Our Founder and MD Mr. Shriram Subramanian has written an article for Moneycontrol discussing the introduction of the Invoice Management System (IMS) and how it will affect India's Micro, Small, and Medium Enterprises (MSMEs).
Even though this introduction of IMS represents a significant step forward in strengthening GST compliance in India, MSMEs nationwide will face challenges in transitioning into this new system. This article highlights the need for extended timelines for MSMEs to adapt to these systems due to factors such as limited access to credit, technological constraints, and the complexities involved in digitalization. The article also explores proactive steps the government could take to assist MSMEs in implementing IMS effectively.
Read the full article here: https://www.moneycontrol.com/news/opinion/why-msmes-need-more-time-to-transition-to-the-new-ims-12914602.html
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