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Goods and Services Tax

Are consumer goods firms prepared for GST regime?

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“Big firms are ready with the IT infrastructure and back-end starting from invoicing, documentation and taxation. But, most of the small and medium companies and vendors that form the distribution and supply-chain for the bigger firms are not ready. Some are finding it difficult because they don’t have an IT system in place and cost is a factor for them. Adding that most of the big companies have extended help to their vendors on this and some of the big vendors may be ready for the GST rollout."

Krishan Arora
Partner, Grant Thornton India LLP

This article appeared in Live Mint on 3rd March, 2017.