Amidst the pandemic, people have lost jobs due to the hard hitting impact on the retail industry. It would be interesting to see how the government would address the job creation and security issue in this badly effected economy of the country. Government has taken lot of appreciable initiatives to secure MSME interest.
However, the govt. must also focus on the medium and large enterprises dealing with MSMEs. Steps like GST returns filing dates has to be same for all categories of taxpayers as large taxpayers are regularly facing working capital pressure due to non-filing of monthly returns and blocking of Input credit. Also, we expect some tax relaxation and incentives in the hands of taxpayers to have more cash in hand and spending power resulting into more cash inflow in retail to boost economy.
(The author is CFO,Cantabil Retail India Ltd)
(Published 30 January 2021, 10:29 IST)
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