'GST is drawing Indian businesses into the digital economy'

Chandrahas Panigrahi, CMO & Consumer Business Head, Acer India

GST aims to completely restructure the indirect taxation of the world’s fastest growing economy and will be administered together by centre and states. Not only it will help in mitigating the cascading effect of taxation but it will also  reduce fraud and increase efficiency within the government tax machinery. GST will also help in the creation of a unified national market that will help in ease of doing business as corporates do not have to make different tax proposal for different states. 

Under the GST regime, exports will be zero-rated in entirety unlike the present system where refund of some of the taxes does not take place due to fragmented nature of indirect taxes between the centre and the states. GST is largely technology driven and will reduce the human interface to a great extent thereby improving ease of doing business in India.

“The introduction of the new tax reform is drawing Indian businesses into digital economy, which is further pushing traders and business owners to brace IT infrastructure, in order to fulfill the compliance needs for GST. With the implementation of GST, we see the graph of PC sales going higher in the coming months. From the past couple of months, our team is working towards developing GST-enabled machines; we have also introduced a range of desktops, laptops and AIOs, which are GST ready. We see this as a huge opportunity to assist small businesses and trades in adopting this change and growing with economy by utilizing technology at its best,” says Chandrahas Panigrahi, CMO & Consumer Business Head, Acer India.