The Label Manufacturers’ Association of India (LMAI) recently organized a seminar on the latest tax introduction in the country by the government. Goods and Services Tax or popularly known as GST will be in effect from July 1, 2017 in the Indian market.
The seminar by LMAI was held in Mumbai and aimed to help its members by providing insights on the new taxation and related preparedness for businesses. The event was attended by around 150 industry people who learned about the new tax from Puneet Bansal who also answered the audience queries. He urged the members to put things in place before time to avoid difficulty in registration etc. Vendors should take care that the parties they deal with are also GST compatible for smooth accounting and billing. LMAI plans similar sessions in other parts of the country to facilitate its members for their businesses’ smooth transition to GST regime. The next seminar takes place in Bengaluru on June 22.