Is India Inc prepared for GST roll out?

With less than a fortnight to go for the roll out of goods and services tax (GST) bill, there have been conflicting views on the preparedness of the corporates. While the Confederation of Indian Industry (CII) has reiterated that corporate India is ready for the one nation, one tax reform, the other industry body, Assocham, has demanded postponing GST implementation.  The GST Council, on its part, has relaxed return filing rules for businesses in the first two months. In the run up to July 1 when the GST comes into force, Business Standard spoke to leading market experts on their views about the GST, its implementation and the likely impact on the economy, corporate profits and markets. Commodity Trading Tips

I don’t think India Inc is ready for GST. When we meet the big companies, they seem ready for the transition. It is the small companies and PSBs that are not ready. Even if the government delays implementation, companies will never be fully prepared for the impact. Therefore, it is better to implement it from July 1. I don’t think anybody or any company can truly prepare properly for GST, beyond implementing the relevant systems and processes. Nobody that I have met can fully comprehend the impact of GST on working capital cycles and pricing. Clearly, the compliance burden will be felt far more keenly by small and medium enterprises (SMEs) which don’t have large finance and IT teams to deal with a scale of this magnitude. Nifty Trading Tips