Experts from Noida share mixed reactions on GST!
Ashish Kedia
Jitendra Pal
Goods and Services Tax (GST) is going to be implemented from July 1 and there is still a lot of confusion among business owners and traders in regard to this law.
Keeping this in mind we spoke to several eminent individuals of Noida, who had mixed reactions on GST.
NEA President Vipin Malhan said,”GST has been declared long ago and now it is going to be implemented from July 1st. However even today when we speak about it to government officials, 60% of these people can’t answer our queries. Hence there is a lot of confusion in this regard”
Speaking about its benefits he said,”Tax slab will now be uniform through the country so it is kind of an advantage for traders”.
Vipin Malhan also had a word of advisory for the business persons as he said,”Traders should not panic, every new thing creates some confusion but I am sure government will sort it out”.
Advocate and Tax consultant Abhinav Kalra said,” It is now expected that GST will roll out from July 1. People are having mixed reaction on the same. Some sectors may have a slow phase after implementation of GST but it will slowly become fine”.
He further added, “The positive thing for traders is that previous to GST there were many taxes on the products which would be applicable even before the product arrives with him. After GST there will be a change in it and both traders and consumers might get benefit of this. Stock transfer will also come under tax hence there will a little blocking of working-capital which can be cited as a slight negative impact of GST”.
Talking of service sector he informed,”Service tax as of now is 15% which will be increased to 18% after implementation of GST so yes there will be this little addition of load in this sector”.
Former President of Bar Council Arvind Kalra said,”GST is a very fine taxation law which will also increase the GDP. I hope this will bring much required uniformity in the nation”.
Being an experienced tax-expert Arvind Kalra also suggested government to focus on making its infrastructure better before rolling out GST, he said,”In August 2016 government asked for migration. The site has crashed many times and till date the official website doesn’t looks ready to take load of the demand. Hence GST infrastructure is certainly something that government needs to work into”.
Advocate RP Yadav Said,”GST is a very beneficial tax law. One Nation one law is certainly a very progressive step. Now traders can purchase from anywhere in the nation and take benefit of this law. Consumers will benefit heavily from this taxation law”.
For impact of GST on small traders he said, “In rural areas the traders aren’t much in touch with technology or computers. Because of this there is some confusion but I am sure with time it will sort out itself”.
Advocate Nitin Yadav said,”GST is very progressive law. There is compounding scheme for small traders and business persons”.
Nitin Yadav also had a word of caution for all he said,”There was also a confusion when VAT was implemented. Same is happening with GST but I want to assure all that this is an excellent law and there is nothing to fear about in this”.
Naresh Kucchal, district president of Uttar Pradesh Vyapaar Mandal said,”GST is being implemented without preparedness. This shouldn’t be done in such haste. If financial year has to be changed then both these things should have been done together. I also don’t think there will be any benefit for any business man through this law’.
He further said, “I also want to question government about timing and method of this tax structure as well as its way of implementation. How can we make everything online when most of Indian business persons and traders from rural areas are so unconnected from computers and digital modes”.