Merchants are completely busy in GST return filing and are facing so many problems, trying to approach CA, agents, tax consultants, and experts to resolve their issues at the earliest. The advisers are now surging the fees than what they usually take. There are total 37 returns to be filed in a year and if we calculate the expenses of fees and return filing it is around Rs. 35,000 to Rs. 40,000.
Now, the wholesale marketer is putting the cap of 10% margin and what small merchants are getting is only 2-3% of a profit. After GST expenses it is quite difficult for them to survive and quitting the business is better choice remain with them. Apart from it, audit expenses, adviser fees, account maintenance, and accountant fees have become another hurdle for merchants.
According to the small businesses, the new indirect tax regime is not at all easy to understand by a common person. The reasons are quite obvious, as GST is multi-layered, very new with a confused refund mechanism, along with online mode of filing returns. If the filing should be online and manual both, it would be easy to deal with GST.
Read Also: GST Refund Procedure Under GST India
There are not so much educated and qualified merchants who can file the return by themselves. Due to intricate processes under GST, they are taking help from advocates and tax consultants. If we calculate Rs. 1000 for one return filing expense, we come up with a total expense of 37,000 per year. It is a huge amount for small businesses and merchants.
To help out the businesses and merchants Saggst.com is reaching them out by providing free GST software services. SAG Infotech is a pioneer in the field of excellent tax related services with two decades of experience and solid client base. A generally preferred website by professional to access the knowledge base of taxation and satisfied by above 20 thousands clients. Keeping in mind the diversities, we provide user-friendly and important features for free.