08 Nov 2017
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?GST has impacted positively for the customers and in some cases, it has also helped in realising taxes which were earlier being provided by the printer, as the selling price remains the same. After GST in the cases of cash sale for some small jobs, the printer is charging the tax (GST) to the consumer which earlier was provided by the printer. The customers are happy since all the systems would be made accountable and shall bring all the industry on the same platform. On the slabs, over a period of time most of the customers have settled on a slab and the movement of the goods is also smooth. 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?Having an industry status over a long run and recognising printing as a manufacturing process. This shall help fellow printers source funds for expansion and growth. 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. Have one rate for all applications and printing should be put under a lower category, including the raw material like paper.
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%
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