With GST, inter-state movement of goods has become easier. E-commerce enterprises can deliver their products on time without any delay, which will inspire more consumers to buy products online.
Goods and Services tax (GST) is an indirect tax levied on the sale of goods and services and it has replaced almost all indirect taxes in India. After the liberalisation of the Indian economy in 1991, GST is considered one of the biggest economic reforms in the country’s indirect tax structure. GST is having an impact on every sector and e-commerce is no different. The e-commerce industry is growing at a rapid pace, with the emerging space including giant players, small enterprises and individual sellers who sell their products through these portals. However, it involves two types of players predominantly – the marketplace and sellers. GST’s impact is on both types of players.
How GST is benefiting the e-commerce sector Doing business is easier: Starting your own venture has become much easier with the introduction of GST. Entrepreneurs don’t have to go through the hassle of getting VAT registration and clearance on entry taxes. The biggest hurdle was the different taxation system in each state; with GST, this problem has been solved. These changes have made it much easier for entrepreneurs to start their own ventures, giving the much-needed boost for the growth of start-ups in the country.
This story is from the April 2018 edition of Progressive Grocer.
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This story is from the April 2018 edition of Progressive Grocer.
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