CAIT signs a MoU with Tally Solutions to train and educate non corporate sector on GST compliance and adoption
In its bid to train & educate the trading community on GST compliance and its seamless adoption, the Confederation ofAll India Traders (CAIT), in association with Tally Solutions Private. Limited (TSPL), a premier Indian software product company, will launch a nationwide campaign to help traders across the Country, understand the impact of GST ontheir business. This collaboration is with the aim to raise awareness of the procedural compliance under the newtaxation system and how traders can embrace technology for easy compliance of GST. GST is a technology ledtaxation system with an inbuilt e-compliance fundamental in its design. However, majority of the country’s tradingcommunity are yet to adopt computerisation for maintaining books and filing tax. In this light, the joint initiative of CAIT & Tally Solutions to spread GST awareness, with proper adoption of technology is a significant step in thesuccessful adoption of GST in India in trading community and non corporate sector of the Country.
At a Press Conference held today at New Delhi, CAIT National President Mr. B.C.Bhartia & Secretary General Mr.Praveen Khandelwal, while announcing CAIT’s partnership with Tally Solutions said that the GST taxation systemis entirely different from current taxation system. It will lead to the merger of Excise, Service Tax, VAT and othertaxes under GST, coupled with its e-compliance in totality, it is all the more necessary to equip the traders and other verticals of non- corporate sector with adequate knowledge about the procedures and compliance formalities underGST. CAIT has join hands with Tally Solutions to impart technology knowledge in this joint initiative and intends toempower and equip the trading community about importance and acceptance of digital technologies, which isexpected to drive future course of small & medium sized businesses in India.
Both Mr. Bhartia & Mr. Khandelwal said that future mode of business in the Country will largely be conductedthrough electronic payments and with introduction of GST, the tax will be deposited through either credit card/debit card, NEFT or RTGS only. There will be no Cash or Cheque and tax returns, claiming of input credit, communicationbetween traders and tax department and other incidental activities, all activities will be conducted digitally. Therefore,it is imperative that the traders and other sectors adopt technology and understand procedures of compliance. Ata time when the Government is moving towards e-governance, the businesses cannot remain aloof from technology.
Speaking at the conference, the MD of Tally Solutions, Mr. Bharat Goenka said “In the last 30 years, we at Tallyhave been proud of building the simplest and most advanced technology solutions to help traders across the country grow their businesses. And with GST, the need for such tools becomes critical for businesses to adopt. It is ourduty to help such businesses transition smoothly, and with this partnership, we believe we will be able to reach out to trading community at large and help educate them on the law, its implications, and how they can transitionsmoothly with the necessary technology tools.”
In their joint campaign, CAIT and Tally Solutions, would be reaching out to over thousands of tradeassociations, Federations & Chambers across the Country and will also involve national organisations of differentverticals from the non-corporate sector. The idea is to train Master Trainers countrywide who in turn will train tradersin their respective states. CAIT and Tally Solutions plan to conduct their first GST Conferences across tier 1 andtier 2 cities in India, gradually spanning to cover even the smallest hubs. The partnership will aim to educate and train the trading community of India on implications of the new law on their respective businesses and help members understand the importance of technology adoption in this new era.