As the GST era is approaching, the government has started its preparations to help the country adapt to new policies.
The training and transition are two of the major concerns with GST regime. To overcome them and to help businesses adapt to new regime, the government has taken an initiative to link the start-ups to the GST platform from the very beginning. In order to assist start-ups connect their products as well as small and medium sized enterprises (SME) to GST, the Goods and Services Tax Network (GSTN) plans to organize an ecosystem workshop in Bengaluru this Friday.
The workshop will aim to help start-ups in connecting their Application Programming Interfaces (APIs) to the GST system. APIs are nothing but tools and protocols used for creating software applications. These generally specify how different software components should interact with each other. Further, it will emphasize upon the need of building ecosystem around these APIs. The workshop will also educate software developers and service providers about the kind of data that will be made available to them post-GST implementation and how to manage the scale of it. The purpose is basically to make things easier for existing software users when GST comes into force.
These kinds of workshops will help a section of businesses to adapt to GST from the day one of its implementation. But how the government is planning to mitigate the transitional risk as well as training of its own staff? This is the question that still needs to be answered………Waiting for some more announcements and hoping for the best….