Director, Technocrat Infotech
As we are in the IT industry so we had a high expectation with regard toGST. When everything will become digital, the requirement for computers, printers, etc will rise. Initially, the demand was there. As everything is in black and white so business will also grow as the grey market will not be there and everything will be in shape.
For a particular product, we are paying 18% GST. So our investment in business has increased, but our total turnover on selling the particular number of products which we used to sell last year has come down. Another challenge is that we are facing infiltration from the other parts of the country. All the IT products should come under the same tax slab. Previously, mobile has a different tax structure. Some attracted 5% and others 14.5% tax slab. But after GST all mobiles whether it is feature phones or smartphones, come under the12% tax slab.
See What’s Next in Tech With the Fast Forward Newsletter
Tweets From @varindiamag
Nothing to see here - yet
When they Tweet, their Tweets will show up here.