Tax structure for indirect taxes in India has remained complex with a combination of state and centre level taxes and compliance rules. The complexity slowed down business due to requirements of multiple forms in various formats required for movement of goods within the country. Checking compliance was also naturally difficult hence leaving room for tax avoidance. Long term reforms had proposed a single tax known as Goods and Services Tax (GST) applicable uniformly based on the value. GST will be a single Indirect tax for the whole nation, which will make India one unified common market. Each stage would then be taxed only on added value.
Now the GST bill is passed it will be implemented into the systems on 1st April 2017.It shall come into force on such date as the Central or a State Government may, by notification in the Official Gazette, appoint in this behalf. While each State GST Act would extend to the relevant State, the Central GST Act extends to the whole of India and includes Jammu & Kashmir (‘J&K’).
Being a major mover of goods retail industry will have a major impact through GST implementation and we feel that the overall impact will be positive as it will reduce current artificial constraints on business domicile and movement of inventory. The manufacturer will be able to reach more consumers through distributors and stores across India with ease of calculating and reporting of taxes.
We at Ginesys are fine-tuning our Retail ERP and POS systems with a vision to simplify and make the process of adoption of GST as simple as we can. Through these blog posts you will be able to get an inside view into how we are working this subject.
The 63rd National Garment Fair organized by the Clothing Manufacturers Association of India (CMAI) from July 13th to 15th, 2016 at the Bombay Exhibition Centre in Mumbai ended up with an orders bonanza for Manufacturers of apparel industry.
The garment fair which is usually in exhibition mode was generating sales too for the exhibitors showing the sheer resilience of this industry in general. This edition could be qualified as India’s largest ever garment fair with 800 brands on display and 4000+ retailers visiting.
Team Ginesys felt welcomed at CMAI as we had a good footfall at our stall of garment manufacturers and retailers enquiring about our product suite including production and retail point of sales. A lot of the enquiries were for a full retail ERP. Here are a few pics from the apparel fair:
The IT Capital of Bengaluru being a magnet for fashion and lifestyle has attracted Ginesys’ attention too. We are setting up a business unit in HSR layout and we welcome you to drop in for quick chat over a cup of filter coffee or hot tea. It could be about fashion, grocery, retail software, POS, technology, mobile or anything else.
We hope to make Bengaulru as a base for expanding further in the south.
The recently concluded 4th East India Retail Summit (EIRS) was a premier event for lifestyle retailing and brands in East India. The Ginesys stall became a hub of inquiries on retail software and retail technology in general. The fact that we were giving a live demo of the retail software helped.
Soumyadip Bhattacharya, Sanjoy Sarkhel and Arjun Roy spearheaded our participation at the event. Soumyadip also took part in a debate on an engaging topic ”NOT BRICKS VS CLICKS BUT BRICKS & CLICKS: A HEALTHY OMNICHANNEL RELATIONSHIP” which saw great response amongst viewers.
Some of our valued customers won awards and accolades in their respective areas.
- HOFFMEN FASHIONS- IMAGES Most Admired Retailer of the Year (Denimwear)
- MANYAVAR- IMAGES Most Admired Retailer of the Year (Menswear -Indian)
- PRAPTI - IMAGES Most Admired Brand (Womenswear- Indian)
- APPLE EYE- IMAGES Most Admired Retailer of the Year (Shop in Shop)
- AMBER- IMAGES Most Admired Retailer of the Year (Orissa)
- TURTLE- IMAGES Most Admired Retailer of the Year (Menswear)
- SOHUM SHOPPE- IMAGES Most Admired Retailer of the Year (North East)
- ARAMBAGH’S FOODMART- IMAGES Most Admired Retailer of the Year (Convenience Stores)
We congratulate them on their achievement and we aim to continue providing the best retail ERP solution to them.
Manyavar was recently awarded for Retail Excellence in Supply Chain Management at Asia Retail Congress held at the Taj Lands End, Mumbai. Asia Retail is a global platform to promote world class retail practices. It is aimed at congregation of top leaders of the retail organizations to discuss and influence retail industry.
Known as a leading ethnic wear brand in India, Manyavar has been stepping the ante and growing at a rapid pace with more than 400 stores across the country. They also forayed into UK/US market recently. Manyavar uses Ginesys Retail and POS software for their business.
Ginesys congratulates Manyavar for their achievement and hopes for continued association.