Infosys CEO Vishal Sikka explains GST rollout as a challenging task and acknowledged the preparedness as not up to the mark but it can be possible if the time is utilized wisely before the deadline April 2017.
Over the preparedness for the GST launch, Sikka stated, “There are many pockets where there is weak preparedness at this moment. But we have time between now and then, and the government is extremely keen to address that (weakness).”
Meanwhile, BJP MP Subramanian Swamy has been critical of GSTN as a majority 51 per cent share lies with the private sector and the government is just a minority partner.
Asked about the key challenges for the GST rollout, Sikka said that the issues related to the technology readiness is getting resolved and Infosys is taking vital measures to assure that the GST IT framework becomes secure.
The IT giant was assigned a job of building IT infrastructure for the GST regime back in September 2015 and sikka has admitted that the job is quite complex and involves the participation of banks, SMEs and states.
When asked about the work status for the April launch, Sikka said there is regressive work in between the time period in order to meet the deadline. The Tax regime is said to be the transforming moment for the tax system in the country. If things go right, the implementation could fetch a GDP growth of 2 percent and attract new businesses and fresh investments. It is also expected to boost government revenues and offer greater tax compliance.