Series of lessons on GST for twin city traders

Noida: With the Goods and Services Tax (GST) regime set to roll out from July 1, the Federation of Trade, Industrial and Jewellers Association (FTIJA), Gautam Budh Nagar, an umbrella body of traders and jewellers in the twin cities, will start a series of workshops for traders and market owners across Noida and Greater Noida this week.

Titled, ‘GST Ki Pathshala’, the series aims to educate traders and market owners about the benefits of GST and the adjustments that they will have to make during the introduction of GST. The workshop is also designed to address the concerns of traders from at least 50 markets across Noida and Greater Noida.

“The GST regime is set to usher in smoother transactions. In these workshops, we will explain how businessmen of different categories are going to benefit from GST. Small set-ups with a turnover of less than Rs 20 lakh are exempted from GST; but those who fall under its regime should know the subtle details of utilising various benefits and concessions in the regime,” Sushil Kumar Jain, chairman, FTIJA, said.

Jain said the traders could significantly increase their profitability by implementing the GST norms in their business. “The mid-level businessmen are yet to understand the practical consequences of the GST implementation,” Jain said.