1st July 2017 GST rolled out in our economy with a motive of one country one tax. The main motive of implementation of GST was to ensure that more people come under the tax slab and erode the black money from the economy. While big company easily get to GST due to various dignities associated with them and huge amount of fund available with them. In such a rush of implementation our government overlooked the small retailer. The government authority told it’s a very simple tax system and can be easily done by the retailers but the real pitcher was completely different.
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The owner of these small retailer are not well educated they are only concern with the plus and minus, the percentage goes above their head. They were the most effected segment of the economy after implementation of GST.
Hearing from here and there the only solution was to adopt GST and go for the E-bill but for that they need a computer in the store and as mentioned above many retailer not well educated don’t know how to operate it, so further the need to appoint a operator for the same who has well knowledge of not only computer but of business and account. The need gave rise to a huge expense for the retailer for the initial investment in computer and software and the salary for the operator who will be working on it. Already there is such a huge competition in the market due to which the margin i.e the profit of retailer already reduced and now this additional expense was a nightmare for the retailer.
This was not the end of expenses, being such a complicated tax calculation and payment system it was impossible for the many retailer to learn and make the payment therefore the further expense was bearded to appoint a CA who will be going to do this task for them. It was the time when so much expenses were bombarded on the heads of retailer that some of them were thinking to close down the business also.
Yes the step taken by the government was correct because black money was the major hindrance for our country development but the time was not correct to implement it, rather they should have first taken steps to ratify their own system of functioning and using the current tax in more efficient manner.
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