Govind Ram, who has been employed as 'Accountant' in textile trading unit in Delhi for over 3 decades, is due for retirement in 2 years. He sacrificed his comforts and struggled hard to raise his children, a son and a daughter, both grown up now. “I planned to marry off my daughter before my retirement,” says he with a dulled look and his woes come out, “but it's a difficult time now. I may be out of job soon because someone well-versed with computers and accounts software will replace me.” Thanks to GST”

Govind Ram is not alone facing this dilemma. There may be thousands and thousands across the country who will be paid in this manner for their decades old loyalty. According to estimates, the textile trade which largely falls in the micro sector, employs over 50 lakhs people across regions. The new indirect tax regime is likely to seriously impact the trading community.

What the Government missed out on is a simple realisation about the inability of small and micro traders to effect transition from cash registers to keyboards. The pertinent question is if the micro traders are in a position to employ or learn computer skills and hire the expensive services of the chartered accountants?

Today, the MSMEs sector suffers from the problem of delayed payments from the corporate. The maximum period to pay tax under GST is 180 days – the period more often than not is flouted by the large sector for answering bills of their suppliers. GST and its rules and regulations must not act in isolation.

Whereas by and large, it is conceded that long-term benefits of GST would fill up the financial deficit by increasing the indirect tax net besides that the new tax regime will bring a great relief to the inflation-hit consumers. There is no denying that GST is sure to build up a cult of good business practices.

Indian economy is on the march. Minor irritants need to be unblocked at the earliest.