Traders body Confederation of All India Traders (CAIT) has partnered with HDFC Bank Ltd, MasterCard and Tally Solutions for launching a national campaign for the adoption of digital payments to enable a seamless transition to the Goods and Services Tax (GST).
CAIT made this announcement in a two-day national conference in New Delhi, reported the Deccan Herald.
“We stand committed to seamless transition to GST taxation system which would transform the country into ‘One Market’ studded with technological advancements, besides fast-track digitisation of the financial data,” said B C Bhartia, national president, CAIT and Praveen Khandelwal, secretary general, in a joint statement.
“Though GST is a revolutionary change to eliminate black economy while promoting transparency and security, the trading fraternity is perturbed about the procedural implications. Empowerment of nearly 60 per cent of trading community with technology is a major challenge. Through this association, we aim to educate and equip non-corporate entities for successful adoption of GST and digital payments,” he added.
“The tripartite collaboration under the leadership of CAIT will help provide the necessary resources to small businesses to help digitise their operations, thus facilitating the adoption of digital payments at large,” Bhartia explained.