Document
File Now
Index

Large Companies Worried about Supplier Readiness for GST

Updated on: Jul 13th, 2021

|

1 min read

Updates from 04th May, 2017

Larger companies in India; especially those who have an annual turnover of more than INR 500 crores are all set for GST implementation. However, they are worried that their suppliers who are part of the SME ecosystem may not be as compliant, making transition difficult. If all suppliers are not ready for GST by the go-live date, then it could impact the flow of ITC (input tax credit) in the economy, leading to cash flow problems in the initial days of GST.

As reported in Financial Express

inline CTA
India’s Fastest and Most Advanced 2B Matching
Maximise ITC claims, use smart validations to correct your data and complete 2B matching in <1 minute
logomastercard-logo

Pay taxes with your Mastercard credit card & enjoy benefits such as

  • Instant payment confirmation
  • Interest free credit period
  • Easy EMI conversions
  • Earn reward points
Use code: CTMASTER For Additional 10% Off!
Clear Logo
Follow us on
FacebookTwitterLinkedInGitHubInstagram
Have a query?
Support
Company
About us
Contact us
Careers
Media & Press
User reviews
Engineering blog
Clear Library
FinTech glossary
ClearTax Chronicles
GST Product Guides
Trust & Safety
Cleartax(Saudi Arabia)

Clear offers taxation & financial solutions to individuals, businesses, organizations & chartered accountants in India. Clear serves 1.5+ Million happy customers, 20000+ CAs & tax experts & 10000+ businesses across India.

Efiling Income Tax Returns(ITR) is made easy with Clear platform. Just upload your form 16, claim your deductions and get your acknowledgment number online. You can efile income tax return on your income from salary, house property, capital gains, business & profession and income from other sources. Further you can also file TDS returns, generate Form-16, use our Tax Calculator software, claim HRA, check refund status and generate rent receipts for Income Tax Filing.

CAs, experts and businesses can get GST ready with Clear GST software & certification course. Our GST Software helps CAs, tax experts & business to manage returns & invoices in an easy manner. Our Goods & Services Tax course includes tutorial videos, guides and expert assistance to help you in mastering Goods and Services Tax. Clear can also help you in getting your business registered for Goods & Services Tax Law.

Save taxes with Clear by investing in tax saving mutual funds (ELSS) online. Our experts suggest the best funds and you can get high returns by investing directly or through SIP. Download Black by ClearTax App to file returns from your mobile phone.

Cleartax is a product by Defmacro Software Pvt. Ltd.

Company PolicyTerms of use

ISO

ISO 27001

Data Center

SSL

SSL Certified Site

128-bit encryption