Online GST support for MSMEs launched by SIDBI-FISME

gst-fisme-07-7-17-300x206SIDBI –FISME launches 360 degree support system for MSMEs in adopting GST

To assist MSME entrepreneurs who are grappling with GST implementation challenges there is a good news.

An online support system is launched today with help of which entrepreneurs can have access to expert free advice on GST using either a toll-free number 1800-11-3585 or email. The answers to queries will be displayed on portal

The service was launched by Shri S. N. Tripathi, Additional Secretary and Development Commissioner (MSME), Government of India in Lucknow today.

Shri Tripathi also launched a Guide for MSMEs on GST.

Shri Manoj Mittal, Deputy Managing Director SIDBI mentioned that even after end of a working week, these MSMEs are yet to fully understand the nuances of the GST.

At this juncture the initiative of SIDBI –FISME will surely be a welcome step. To provide an all pervading support environment, it offers a Helpline supported by an  highly informative web portal, Mittal said.

While the GST Guide answers the FAQs, the online support answers specific questions, he said.

Elaborating the uniqueness of the initiative, Mr. Dinesh Tripathi, President FISME said that while the Guide helps in enhancing the conceptual understanding of GST among MSMEs, the online support assists in resolution of implementation issues.

During the year long campaign run by  SIDBI – FISME to create awareness about GST, large number of questions were posed by entrepreneurs, the initiative is an effort to address  these questions, Bhardwaj said.

Earlier in his welcome speech Mr. Manish Goel President Indian Industries association, Lucknow, Keeping in view of India’s size, its diversity and complexity, a change in
indirect taxes involving both the Center and the States was never going to be an easy affair. A full GST regime similar to the one being attempted to be put in use here has not been tried anywhere in the world.

It is but natural to be apprehensive about a step this big. The challenge is how we can overcome the fear and exploit the opportunities that the new regime would offer, Goel said.

Mr. Anil Bhardwaj, Secretary General of FISME, and author of the GST Guide highlighted that GST was a  transformative business process reform and  it would impact both the structure and the dynamics of doing business in India.

Its impact is likely to be similar to that of the dismantling of the external trade barriers in 1991and  now with the removal of barriers on internal trade, it is estimated that India’s internal trade could see a massive expansion, he opined.