What has been the impact of GST on your customers? How are your customers coping with multiple GST slabs, tracking of invoices and movement of goods across state borders?
As any new process the transition has been painful. However, the fact that the government is sympathetic as well as responsive has made the transition easier and the fact that India has jumped 30 places upwards in the ease of doing business is a clear vindication of the government’s policy. Movement of goods has become much easier as well as more economical and the medium term impact will be hugely positive, so we hope.
Do you believe it’s in our best interest that all our (printing and packaging industry) the tangible products are covered under HSN (Goods) so that there is a greater chance of coming under the manufacturing sector and acquiring industry status?
Yes. I firmly believe that this split of making the printing ‘as a service’ by the end user supplying the substrate is only making matters complicated and leaving doors open for interpretation and hence future disputes. A simple, one rate slab on printing and packaging (all tangible products) and in fact even in the process of creating digital content should be covered under one HSN code and taxed uniformly.
The Ministry of Finance issued a Notification No 31/2017-Central Tax (Rate) dated 13 October 2017, which formalised the decisions regarding the GST rates at the 22nd Council meeting on 6 October 2017. Is there clarity, finally? Please name one thing on your wish-list for the government.
‘One Country, One Rate, One Tax’ seems too simplistic, but remember all successful innovations have been towards simplifying our everyday life. So why should government action be any different.
Latest Poll: GST hopes to change the indirect tax structure in India. Is GST working thusfar?
GST will be beneficial in the long run: 27%
Good law, poorly implemented: 30%
Small firms face a compliance burden: 15%
Multiple slabs, invoice matching and glitches in the GST Network are a pain: 20%
GST is a uniform and simple tax regime for India 8%