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Developers may hay as traders rush for software updates

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With small and medium business owners in the city starting to migrate to the Goods and Service Tax (GST) platform, it has provided business opportunities for software developers too.
Majority of the business owners had not invested in software and hardware updates till July1, when the new tax system came into force, hoping that they would get more breathing space. "However, they have gradually started to realize that there would not be any exemption anymore," said Kathaperumal Parimanam, of Foray Technologies Limited, Trichy.
"We have a number of clients across the state. All of them have started approaching us for software conversion and modification to the one they have at present. Since, the process of updating the software is not a difficult task and also not expensive, a number of small traders and businessmen have started making frequent calls requesting for the update," he added.

Parimanam cited the example of a client who despite being exempted from GST as his business turnover was within the stipulated limit of Rs 20lakh per annum wanted to have the GST-enabled software installed in his computer. " The client wanted the new software to explore his business avenues up to Rs 50 lakh per annum," he said.
"The sole aim of bringing GST is to bring prices down. However, it looks like almost all the entrepreneurs and traders are trying their best to find ways to increase the prices of their products and services," said Parimanam, while adding that the Union government's initiative will start to show results only from August.
Apart from orders for software updates, firms are also receiving enquiries about GST. "Customers are trying to clear their doubts about the new tax structure," said V Suresh Raja, of VSR Software, Trichy.
"In a sense the software is not totally new. The Union government has created a certain basic set up for migration to the new tax platform. On the basis of the stakeholders' requirements we provide our service. So, there isn't any point saying no software is ready," he added.
Source:http://timesofindia.indiatimes.com/city/trichy/developers-may-hay-as-traders-rush-for-software-updates/articleshow/59415914.cms

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