New Delhi, Aug 4 (KNN) With one month into the Goods and Services Tax (GST), the Micro, Small and Medium Enterprises (MSMEs) are worried about the Reverse Charge Mechanism, also there are apprehensions over the eWay bill that is to be complied with under the new taxation, Vidarbha Industries Association informed.

Talking to KNN, Atul Pande, President of Vidarbha Industries Association explained the implications of the new tax regime upon the completion of its first month.

He informed that while the MSMEs in the region are starting to understand the compliance norms under the GST, there are two set of concerns with regard to the One Nation One Tax policy of the government.

Citing the external issues that surround the MSMEs, Pande said that the norms in GST aren’t very easy to understand. Not only do the MSMEs find difficulty in interpreting the norms, even CA’s are often facing the issue.

He further informed that his association has been conducting weekly meetings where MSMEs and CA’s sit together to explore the unanswered queries and take them forward to the government officials.

Citing the internal issues, Pande said that the lack of I.T infrastructure is a big concern for the MSMEs in the region. While many of the micro and small units have the software such as Tally installed, it will take a lot of time for the entire sector to become digitally literate in order to take care of the digital involving and filing under the GST.

Also the MSMEs are facing issues in registering with the GSTN, often there is problem on the server because of which they aren’t able to complete the registration.

Pande informed that the MSMEs are worried about the reverse charge mechanism, and the fears around it will be addressed only once the enterprises file their first return under the GST.

The MSME body further raised concern over the eWay bill norm under the GST as it will be difficult for the MSMEs to understand the eWay bill that are already struggling to understand GST.

He however emphasized that the current problems are temporary and the GST is a good move in the long run. (KNN/ DA)