The Indian Chamber of Commerce and Industry, Coimbatore, plans to have a series of programmes on Goods and Service Tax (GST) so that entrepreneurs in each sector will know in details about its impact on their business. With the Lok Sabha and the Rajya Sabha passing the GST Bill and the country at the cusp of a major tax reform, industries are gearing up for the change.
Textile Industrial associations are inviting experts to speak to their members on the impact of GST on the respective sectors.
With the GST expected to come into effect from the next financial year, such programmes will only help industries, across sectors and irrespective of the scale of operation, gear up for the new tax system.
Experts will throw light on the tax structure, the likely system of implementation, its benefits to industries, and the processes that the companies should follow, and areas where they might be affected. However, Industries that are in the unorganised sector and have evaded tax will be hit.
– Apparel Talk, Indian Apparel