Defer India GST to 1 September 2017
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We all are aware that GST will be implemented in India effective from 1 July 2017. We all agree that GST will be helpful for trade and business as GST will allow seamless input tax credit of Indirect Taxes, reduce compliances under multiple Indirect Taxes levied by Centre and State and many other benefits. While we all support GST, very little time is provided to trade and business to implement GST. Successful implementation of GST requires substantial changes in IT Systems, business processes, human resources and other processes. Though draft law was issued in 2016, final law and other rules issued recently which has provided very little time to business to understand the new law, identify and implement requisite changes. Hence, I kindly request Honourable Prime Minister and Honourable Finance Minister of India to differ GST to 1st September 2017. Same will help to implement GST in more organized and fruitful manner and will provide critical time to trade and business to be ready with GST. However, if GST will be imposed from 1 July 2017, same will be negative for industry as haphazard implementation will not be welcomed by industry.
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