Day 1 of GST in Mumbai: Traders still unclear, but business as usual for buyers
The first day of the new tax system in India has witnessed confused merchants and Mumbai Accountants flooded with requests, but it was as usual for buyers.
The Center implemented the goods and services tax (GST) at midnight. The single tax system, known by many as India’s largest tax reform, seeks to unify multiple taxes across the country and stimulate economic growth. But the launch came with its problems.
Traders said they were unaware of the deal. “As it was just the beginning, there was a lot of confusion among traders. We addressed the problem with the government,” said Mohan Gurnani, president, Maharashtra Industry and Commerce (CAMIT).
While hotels and restaurants have switched to the new billing system Friday night, the owners of this new tax has no impact on tread Saturday. “We can feel the impact Monday because it is a weekend,” said Arvind Shetty, owner of Utsav hotel in Juhu.
The wholesale open-knit markets with little fanfare. Places like Mangaldas and Swadeshi market, traders recently went to protest against the GST strike, said the new tax would not help.
“There is a great misfortune among textile traders, as this will affect the health sector,” said Raichand Binakiya, coordinator of the joint action of textile trade. Under the GST, the price of textiles to increase by 8% to 10%.
Stainless steel utensils and markets fell. “There is no sale and even you are confused about this new tax,” said Sunil Parmar, owner of S Kantilal and Sons.
The counters were a bunch of buses Saturday. “Our customers wanted to know how to change the billing model, marketers have complained that their software has not been updated,” said Mukesh Panchal, the owner of an accounting firm.
However, the malls have a good deal, because many of them stayed open until midnight.
The State acknowledged that there was confusion but said it was equipped to deal with the situation. Rajiv Jalota, the Sales Tax Commissioner, which will not be Commissioner GST Maharashtra, said: “We are creating help lines and organizing seminars to make technical and technical details available.”
Chief Minister Devendra Fadnavis must inform public accountants and distributors at an event organized by the Institute of Public Accountants of India (ICAI) in Matunga Saturday evening.