NOIDA: With the Goods and Sales Tax (GST) regime all set to roll out from July 1, the Federation of Trade, Industrial and Jewellers Association, Gautam Budh Nagar (FTIJA), an umbrella body of traders and jewellers in the twin cities, will start a series of workshops for traders and market owners across Noida and Greater Noida this week.
Titled, ‘GST Ki Pathshala’, the series aims to educate traders and market owners about the benefits of GST and the adjustments that they will have to make during the period of roll-out. The workshop is also designed to address concerns of traders from at least 50 markets across Noida and Greater Noida.
“The GST regime is all set to usher smoother transactions. In these workshops, we will explain how businessmen of different categories are going to benefit from GST. Small set ups that earn a turnover of less than Rs 20 lakh are exempted from GST; but those who fall under its regime should know the subtle details of utilising various benefits and concessions in the regime,” Sushil Kumar Jain, chairman, FTIJA, said. Jain claimed that the traders could significantly increase their profitability by implementing the GST norms in their business.
“The mid-level businessmen are yet to understand the practical consequences of the GST implementation,” Jain said and added, “For those traders still struggling with the filing of VAT and who are now trying to shift to the GST platform would benefit from these workshops. Even exporters will get special relief under this system. We will also try to find the problems of the traders and float their concerns at the national level,” Jain added.?