GST will bring transparency in business, ease taxation: Experts

GST will not only ease the process oftaxation, but bring in transparency, say experts.At an interactive awareness programme for start-ups here,the experts said the government is expected to resolve thequeries of entrepreneurs regarding GST.

“GST will not only ease the process, but also bringtransparency as all the invoices needed to be uploaded bysellers are visible to the buyer every month,” said ManishOjha, Development Head of KDK Softwares Pvt.

CEO Mohit Bhambani said many start-ups are into e-commerceand their logistic costs go up, with 11 categories of taxeslevied on the road transport sector.

Referring to a report of Crisil, Bhambani said GST canreduce logistics cost of companies producing non-bulk goods byas much as 20 per cent.

At present, he said various road permits are requiredunder state CST rules and also declaration forms for availingof lower taxation rate.

“Likewise, many such hassles will be removed for ease ofbusiness operations,” he said.

Several startups attended the session organised by thecity based incubation centre Startup Oasis and KDK softwares.