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GST Impact - Page: 2
"Post demonetisation, the growth of digital banks in India has contributed actively to the rise of digital transactions"
With increasing documentation under the GST, many SMEs are finding it difficult to focus on productive work, being overburdened with the regulatory work of filing taxes
GST is helping new start-ups evade a series of documentation pertaining to VAT, Excise Duty and Service Tax
Overall, about 80% of the large business merchants were ready for the GST on the D-Day, while about 60% of the small or midsize business owners were ready.
Ground work being laid for the eventual elimination of the paper invoices
The sector is considered as multi-dimensional and value-added activity, including production, time and control of elements of the supply chain
Post GST, being compliant is necessary for every business owner
The SME sector has raised INR 660 crore in the first six months of the year
In today's cut-throat competition among increasing number of fintech start-ups, the challenge is also to stay relevant
GST requires a synchronization between tax payer's application, an invoicing software, and the GST system, which without automation would be a rather difficult task