New Delhi, July 13 (KNN) With the goods and Services Tax (GST) to enter the third week soon, industries in the northeastern region of the country, comprising of more than 90 per cent of Micro, Small and Medium Enterprises (MSMEs), continue to face issues in adapting the new taxation REGIME.

Talking to KNN, R.S Joshi, Chairman of the Federation of Industry and Commerce of North Eastern Region (FINER) informed about the situation.

He said that the majority of the units in the region are the MSMEs. For a big firm GST is an easy thing to get into as they can hire professors, CAs and experts. But for a unit operating on a micro or small scale, it is not possible to avail the services of the high-charging professionals.

Giving insights of the problems the sector is facing with regard to GST, Joshi said that the primary concern in the first week was registration. Almost 90-95 per cent of the firms have finally got themselves registered with the GSTN.

As the new policy enters the second week, there are doubts over the method of billing. The MSMEs are confused if the billing has to be done electronically or manually. Though industry bodies including FINER is trying to address these concerns, there are units that still do not have the access to necessary information.  

Joshi informed that the industries are also seeking clarification with regard to the movement of goods under GST. Since eWay billing is to be done, poor internet connectivity and lack of IT infrastructure is a big concern in the region.

He further informed that there are fresh notifications coming in every day, while the industry is struggling with the compliance itself, newer notifications adds to the burden in understanding the new taxation.

Joshi however acknowledged the support from the government officials in this regard, he further appeals for more GST awareness programs and campaigns for the region. (KNN/ DA)