It’s going to be a long weekend at work for Madhulika Bansal, who works in the finance department of a consumer goods company. Unlike some of her colleagues in other departments who might be eyeing a short getaway given the extended weekend on account of Eid, Madhulika will be spending hers in Gurgaon office, helping her company in becoming GST ready before next Friday. It will be much like the last two weekends that she spent in office and, by all accounts, most weekends in July are going to be working as several departments across companies, from finance and IT to production and supplies, prepare to be fully compliant with the new taxation regime. “All leaves have been cancelled and people have been working every day since June 10. They can take compensatory off and go on vacation in August,” said Sunil Wadhwa, CEO of Groupe SEB India, which acquired Maharaja Whiteline and has also introduced Tefal in the country.
While companies have ordered software and initiated steps, Wadhwa’s team is dealing with a checklist of 72 action points. Its ERP vendor is going to release a software patch next week. Around the same time, the government’s GST Network (GSTN), which is putting in place the technology backbone, will provide the spreadsheet for businesses to record their sales.
Most vendors are still not registered with GSTN. “We will be spending sleepless nights for the next one week before GST kicks in. Out of 5,000 distributors across India, 3,000 are GST compliant. The remaining 2,000 sub stockists will become GST compliant by June 25, so that we can start billing under the new tax regime by July 1,” said Ullas Kamath, joint MD of Jyothy Laboratories, which has formed four teams, one each in the four regions to make this happen.
Once GST gets out of the way, companies are planning measures to de-stress the over-worked lot of employees. S Venkatesh, president-group HR at RPG Enterprisessaid, “I am sure that those who are part of the taskforce, which was set up for GST at RPG Enterprises, would be working through this weekend to ensure smooth execution.
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