The trade and industry has raised their concern over the Kerala Government's decision to collect Flood cess from June 1, saying that it will have an impact on retailers, who deal in commodities which are competitively available in the online portals.
Madhusudan Gupta, president of Indian Chamber of Commerce and Industry, said that the retail trade fraternity which had lost a lot of business during the flood is yet to recoup and come out of the flood situation and as a result of which 20-30 per cent of its business was already down.
At present majority of the traders and companies work on accounting software and systems especially for GST compliance. It will take at least 15-20 days to make the requisite changes and integration in the software with regard to the collection of one per cent cess, he said.
The notification has been published only on May 27 leaving hardly any breathing time to integrate the required changes in the software. Especially since the cess is applicable only to Kerala and majority of softwares are developed on a pan India basis, he added.
Comments
COMMENT NOW
Comments
Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.
We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.