Expectations and concerns relating to GST

We conducted a survey amongst 200+ industry leaders from the supply chain & logistics industry to understand expectations and concerns relating to GST

Key Expectations from GST

Approximately 30% of the survey participants are looking forward to convenience, ease and simplification of processes rather than tax efficiencies, which are more of a long term concern. The survey result participants are excited by the idea of simplification of the process and flexibility of operations.

Chart 1 – Top 3 expectations from GST

gst-chat1

Percentages represent proportion of respondents who rated the factor as one of the top 3 expectations


Concerns

Stakeholders are focused on vendor compliance and process related clarifications. Furthermore, they are concerned about their team’s capability to adhere and adapt to changing circumstances, as well as issues such as API integration and flow of e-way bills.

Chart 2 – Top 3 concerns related to GST

gst-chat2

Percentages represent proportion of respondents who rated the factor as one of the top 3 concerns


Problem Solvers

Stakeholders are relying on improved technology and intensive training to help them overcome immediate teething issues. Companies expect training and IT partners to help in compliance with GST documentation, efficient and accurate tax filing & reconciliation reports and adherence to compliance to enable tax credibility.

Chart 3 – Top 3 initiatives to overcome the challenges

gst-chat3

Percentages represent proportion of respondents who rated the factor as one of the top 3 initiatives

 

Disclaimer: The views expressed in this article are those of the author and do not necessarily reflect the views of ET Edge Insights, its management, or its members

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