed or not.

This is because each of us will have hundreds, thousands or even Lakhs of Invoices in a month and the GST system put together will have several billions of invoices to process in a given month. Given that this system is expected to both store and provide information, it will require time to process such a high volume of data and provide results of success or failure based on the GST rules. To design such a solution requires a two-step process; the first step is to receive data for processing from the taxpayer and the second step is to provide results for the received data (also known as asynchronous behaviour).

An analogy to simplify this would be depositing a cheque in a bank account and getting a message that the amount is credited but is subject to clearing. Whether the clearance is successful or not is known to you at a later point in time.

This asynchronous behaviour means that just by uploading information to the GST system does not complete your compliance activity. Anxiety levels will peak towards the 4 cut-off dates as the processing time could take longer. You will expect to be informed about any failures or successes, and you should be informed even if you have closed your system.

4. You will need a system that seamlessly operates out of multiple locations

Almost all businesses operate from multiple locations. It starts with a minimum of two locations; your businesses location and your GSTP’s location. If your business is operating from multiple locations, the operational complexity further increases.
You would be expected to upload a few of the Invoices and invoice matching from each of your locations. Your GSTP will take information from you for and the data from GSTN for already uploaded invoices. Based on this collected information, your GSTP will submit the returns.

It is very likely that all of this is simultaneously operated. Simultaneous operations from multiple locations would need an extremely high degree of integrity & accuracy in Compliance data. Therefore, your ability to seamlessly operate with multiple disparate systems is extremely crucial to ensuring your books and compliance returns match.

5. You will need a system that aids confidence in signing returns

The last step of return filing requires you to download the summary (which doesn’t contain individual transactions) and sign a return. Before you sign, it will be crucial to ensure that nothing is pending and that there is no difference between what you have submitted and what GSTN has sent to you – this will be a challenge.

It is important to be aware that you, your suppliers and your customers could all update relevant sections of information that go in your return. Since the GSTN system is asynchronous, the summation might be in processing, therefore some information won’t be available in summary immediately.

You need to reconcile all the above information together in a system in order to build confidence in signing returns.

6. You need Compliance Convenience to remain focused on running the business

These pain points are likely to cause a lot of confusion in your business. In fact, if not managed well, it can keep you busy for a significant period of time and potentially even distract you from running your business.

You would desire to have “One Simple Transparent Step” to accomplish all the pending activities related to the GST system. And bringing this Compliance Convenience would be Tally’s objective, so that your focus remains in running the Business and it being GST Compliant.

Please share your thoughts on these SIX changes in business behaviour that GST will bring.

Our next article will cover the role of the Goods and Services Tax Practitioner (GSTP), who will be more critical than ever before to your business. This will be followed by another article on how our SIXTH Release of Tally ERP 9 will make these SIX behavioural changes simpler for you.

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