Jun Taki

 

ITANAGAR, Jul 1:

At the stroke of midnight, the country switched over to GST (good & services) regime, and understandably so across the capital complex apprehension and confusion seems to rule the roost among the business community regarding the new tax system.

While all the major business houses are migrating to the new system, uncertainty looms over small business houses and traders who are struggling with the different tax rates for different items and services, with an apprehension that the transition will bring more pain in running their businesses.

When asked about the new tax system, D. Barman, owner of a Jewellery shop at Akashdeep, replied “I have seen people discussing it on TV, News Channel, advertisement in newspapers, but I am still confused what is it exactly or purpose in implementing it. Some close friends informed me that prices of gold, silver etc will be raised as per the new tax system.”

Barman was apprehensive that rise in prices may cost him more customers over the next few months.

While another Grocery shop owner, Sushil Batheti responded positively on the move saying that the new tax system would make him do his business with ease and less hiccups.

Batheti who deals in a vast variety of products, including cosmetics and grocery items revealed that earlier they had to pay two different taxes to the state government and distributors in Assam.

 “There is no doubt that the GST Law will resolve many challenges faced by the business sector and will push the sluggish sector out of its long slumber and lead to greater transparency. But we need to wait few more months till the Goods & Services Tax system has been fully evolved,” he added.

Terming implementation of GST, a major breakthrough in the Indian taxation system, proprietor, (Technology), Tuwel Ahmed who runs a mobile outlet at E-Sector said that it will take him at least 1 or two months to clear his existing stock before he can sell mobiles at GST rates.

 

Ahmed said there is much “confusion”. “We don’t know what rates will be applied to the new stock and how it will impact our margins as there is no regulations on process prescribed to them by government or manufacturers.

“Being a new tax, it will take some time for the people to understand its implications. Much like the initial heartburn caused by demonetization it would trigger some momentary disturbances but will prove helpful in development of economic condition of country in long run,” he added.

“Sooner or later the people will realize that the Revolutionary step taken by Modi is going to boost economy of the country,” further added Ahmed.

While few seem pleased with the implementation others are facing lots of problems in understanding GST. Few shopkeepers on the other hand are sweating over profit margins and raised question over its short and long-term impact.

Leading the shopkeepers, another proprietor cum owner of Wholesale grocery shop at Ganga Market, SK Hoda termed the new tax law as a “complete blunder”.

Clearly frustrated, Hoda informed that earlier the government gives them 15 days time to pay their taxes, but now under GST, he said they have to pay taxes in advance, thereby directly raising their investments.

“We are just puppets in the hands of the government; whenever they get bored they start playing with feelings of common shopkeepers like us and move is directly or indirectly just to harass us,” he added.

“GST” may bring the prices of basic commodities down, but it is surely going to have a long-term impact on common people as it has also increase the service tax in other sector, he further added.

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Kenter Joya Riba

(Managing Editor)
      She is a graduate in Science with post graduation in Sociology from University of Pune. She has been in the media industry for nearly a decade. Before turning to print business, she has been associated with radio and television.
Email: kenterjoyaz@easternsentinel.in / editoreasternsentinel@gmail.com
Phone: 0360-2212313

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