Senior Correspondent, IndianRetailer.com & Retailer Magazine Jun 19, 2017 / 2 MIN READ
Industry body CII said India Inc is ready for the GST implementation from July 1, as the new indirect tax regime will contribute significantly towards economic growth, job creation and exports expansion.
Chandrajit Banerjee, Director General, Confederation of Indian Industry, said, "GST has been finalised after a collaborative and consultative approach and we look forward to its introduction."
He added, "...GST is the most significant indirect tax reform introduced in the country since independence."
CII is organising over 100 workshops across the country to enable enterprises to comply with the new regulations.
The workshops are expected to reach out to around 5000 enterprises.
Further, a helpline has been established where participants can request for clarifications.
The industry body has also launched an awareness campaign to inform industry about the processes related to Goods and Services Tax (GST).
Unlike previous drives, the jurisdictional officers now have the authority to not only verify but also suspend licenses during this campaign.
The company has completed two such programmes in Ludhiana and Hyderabad, which was attended by its 76 supplier partners
These pop-up service centers will educate sellers across 11 cities and help them transition seamlessly through GST.
As per the amendments, there won't be dual MRP (maximum retail price) on the products. Secondly, it has been made compulsory to increase the prevailing text size by minimum one and half and maximum double on the products about important details like- name
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