5th SME SAMMELLAN with the theme on GST IMPACT on SMES STARTUPS: "Challenges & Opportunities"

29 July, 2017 , Hotel Metropole, Ahmedabad

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SME sector has been playing an important role in socio-economic development of the country. The sector’s contribution to the country’s GDP is expected to increase to 22% in 2020 from 17% in 2011. The strongest differentiator for SMEs is the competitive business model, which emphasizes the use of cost-effective and local resources, capital, processes and labor, ensuring an effective ROI.
 
Recently Demonetization coupled with other historic reforms like GST will result in several changes in the SME business models going forward. The implementation of GST could accelerate the growth of Indian SMEs & Startups by promoting the government-led "Make in India" initiative and helping small-scale enterprises in terms of ease of doing business. Other factors like cash flow-related issues, delays, and uncertainties can prove to be a challenge for SMEs & Startups, which they would need to overcome with better planning and execution. It will result in several winners/losers in multiple sectors apart from disrupting existing ways of doing business.
 
With implementation of Goods and Services Tax (GST), India’s 51 million small medium enterprises (SMEs) will take the digital route and this will significantly change the way of doing business across industries. If we see from an SME/ Startup perspective, GST will bring in many opportunities compared to the current systems such as easy process of availing input credit, single point tax, elimination of cascading tax system, and simpler taxation. There will be many other challenges for the small manufacturing sector in the GST tax structure viz calculation of tax, inter-state, intra-state tax structure, maintaining transactions update and other digital / IT related issues.
 
After completion of 4 successful series of SME SAMMELLAN,  ASSOCHAM is organizing its 5th SME SAMMELLAN with the theme on GST IMPACT on SME’S & STARTUP’S: “Challenges & Opportunities”, on 29th July 2017 at Hotel Metropole, Ahmedabad. This Sammellan will provide a platform to spread awareness with the help of the experts from the industries, CA Firms, Tax Consultants, Policy makers, and technocrats to discuss about the GST tax regime, and its implementation process.