GST 2.0: Big cos step in to help smaller vendors

WITH the rollout of GST 2.0 on September 22, smaller vendors across pharmaceutical, textiles and fertiliser sectors, who are likely to face challenges due to accumulation of input tax credit (ITC), have sought help from the larger players.

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While several larger players are beginning to extend a helping hand, offering support through credit facilities, smaller firms expect more cushioning from corporates and the government. Smaller players are seeking help from larger counterparts for faster clearance of payments and hasslefree refund process. "Larger players in pharma sector can play a key role in supporting smaller companies through knowledge-sharing and collaborative models. Assisting with GST, ITC, and general business financial strategies, we can help smaller players alleviate some of compliance burdens. Larger p